PITTSBURGH (AP) — Laser component maker II-VI Inc. said Tuesday it acquired Aegis Lightwave for $52 million in cash.
Aegis Lightwave is a privately held company that makes optical devices used in high speed networks. It is based in Woburn, Massachusetts, with other locations in New Jersey and Australia. II-VI said Aegis has $26.6 million in revenue in 2010.
Closing adjustments for working capital, debt, and other items could raise deal price by $3 million.
II-VI said the acquisition will boost its fiscal 2012 profit to a range of $1.43 to $1.52 per share. It said revenue will be between $595 million and $615 million. Previously II-VI said it expected a profit of $1.40 to $1.48 per share and $565 million to $580 million in revenue.
Analysts expected the company to report a profit of $1.46 per share and revenue of $568.4 million, according to FactSet. II-VI's fiscal 2012 will end June 30, 2012.
