II-VI Inc (Nasdaq:IIVI) Scores Another Strong Quarter

II-VI Incorporated (Nasdaq:IIVI) generated another solid performance in their latest quarter, increasing revenues by 76 percent, and EPS by 213 percent.

Needham says, "IIVI prior to the market open yesterday (Tuesday) delivered another superb quarterly report, highlighted by a 76% y/o/y increase in FQ2 revenues, 213% y/o/y growth in EPS and a 71% increase in bookings. The strength was broadly based across the company's commercial and military markets.

"We are raising our F11 revenue estimate to $485M from $453.8M and EPS estimate to $2.20 from $2.00. We are increasing our F12 EPS estimate to $2.50 from $2.20 on revenues of $525M, up from $497M previously."

Needham & Company maintains a "Buy" rating on II-VI, Inc. (IIVI), which closed Wednesday at $49.59, gaining $1.09, or 2.25 percent. Needham raised their price target on II-VI from $44 to $54.