II-VI completed its merger with Coherent. Coherent shareholders received $220 and 0.91 shares of II-VI common stock for each share of their company. The combined company will be known as Coherent and will trade under the ticker symbol COHR on the Nasdaq Stock Exchange. A start date for Coherent's stock on the stock market will be announced at a later date.

Coherent's GAAP net income for 6 months of fiscal year 2022 was $63.941 million, compared to a loss of $158.071 million in the prior year. Revenue increased 7.8% to $754.711 million from $700.035 million a year earlier.

Coherent's GAAP net income for 3 months of fiscal 2022 was $30.265 million, up 210 times from $0.144 million in the prior year. Revenue increased 17.9% to $384.507 million from $326.053 million a year earlier.

Coherent's GAAP loss for fiscal year 2021 was $106.751 million, down 3.9 times from $414.139 million in the prior year. Revenue increased 21.1 percent to $1.488 billion from $1.229 billion a year earlier.