| Table 8 | |||||||||||||||||
| II-VI Incorporated and Subsidiaries | |||||||||||||||||
| Reconciliation of Reported Earnings to Adjusted Net Earnings | |||||||||||||||||
| (Unaudited) | |||||||||||||||||
| Three Months Ended | |||||||||||||||||
| June 30, | March 31, | June 30, | |||||||||||||||
| 2019 | 2019 | 2018 | |||||||||||||||
| Reported Earnings | $ | 28.0 | $ | 24.6 | $ | 27.2 | |||||||||||
| Add back (deduct) one-time items: | |||||||||||||||||
| Share-based compensation expense in COGS | 0.8 | 0.9 | 0.6 | ||||||||||||||
| Share-based compensation expense in SG&A | 6.0 | 7.0 | 3.8 | ||||||||||||||
| Amortization expense | 4.6 | 4.2 | 3.6 | ||||||||||||||
| Acquired businesses one-time expenses | 0.2 | 0.2 | - | ||||||||||||||
| Transaction cost related to pending merger | 4.6 | 3.9 | - | ||||||||||||||
| Impact of the "Tax Cuts and Jobs Act" | - | - | (1.3 | ) | |||||||||||||
| Tax adjustment on one-time items | (0.4 | ) | (0.2 | ) | (0.2 | ) | |||||||||||
| Adjusted Net Earnings | $ | 43.8 | $ | 40.6 | $ | 33.7 | |||||||||||
| Per share data: | |||||||||||||||||
| Reported Earnings: | |||||||||||||||||
| Earnings - Diluted Earnings Per Share | $ | 0.43 | $ | 0.38 | $ | 0.42 | |||||||||||
| Earnings - Basic Earnings Per Share | $ | 0.44 | $ | 0.39 | $ | 0.44 | |||||||||||
| Per share, After-Tax Impact of Adjustments on: | |||||||||||||||||
| Adjustments - Diluted Earnings Per Share | $ | 0.24 | $ | 0.24 | $ | 0.10 | |||||||||||
| Adjustments - Basic Earnings Per Share | $ | 0.25 | $ | 0.25 | $ | 0.11 | |||||||||||
| Adjusted Earnings: | |||||||||||||||||
| Adjusted Earnings - Diluted Earnings Per Share | $ | 0.67 | $ | 0.62 | $ | 0.52 | |||||||||||
| Adjusted Earnings - Basic Earnings Per Share | $ | 0.69 | $ | 0.64 | $ | 0.55 | |||||||||||
II-VI Incorporated Reports Fiscal 2019 Fourth Quarter and Full Year Results
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