II-VI Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to 22 cents per share, compared with the S&P Capital IQ consensus estimate of 27 cents per share.
EPS rose 29.0% year over year from 17 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $13.9 million, a gain of 29.8% from $10.7 million in the prior-year period.
The normalized profit margin rose to 7.2% from 6.0% in the year-earlier period.
Total revenue grew 8.3% on an annual basis to $191.4 million from $176.7 million, and total operating expenses increased 5.9% from the prior-year period to $169.7 million from $160.2 million.
Reported net income fell 13.7% year over year to $18.8 million, or 30 cents per share, from $21.8 million, or 35 cents per share.
