Francis J. Kramer, president and chief executive officer said, "We are pleased to report record revenues for the fourth quarter and fiscal year 2013. As global industrial customers continued to use and deploy CO 2 lasers, Infrared Optics bookings for the quarter increased 10% from the same period last fiscal year. At our Marlow Industries subsidiary, revenues increased 33% from the year-ago quarter and 28% from the preceding quarter of 2013 as their new personal comfort product line gained traction. We also made substantial progress on integrating the three businesses that joined our Company through acquisitions in November and December 2012."Kramer continued, "During the quarter we made the difficult but necessary decision to refocus PRM on processing rare earth material and providing a crucial raw material, selenium metal, for use by II-VI Infrared Optics. Ceasing the commercial production and sale of tellurium and selenium chemicals substantially reduces our future exposure to volatility of tellurium and selenium index pricing."
|November 1, 2012||M Cubed Technologies, Inc. (M Cubed)|
|December 3, 2012||The thin-film filter business and interleaver product line of Oclaro, Inc. (the Oclaro assets)|
|December 21, 2012||LightWorks Optics, Inc. (LightWorks)|