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This statistic highlights II-VI Incorporated’s Revenue by Segment from Q1 2016 onwards, split across Photonics and Compound Semiconductor, on a quarterly basis.
The organizational structure of the company is bifurcated into two segments with an intention of making business decisions and evaluating financial performance: (i) Photonic Solutions, and (ii) Compound Semiconductors.
II-VI Incorporated’s Revenue by Segment
|Segment||Q1 2021||Q4 2021||Q1 2022||Revenue Contribution in Q1 2022|
(All figures in millions, except percentages)
II-VI Incorporated generated $795.11 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 declined by 1.6% as compared to $808.01 million earned in Q4 2021, on a quarterly basis.
The total revenue for 2021 was a record with growth across all end markets compared to the last financial year. The increase in revenue was primarily associated with the merger of Finisar.
II-VI Incorporated’s revenue can be classified into the following segments:
The Photonic Solutions Segment leverages II-VI’s compound semiconductor technology platforms and deep knowledge of end-user applications for key end markets to deliver differentiated components and subsystems. The increase in revenues within Photonic Solutions was driven by increased demand from customers in the optical communication market, ROADM, and other optical communication products addressing the growing deployment of 5G optical networks.
Revenue generated from the Photonics segment witnessed an increase from $497.73 million in Q1 2021 to $536.02 million in Q1 2022. This indicates a growth of 7.6% on a yearly basis. Besides, it decreased by 2.5% as compared to $549.70 million in Q4 2021, on a quarter-on-quarter basis. The Photonics segment contributed 67% to the revenue mix by segment in Q1 2022. This increase in revenue was primarily due to sustained demand for products in the optical communications market, including data-com and telecom products.
The Compound Semiconductors Segment is a market leader in engineered equipment and optoelectronics components such as those based on GaAs (gate-all-around transistors), InP (Indium Phosphide transistors), GaN (Gallium nitride transistors), and SiC (Silicon Carbide transistors). Compound Semiconductors’ growth was driven by strengthening demand for SiC substrate products addressing RF (radio frequency) electronics and high-power switching systems. This segment also recognized increased revenues from its aerospace and defense products directing ever-growing demand from customers in the intelligence, surveillance and reconnaissance markets.
The Compound Semiconductor segment marked an increase from $230.36 million in Q1 2021 to $259.09 million in Q1 2022, indicating a growth of 12.5% on a yearly basis. It amounted to $259.09 million of revenue in Q1 2022, which was unaffected from the prior quarter; i.e., $258.31 million. The Compound Semiconductor segment comprises 33% of the total revenue in Q1 2022. This expansion in revenue was primarily related to the increase in product shipments addressing the industrial market, the semiconductor capital equipment market, and the consumer electronics market, with declines in aerospace and defense.
II-VI Incorporated was established by Carl Johnson in 1971, headquartered in Saxonburg, Pennsylvania. The company’s shares are listed on the Nasdaq Stock Market. It is a global manufacturer of optoelectronics components and semiconductors, and develops ingenious products for communication, aerospace and defense, industrial, life sciences, consumer electronics, and semiconductor capital tools. The acquisition of Finisar made the company a worldwide leader in optics and photonics, with 70 locations globally. The vertical integration, manufacturing facilities and equipment, experienced technical and manufacturing employees, and worldwide marketing and distribution channels provide competitive advantages to the company. The total revenue earned by the company for the year ended June 30, 2021, was $3,106 million.
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