II-VI Incorporated Reports Fiscal 2019 Fourth Quarter and Full Year Results
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Table 8 | | | | | | | | | | | | | | | | | |
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II-VI Incorporated and Subsidiaries |
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Reconciliation of Reported Earnings to Adjusted Net Earnings |
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(Unaudited) |
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Three Months Ended |
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June 30, |
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March 31, |
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June 30, |
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2019 |
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2019 |
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2018 |
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| Reported Earnings | | $ | | 28.0 | | | | $ | | 24.6 | | | | $ | | 27.2 | |
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| 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 | ) |
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| Tax adjustment on one-time items | | | | (0.4 | ) | | | | | (0.2 | ) | | | | | (0.2 | ) |
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| Adjusted Net Earnings | | $ | | 43.8 | | | | $ | | 40.6 | | | | $ | | 33.7 | |
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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 | |
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| 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 | |
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| 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 | |
