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EMCORE Corporation (Nasdaq: EMKR) is a leading provider of advanced mixed-signal optics products and inertial navigation systems tailored for both high-speed communication networks and cutting-edge defense applications. With core technologies rooted in Photonic Integrated Chips (PIC), Quartz MEMS, and Lithium Niobate, EMCORE offers a comprehensive range of optical chips, components, subsystems, and system-level products that bolster the capabilities of broadband and wireless providers, as well as defense systems.
Recently, EMCORE has undergone significant restructuring to focus solely on its inertial navigation business, culminating in the completion of the sale of its Broadband segment product lines and Defense Optoelectronics products to Ortel LLC, a subsidiary of Photonics Foundries, Inc. This strategic shift positions EMCORE as a pure-play supplier of state-of-the-art inertial navigation solutions serving the aerospace and defense markets.
EMCORE's product portfolio includes Fiber Optic Gyros (FOG), Quartz MEMS (QMEMS), and Ring Laser Gyros (RLG), offering unmatched accuracy and reliability in navigation and sensing applications. These products are critical for various sectors, including telecommunications, satellite communications, navigation systems, and military communications.
Headquartered in Alhambra, California, with additional facilities in Budd Lake, New Jersey; Concord, California; and Tinley Park, Illinois, EMCORE maintains a robust vertically-integrated manufacturing capability. All of its sites are ISO 9001 certified for quality management, with its aerospace facilities also meeting AS9100 certification standards.
EMCORE has also entered into a long-term supply partnership with Kratos Unmanned Aerial Systems to deliver its flagship Quartz MEMS Inertial Measurement Units for several advanced defense programs, including the XQ-58 Valkyrie. This collaboration underscores EMCORE's pivotal role in enhancing the effectiveness and reliability of unmanned aerial systems for the U.S. military.
Financially, EMCORE has shown resilience through its transition. The company reported consolidated revenues of $26.8 million for 4Q23, despite facing challenges such as export license timing issues and PCB material shortages. EMCORE continues to focus on revenue growth in its inertial navigation segment, with projected revenues of $26-$28 million for 1Q24.
Given its strategic pivot and robust technological portfolio, EMCORE is well-positioned to drive innovation and value in the aerospace and defense sectors. For more details, visit their official website at www.emcore.com.
EMCORE Corporation (Nasdaq: EMKR) announced preliminary revenue of approximately $33.5 million for Q4 FY2020, exceeding previous guidance of $29 million to $31 million.
CEO Jeff Rittichier attributed the growth to increased investments from MSOs in the Broadband sector, along with strong shipments of L-EML transmitters and notable revenue from Aerospace & Defense segments. EMCORE anticipates a robust order book for cable TV products extending into March 2021. Final financial results will be released during the week of November 30, 2020.
EMCORE Corporation (NASDAQ: EMKR) announced the launch of EMCORE-Advance, a Development & Branding Program for its Defense Optoelectronics segment. Scheduled for rollout in December 2020, the program aims to enhance systems integrators' capabilities to secure business and boost profits. Key features include customizable tools, preferential pricing, and expedited customer support. This initiative is expected to leverage EMCORE’s vertical integration and advanced design capabilities, providing integrators a competitive edge.
EMCORE Corporation (NASDAQ: EMKR) announced the launch of the Model 1790 1550 nm High-Power Laser Module, specifically designed for LiDAR and optical sensing applications. With a high optical output power of 18 dBm and a narrow linewidth, the module supports FMCW LiDAR systems and has been adopted by a major autonomous vehicle provider. Developed over three years, it features a compact design, operates in a wide temperature range, and is compliant with Telcordia Technologies GR-468 and RoHS standards. The company is optimistic about expanding its laser technology applications across various industries.
EMCORE Corporation (NASDAQ: EMKR) has secured a $3.6 million contract from Raytheon Technologies to supply SDI500 Inertial Measurement Units (IMUs) for the MK 54 lightweight torpedo program. The delivery is expected by September 2021. The MK 54 torpedo is designed for superior tracking and targeting capabilities in various environments. EMCORE's SDI500 IMU promises high performance with <1º/hr bias stability, enhancing the torpedo's guidance and control while improving cost-effectiveness and sustainability for Raytheon and its clients.
EMCORE Corporation (NASDAQ: EMKR) announced its participation in the Jefferies Virtual Semiconductor, IT Hardware & Communications Infrastructure Summit on September 1, 2020. As a top provider of advanced mixed-signal products, EMCORE serves the aerospace, defense, and broadband communications markets. The company's technology supports applications such as 5G wireless infrastructure and optical sensing. Its manufacturing facilities in California maintain ISO 9001 certification and are AS9100 aerospace quality certified, ensuring high standards in production.
EMCORE Corporation (Nasdaq: EMKR) announced its fiscal Q3 2020 results, reporting a consolidated revenue of $27.3 million, up from $23.8 million in Q2. The Aerospace & Defense segment generated $14.0 million, while the Broadband segment contributed $13.3 million. Net loss improved to $1.3 million from $5.1 million in the prior quarter, with adjusted EBITDA turning positive at $0.3 million. Management anticipates Q4 revenue between $29 million and $31 million, fueled by strong demand across segments despite ongoing pandemic challenges.
EMCORE Corporation (NASDAQ: EMKR) will announce its fiscal 2020 third quarter results for the period ending June 30, 2020, on August 5, 2020, after market close. A conference call is scheduled for August 6, 2020, at 8:00 a.m. ET, where CEO Jeff Rittichier and CFO Tom Minichiello will discuss the results and current business conditions. The call can be accessed via phone or webcast, and a replay will be available on the company’s website after the call.
EMCORE specializes in advanced mixed-signal products for aerospace & defense and broadband communications, utilizing technology such as Quartz MEMS and Indium Phosphide.
EMCORE Corporation (Nasdaq: EMKR) reported a revenue of $23.8 million for 2Q20, reflecting a 6% sequential decline. The Aerospace and Defense segment contributed $13.0 million, while the Broadband segment brought in $10.8 million. The net loss increased to $5.1 million compared to $1.3 million in the prior quarter. Despite disruptions from COVID-19, management indicated a positive outlook for 3Q20, with expected revenue between $25 million and $27 million. Cash and equivalents rose to $22.1 million, bolstered by a facility sale.
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