| Table 4 | |||||||||||||||||||||
| Reconciliation of GAAP Measures to non-GAAP Measures | |||||||||||||||||||||
| $ Millions | |||||||||||||||||||||
| (Unaudited) | Three Months Ended | Year Ended | |||||||||||||||||||
| Jun 30, | Mar 31, | Jun 30, | Jun 30, | Jun 30, | |||||||||||||||||
| 2022 | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||
| Gross profit on GAAP basis | $ | 326.0 | $ | 321.7 | $ | 297.8 | $ | 1,265.5 | $ | 1,177.5 | |||||||||||
| Share-based compensation | 0.9 | 1.3 | 3.4 | 5.1 | 12.1 | ||||||||||||||||
| Amortization of acquired intangibles (4) | 9.6 | 9.4 | 9.8 | 38.3 | 38.8 | ||||||||||||||||
| Start-up costs (3) | — | 1.6 | — | 2.8 | — | ||||||||||||||||
| Restructuring, transaction expenses and other (1) | 6.9 | 1.7 | 0.7 | 9.8 | 6.7 | ||||||||||||||||
| Gross profit on non-GAAP basis | $ | 343.4 | $ | 335.7 | $ | 311.7 | $ | 1,321.5 | $ | 1,235.0 | |||||||||||
| Internal research and development on GAAP basis | $ | 95.9 | $ | 96.9 | $ | 83.8 | $ | 377.1 | $ | 330.1 | |||||||||||
| Share-based compensation | (1.3 | ) | (2.0 | ) | (4.8 | ) | (7.6 | ) | (17.0 | ) | |||||||||||
| Start-up costs (3) | (6.4 | ) | (13.0 | ) | — | (29.5 | ) | — | |||||||||||||
| Restructuring, transaction expenses and other (5) | (0.6 | ) | — | — | (0.6 | ) | — | ||||||||||||||
| Internal research and development on non-GAAP basis | $ | 87.6 | $ | 81.9 | $ | 79.0 | $ | 339.4 | $ | 313.1 | |||||||||||
| Selling, general and administrative on GAAP basis | $ | 115.9 | $ | 118.0 | $ | 116.8 | $ | 474.1 | $ | 445.2 | |||||||||||
| Share-based compensation | (11.3 | ) | (14.9 | ) | (10.3 | ) | (60.4 | ) | (49.8 | ) | |||||||||||
| Amortization of acquired intangibles (4) | (10.3 | ) | (10.0 | ) | (10.8 | ) | (41.4 | ) | (43.4 | ) | |||||||||||
| Restructuring, transaction expenses and other (1) | (7.1 | ) | (11.5 | ) | (11.5 | ) | (40.5 | ) | (31.6 | ) | |||||||||||
| Selling, general and administrative on non-GAAP basis | $ | 87.2 | $ | 81.6 | $ | 84.3 | $ | 331.8 | $ | 320.4 | |||||||||||
| Operating income on GAAP basis | $ | 114.2 | $ | 106.8 | $ | 97.1 | $ | 414.3 | $ | 402.1 | |||||||||||
| Share-based compensation | 13.5 | 18.2 | 18.5 | 73.1 | 78.9 | ||||||||||||||||
| Start-up costs (3) | 6.4 | 14.6 | — | 32.3 | — | ||||||||||||||||
| Amortization of acquired intangibles | 19.9 | 19.4 | 20.6 | 79.7 | 82.2 | ||||||||||||||||
| Restructuring, transaction expenses and other (1) | 14.6 | 13.2 | 12.2 | 50.9 | 38.3 | ||||||||||||||||
| Operating income on non-GAAP basis | $ | 168.6 | $ | 172.0 | $ | 148.5 | $ | 650.2 | $ | 601.5 | |||||||||||
II-VI Incorporated Reports Q4 and Full-Year Fiscal 2022 Results
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