II-VI Inc : * Announces acquisition of Oclaro Inc.'s Switzerland-based semiconductor laser business; expands credit facility * Says transaction valued at $115 million. * Says financed the acquisition with available cash and borrowings under an expanded credit facility * Deal is currently expected to be dilutive to earnings by between $0.08 and $0.12 per share * Business expected to generate about $70 million in revenues and expected to be dilutive to earnings by between $0.08 and $0.12 per share * For quarter ending September 30, business is currently expected to be dilutive to earnings by between $0.07 and $0.08 per share * Expects the transaction to become accretive to earnings during the fiscal year ending June 30, 2015 * Says expects the transaction to become accretive to earnings during the fiscal year ending June 30, 2015 * Source text for Eikon * Further company coverage
II-VI Incorporated (II-VI), develops, refines, manufactures and markets high-technology materials and derivative precision components and products for precision use in industrial, military, telecommunications, photovoltaic, medical and aerospace applications. Shares of IIVI remained unchanged at $20.63. In the past year, the shares have traded as low as $14.38 and as high as $20.80. On average, 192809 shares of IIVI exchange hands on a given day and today's volume is recorded at 0.
Oclaro, Inc., is a provider of optical communications and laser components, modules and subsystems for a range of markets, including telecommunications (telecom), industrial, scientific, consumer electronics and medical. Shares of OCLR remained unchanged at $1.06. In the past year, the shares have traded as low as $0.88 and as high as $3.19. On average, 924256 shares of OCLR exchange hands on a given day and today's volume is recorded at 0.
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