II-VI, Inc. (IIVI)’s Fiscal Year 2015 Second Quarter Earnings Conference Call Transcript

Francis Kramer – Chairman
We really don’t report it that way, Avinash. It’s stepping up. It’s gaining to become more of our business. But we haven’t collected the data that way. We do have, but we just haven’t showed some reported. When we went to the three segments, we felt like we would be able to give you the best view of the business. But if you – if we keep working it, I guess, maybe, we’ll have to report in another session, but right now today, we’re not prepared.
Avinash Kant – D.A. Davidson & Company
Okay, because earlier you had HIGHYAG, but now, of course, you are more into the diode and other things too, so clearly, your exposure has gone up, and just some rough idea at this point, that’s what where others are looking for?
Francis Kramer – Chairman
So, I think that’s a good question really, and I have to say, I don’t feel, we’re prepared today, but in the 90 days we should be ready for that.
Avinash Kant – D.A. Davidson & Company
Okay, perfect. And, Mary Jane, you just talked about the foreign exchange impact of the Swiss franc. Could you give us some idea in terms of in this quarter, in the December quarter that you just reported, how did foreign exchange impact in different ways, you can talk a little bit about the euro and other currencies too?
Mary Jane Raymond – Chief Financial Officer
Right. So, first of all, the FX in the quarter was probably in the neighborhood of about $0.5 million. With respect to the Swiss [Inaudible]. The euro had obviously a much greater impact on us in the first quarter, as we’ve reported at the time largely due to the inter-company loan we had outstanding, that has now significantly been retired. With respect to the Swiss franc, obviously, where the Swiss franc spun out on the new monetary policy, it kind of ended up back where it was last night. So, while we saw in the first quarter probably a little bit of pick-up of the Swiss franc, we expect to see that down in the third and fourth quarter of this coming year.
Avinash Kant- D.A. Davidson & Company
So, what’s the currency negatively impacting you in the current quarter that you reported?
Mary Jane Raymond- Chief Financial Officer
That was positive – positive up by 100 up.
Avinash Kant- D.A. Davidson & Company
Positive?
Mary Jane Raymond- Chief Financial Officer
Yes.
Avinash Kant- D.A. Davidson & Company
So that, how many do that contribute to the bottom line?
Mary Jane Raymond – Chief Financial Officer
So, it was probably about two-thirds of a penny currency, a little bit under one.
Avinash Kant- D.A. Davidson & Company
Okay. So if I understand it correctly that $0.44 that you’re reporting on an operating basis had$0.04 from the R&D tax credits, right?