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Hot Growth Special Report 2006 >

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97

II-VI (IIVI)

More than 30 years after its founding, this Pittsburgh-based company is racing to keep up with record demand for its infrared optics, radiation detection products and crystals used in laser and telecommunications equipment. II-VI is named for columns II and VI on the periodic table of elements -- the home of zinc selenide, one of the compounds the company uses to make materials that transmit infrared energy for lasers. II-VI's profits have risen an average 50% a year for the last three years, on average sales growth of 19%. Judging from the influx of customer orders, the future looks bright: In the nine months ended March 31, II-VI booked $183.5 million in orders that it expects to convert into sales over the next 12 months -- a 35% increase over the same period in 2005.

Company Info

2005 Rank

NR

Market Value*
($ Millions)

633.8

Sales*
($ Millions)

224.6

Sales Growth
(3-yr. avg. annual)

19.3 %

Profits*
($ Millions)

26.2

Profit Growth
(3-yr. avg. annual)

50.5 %

Return on Inv. Capital (3-yr.)

10.7 %

Share Price
12-Mo. Hi/Lo

22/13

Share Price
As of 4/28/06

22

Return on Equity

14.5 %

P/E Ratio

25

No. of Employees

1,548

Industry Electrical Components & Equipment
CURRENT
MARKET INFO

IIVI >

COMPANY WEB SITE >
Location Saxonburg, Pa.
Phone 724 352-4455
*Trailing 12 months
Stock price data as of 4/28/06
DATA: Standard & Poor's Compustat

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Company Snapshot

II-VI Inc. engages in the development, manufacture, and marketing of materials and derivative products for precision use in industrial, medical, military, security, and aerospace applications. It offers laser-related products, including laser gain materials for solid-state lasers and optical elements used to focus and direct laser beams to target or work surfaces. The company also provides military infrared products, including missile domes, electro-optical windows and subassemblies, imaging lenses, and other components. It manufactures waveplates, polarizers, lenses, prisms, and mirrors for visible and near-infrared applications, which are used to control or alter visible or near-infrared energy and its polarization. In addition, the company provides x-ray and gamma-ray sensors based on the semiconductor material cadmium zinc telluride; silicon carbide substrates used in solid-state lighting, wireless infrastructure, radio frequency electronics, and power switching industries; and thermoelectric coolers used in guidance systems, smart weapons, and night vision systems, as well as in products providing temperature stabilization for telecommunication lasers that generate and amplify optical signals for fiber optic communication systems. It sells its products to original equipment manufactures, system integrators, laser end users, and military and aerospace customers. The company markets its products through its direct sales force in the U.S., as well as through its wholly owned subsidiaries, distributors, and agents worldwide. II-VI was co-founded by Carl J. Johnson in 1971 and has its headquarters in Saxonburg, Pa.


Data provided by Capital IQ
 
Carl J. Johnson

Carl J. Johnson, 63

Chairman and Chief Executive Officer


Total Compensation*

$ 886,000

Total Options Value*

$ 2,044,187

* Fiscal Year 2005

DEGREES HELD
Massachusetts Institute of Technology - MS, University of Illinois-Urbana-Champaign - PhD, Purdue University - BS


Executive Bio

Carl Johnson was a co-founder of II-VI Inc. in 1971, and currently serves as chairman, CEO, and director. He served as president from 1971 until 1985 and has been a director since its founding and chairman since 1985. From 1966 to 1971, Johnson was director of research and development for Essex International, an automotive electrical and power distribution products manufacturer. From 1964 to 1966, Johnson worked at Bell Labs as a member of the technical staff. Johnson completed his PhD in electrical engineering at the University of Illinois in 1969. He holds BS and MS degrees in electrical engineering from Purdue University and Massachusetts Institute of Technology, respectively. Johnson serves as a director of Xymox Technologies and Armstrong Laser Technology.


Management Team

Key Executives

Carl J. Johnson; Francis J. Kramer; James Martinelli; Herman E. Reedy; Craig A. Creaturo

Board Directors

Marc Y. E. Pelaez; Joseph J. Corasanti; Thomas E. Mistler; Duncan A. J. Morrison; Peter W. Sognefest; Carl J. Johnson; Francis J. Kramer


Executive Data provided by Capital IQ