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This statistic highlights II-VI Incorporated’s Revenue by End Market, split across Communication, Industrial, Consumer, Aerospace and Defense, and Other markets, reported on a quarterly basis.
The company’s revenues are credited to the sale of optoelectronics components, devices, and semiconductors for the optical communications, industrial, aerospace and defense, and consumer electronics markets.
II-VI Incorporated’s Revenue by End Market
II-VI Incorporated generated $795.12 million in Q1 2022, which was an incline of approximately 9.2% as compared to $728.08 million in Q1 2021 on a year-on-year basis. It also grew by 1.5% as compared to $783.23 million earned in Q3 2021, on a quarter-on-quarter basis. Revenue for 2021 was a record with development across all end markets compared to the last fiscal year.
II-VI Incorporated’s revenue by end market can be bifurcated into the following:
|End Market||Q1 2021||Q3 2021||Q1 2022||Contribution in Q1 2022|
|Aerospace & Defense||$49.27||$51.69||$44.12||6%|
(All figures are in millions, except percentages)
The communication market is the highest contributing unit to the total revenue of the company. The communication market’s revenue witnessed an increase from $510.35 million in Q1 2021 to $532.54 million in Q1 2022. This indicates a growth of 4% on a yearly basis. On a quarterly basis, it also increased by 4.3% compared to $510.36 million in Q3 2021. The contribution of the communication market to the total revenue for the period Q1 2022 stood at 67%.
The company’s laser optics and solutions, accessories for CO2 lasers used in the industrial market remain well-positioned. II-VI continues to introduce products that address new and growing applications for low-power CO2 lasers, such as drilling and cutting plastics, and textiles.
Industrial revenue amounted to $99.23 million of revenue in Q1 2022, which was an incline of 52.7% on a year-on-year basis, as compared to $64.96 million in Q3 2021. It also grew from $89.24 million in Q3 2021 to $99.23 million in Q1 2022. This suggests an incline of 11.2% on a quarterly basis. The industrial market contributes 12% to the total revenue for Q1 2022.
II-VI, for the consumer electronic market, produces products such as VCSELs, VCSEL arrays, and optical filters. These products have been used in consumer products such as computer mice and mobile phones for many years.
The consumer market marked an increase from $53.66 million in Q1 2021 to $57.71 million in Q1 2022, witnessing a growth of 7.5% on a yearly basis. Besides, it declined by 15.2% as compared to $67.99 million in Q3 2021, on a quarterly basis. The consumer market contributed 7% to the total revenue for Q1 2022.
Aerospace and Defense
II-VI’s aerospace and defense solutions enable mission-critical capabilities for applications in high-energy lasers, contested space, and intelligence, surveillance, and reconnaissance.
The Aerospace and Defense market generated $44.12 million revenue in Q1 2022, which was a downfall of approximately 10.5% from $49.27 million in Q1 2021, on a yearly basis, and by 14.6% from $51.69 million in Q3 2021, on a quarter-on-quarter basis. Revenue generated by this end market accounts for 6% of the total revenue in Q1 2022.
Other revenue includes revenue from the life science/medical, semiconductor, and automotive end markets. This segment marked an increase from $49.86 million in Q1 2021 to $62.06 million in Q1 2022, witnessing a growth of 24% on a yearly basis. However, it declined by 3.03% as compared to $64.00 million in Q3 2021, on a quarter-on-quarter basis.
About II-VI Incorporated
II-VI Incorporated was incorporated by Carl Johnson in 1971, and is headquartered in Saxonburg, Pennsylvania. It is a worldwide manufacturer of optoelectronic components and semiconductors. The company produces a wide variety of application-specific photonic and electronic materials and components and uses them in various forms, including combining them with advanced software. The acquisition of Finisar makes II-VI a worldwide leader in optics and photonics. II-VI continues to enhance its operational capabilities, develop next-generation products, and invest in new technology platforms to drive growth in the short term and long term.
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