Summary
Coherent Corp. (formerly II-VI Incorporated) announced a significant organizational realignment effective July 1, 2019, establishing two new reporting segments: Compound Semiconductors and Photonic Solutions. This change is driven by the company's operational decision-making and financial performance assessment strategies. Investors should note that financial information will be reported under these new segments starting in fiscal year 2020. The company also issued a press release on September 18, 2019, providing reclassified segment information reflecting this new structure.
Key Highlights
- 1New organizational structure with two reporting segments: Compound Semiconductors and Photonic Solutions.
- 2Effective date of organizational realignment: July 1, 2019.
- 3The new segment structure is for operational decision-making and financial performance assessment.
- 4Financial reporting under the new segments will commence in fiscal year 2020.
- 5A press release dated September 18, 2019, was issued to provide reclassified segment information.
- 6This filing is an 8-K Current Report from II-VI Incorporated, now known as Coherent Corp.
Frequently Asked Questions
The main purpose of this 8-K filing is to announce the company's organizational realignment into two new reporting segments and to provide reclassified segment information via an accompanying press release.
Coherent Corp. (formerly II-VI Incorporated) will begin reporting its financial information under the new Compound Semiconductors and Photonic Solutions segments in fiscal year 2020.
The company realigned its organizational structure to better align with its operational decision-making processes and its methods for assessing financial performance.
The two new reporting segments are (i) Compound Semiconductors and (ii) Photonic Solutions.