erent (US:COHR)2021-05-06 16:38Company Overview - II-VI's FY20 revenue was $2.6 billion[7] - The company had $493 million in cash and equivalents as of June 30, 2020[7] - FY20 free cash flow was $160 million[7] Financial Performance & Growth - Q3 FY21 revenue reached $783 million, a 25% increase compared to Q3 FY20's $627 million[15] - The company experienced rapid revenue growth, with a CAGR of 19% over 10 years[11] - Q3 FY21 non-GAAP gross margins were 39%, an increase of 800 bps from PF Q1 FY20's 31%[19] - Total estimated synergies of $150 million from the Finisar acquisition are now projected in 24 months instead of 36 months[46] Market & Strategy - II-VI operates in diverse markets, including optical communications ($22 billion CY25 market with 14% CAGR), 3D sensing & LiDAR ($7.5 billion CY25 market with 24% CAGR), and aerospace & defense ($14 billion CY25 market with 13% CAGR)[21] - The company is ramping silicon carbide substrate capacity by 5-10x over the next 5 years[23] Acquisition of Coherent - Coherent stockholders will receive $220.00 per share in cash and 0.91 of a II-VI common share for each Coherent share[50] - $250 million of run-rate cost synergies are expected within 36 months of the Coherent transaction close[50] - Fully committed debt financing from JP Morgan of approximately $5.1 billion[50]