II-VI to Sell Sensor Div.

SAXONBURG, Pa., April 7, 2008 -- II-VI Inc. announced it intends to sell its x-ray and gamma-ray radiation sensor division, eV Products Inc., a unit in its Compound Semiconductor Group.

A sale price was not disclosed for the division, which manufactures solid-state room temperature x-ray and gamma-ray detectors for industrial, medical, homeland security and laboratory applications. II-VI said eV Products generated $8.5 million in revenue for fiscal year 2007.

II-VI, a maker of laser optic materials, optics, components and electro-optical products, said selling eV Products will allow it to "concentrate on its core strengths" and focus on integrating recently acquired businesses.

In October 2007 II-VI announced it was buying 75 percent of HighYAG Lasertechnologie GmbH (See: II-VI Buys 75% of Laser Firm), which was completed in January 2008. In May 2007 the company also announced it was acquiring Pacific Rare Specialty Metals & Chemicals Inc. (See: II-VI to Buy Pacific Rare Specialty)

"II-VI has made significant investments in eV Products during the past 15 years that have enabled eV to become the industry leader in cadmium zinc telluride radiation detection systems," said Francis J. Kramer, president and CEO of II-VI. "We believe the time is right for eV Products to be owned by a company which can achieve significant competitive advantages by maximizing the value of eV's differentiated capabilities in medical and homeland security imaging, and in industrial, scientific and space applications."

eV Products will be classified as a discontinued operation and excluded from II-VI operating results, the company said, and II-VI's future outlook will also exclude eV Products. The sale is being handled by Roth Capital Partners.

In a separate statement, II-VI announced its preliminary revenues and bookings for the third quarter, which ended March 31. Revenue of $81 million and bookings of $93 million -- both of which exclude eV Products -- were new company records, II-VI said.

For more information, visit: www.ii-vi.com

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About II-VI Inc. (see Coherent Corp), II-VI Infrared

Published: April 2008

Glossary

compound semiconductor: A semiconductor made up of two or more elements, in contrast to those composed of a single element such as germanium or silicon. In a III-V semiconductor, for example, one or more elements having three valence electrons (gallium, for instance) are combined with one or more having five (arsenic).
gamma ray: The spontaneous emittance of electromagnetic radiation by the nucleus of certain radioactive elements during their quantum transition between two energy levels. The radiation emitted has a wavelength between 10-8 and 10-10 cm.
photonics: The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...
radiation: The emission and/or propagation of energy through space or through a medium in the form of either waves or corpuscular emission.
sensor: 1. A generic term for detector. 2. A complete optical/mechanical/electronic system that contains some form of radiation detector.

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