| Table 9 | |||||||||||
| II-VI Incorporated and Subsidiaries | |||||||||||
| Reconciliation of Reported Earnings to Adjusted Net Earnings | |||||||||||
| (Unaudited) | |||||||||||
| Year Ended | |||||||||||
| June 30, | June 30, | ||||||||||
| 2019 | 2018 | ||||||||||
| Reported Earnings | $ | 107.5 | $ | 88.0 | |||||||
| Add back (deduct) one-time items: | |||||||||||
| Share-based compensation expense in COGS | 3.2 | 2.9 | |||||||||
| Share-based compensation expense in SG&A | 21.8 | 16.8 | |||||||||
| Amortization expense | 16.6 | 14.6 | |||||||||
| Acquired businesses one-time expenses | 3.8 | 2.0 | |||||||||
| Transaction cost related to pending merger | 15.6 | - | |||||||||
| Impact of the "Tax Cuts and Jobs Act" | - | 8.0 | |||||||||
| Tax adjustment on one-time items | (0.9 | ) | (0.3 | ) | |||||||
| Adjusted Net Earnings | $ | 167.6 | $ | 132.0 | |||||||
| Per share data: | |||||||||||
| Reported Earnings: | |||||||||||
| Earnings - Diluted Earnings Per Share | $ | 1.63 | $ | 1.35 | |||||||
| Earnings - Basic Earnings Per Share | $ | 1.69 | $ | 1.41 | |||||||
| Per share, After-Tax Impact of Adjustments on: | |||||||||||
| Adjustments - Diluted Earnings Per Share | $ | 0.91 | $ | 0.68 | |||||||
| Adjustments - Basic Earnings Per Share | $ | 0.95 | $ | 0.70 | |||||||
| Adjusted Earnings: | |||||||||||
| Adjusted Earnings - Diluted Earnings Per Share | $ | 2.54 | $ | 2.03 | |||||||
| Adjusted Earnings - Basic Earnings Per Share | $ | 2.64 | $ | 2.11 | |||||||
II-VI Incorporated Reports Fiscal 2019 Fourth Quarter and Full Year Results
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