II-VI Incorporated Simplifies Its Organizational Structure

Date Announced: 01 Oct 2014

"Laser Solutions" division now includes infrared optics sales.

PITTSBURGH, Oct. 1, 2014 (GLOBE NEWSWIRE) -- As of July 1, 2014, II-VI Incorporated (IIVI) ("II-VI" or the "Company") has simplified its organizational structure.

The Company has realigned from five to three reporting segments and will report its results as follows: (i) II-VI Laser Solutions, (ii) II-VI Photonics, and (iii) II-VI Performance Products. To reflect the updated segment organization, this release contains revised consolidated segment information for fiscal years ending June 30, 2014, 2013 and 2012, including select quarterly segment information.

• II-VI Laser Solutions contains the former Infrared Optics segment, the semiconductor laser portion of the former Active Optical Products segment, and smaller units of high power laser technology from the former Near Infrared Optics segment.
• II-VI Photonics contains the remaining majority of the former Near Infrared Optics segment as well as the pump laser and optical amplifier businesses of the former Active Optical Products segment.
• II-VI Performance Products contains the former Military & Materials and the former Advanced Products Group segments.

The Company's goals with these changes are to increase our focus on end markets and customers, better align our businesses and technical processes, improve our line of sight on profitability and cash usage, and streamline our communications.

Source: II-VI

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