This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

II-VI 4Q Outlook Misses Wall Street Estimates

PITTSBURGH (AP) ¿ After reporting a sharp decrease in its third-quarter profit, laser component maker II-VI Inc. on Tuesday forecast a disappointing fourth quarter, and said it could not give a specific view into fiscal 2010.

II-VI said it expects a profit of 14 cents to 18 cents per share from continuing operations, along with $58 million to $62 million in revenue. That would give the company a profit of $1.22 to $1.26 per share for the year, and $284 million to $288 million in revenue.

According to Thomson Reuters, analysts expected a profit of 23 cents per share and $68.1 million in revenue in the fiscal fourth quarter, which ends June 30. For fiscal 2009, they expected $1.20 per share and revenue of $296.4 million.

II-VI, which has reported weakening demand for most of its business, said it expects conditions to turn around at some point in the coming fiscal year. But it expects results for its UV Filter business to decrease by about $10 million in fiscal 2010, which will hurt its near-infrared optics unit.

The company's profit from continuing operations matched Wall Street estimates, but analysts expected greater revenue. In afternoon trading, shares of II-VI lost 5 cents to $20.23.
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
IIVI $20.86 0.34%
AAPL $95.18 1.64%
FB $117.43 -0.96%
GOOG $692.36 -0.84%
TSLA $232.32 -3.92%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs