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

Table 4 is a reconciliation of Adjusted Operating Income reported in this press release to Net Earnings.

Table 4                              
$ Millions                                                 
(Unaudited)   Three Months Ended        Year Ended  
                                            
   June 30,       March 31,       June 30,     June 30,     June 30,  
   2019       2019       2018       2019       2018  
                                                           
Adjusted operating income   $   56.9       $   47.4       $   48.0       $   209.7       $   173.1  
Amortization       4.6           4.2           3.6           16.6           14.6  
Stock based compensation       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           -  
Operating income   $   40.7       $   31.2       $   40.0       $   148.7       $   136.8  
Interest expense       5.6           5.7           5.0           22.4           18.4  
Other expense (income), net       0.4           (1.5 )         0.8           (2.5 )         (3.8 )
Income tax expense       6.7           2.4           7.0           21.3           34.2  
Net Earnings   $   28.0       $   24.6       $   27.2       $   107.5       $   88.0  
 

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