II-VI Inc. posted a record $3.1 billion in revenue for the past fiscal year, including a doubling of its consumer electronics revenue.

In an earnings report to investors Tuesday, the Clinton Township-based company boasted a roughly 30% increase in revenue one year after that figure hit the $2 billion mark for the first time.

Additionally, the company posted record revenue during three quarters, including $808 million in the fourth quarter, ending June 30.

In terms of profit, the company posted nearly $300 million in net earnings, with a $2.37 diluted earnings per share figure.

CEO Vincent D. Mattera Jr. said in the report that II-VI grew in each of its markets.

Its communications revenue grew 11%, which Mattera attributed to high-speed Datacom transceivers.

II-VI's life sciences revenue increased 65%, attributable primarily due to COVID-19 and other diagnostic testing.

Its biggest growth came in the consumer electronics market, which includes 3D sensing, in which II-VI doubled its fiscal year 2020 revenue.

“Our revenue in the industrial end market reached an all-time record for the quarter with contributions from across the product line,” Mattera said. “We continue to invest in manufacturing capacity for our silicon carbide platform, a disruptive technology in future RF (radio frequency) and power electronics applications. Our teams are working diligently to mitigate the impact of the pandemic and chip shortages in the supply chain.”

To investors, II-VI also boasted of its 10 consecutive years of revenue growth, having grown from $487 million in fiscal year 2011 to $3.1 billion this past year, bolstered in 2019 by its acquisition of Finisar.

A bigger acquisition, of Coherent Inc., has been approved by both companies' shareholders and is awaiting regulatory approvals and customary closing conditions, with closing of the transaction expected in early 2022.