II-VI Incorporated Reports Fiscal 2019 Fourth Quarter and Full Year Results


Table 5 is a reconciliation of Operating Income reported in this press release to Adjusted EBITDA.

Table 5                             
$ Millions                                          
(Unaudited)   Three Months Ended      Year Ended  
                                           
   June 30,       March 31,       June 30,     June 30,     June 30,  
   2019       2019       2018       2019       2018  
                                                           
Operating income   $   40.7       $   31.2       $   40.0       $   148.7       $   136.8  
Depreciation and amortization       24.8           23.1           22.7           92.4           80.8  
Other income (expense), net       (0.4 )         1.5           (0.8 )         2.5           3.8  
Stock based compensation expense       6.8           7.9           4.4           25.0           19.7  
Acquired businesses one-time expenses       0.2           0.2           -           3.8           2.0  
Transaction expenses related to pending merger       4.6           3.9           -           15.6           -  
Adjusted EBITDA (6)   $   76.8       $   67.8       $   66.3       $   288.0       $   243.1  
 

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