II-VI's core is in growing the precisely patterned crystals that enable the laser industry. They emphasize broad materials expertise, whereas peers emphasize what's narrowly required in the communications vertical.

Vertically, they serve the communications, industrial, and military markets primarily, but also a number of small high potential ones like gaming, biological research, and various sensing applications.

Their heart is in materials and lasers, but they vertically integrate where it's economical to do so. They sell transceivers, laser-tipped robotic arms, surveillance modules, etc.

Founded in 1971, they've been profitable every year since 1973. In 2016, they promoted just their third ever CEO. The external signs suggest this is a well-led company.

Current EPS of ~$1.10 is being pressured by a big investment in an emerging opportunity for lasers used in three-dimensional sensing, i.e. automated cars, gaming, maybe 3D printing, etc.