Welcome to our dedicated page for Emcore news (Ticker: EMKR), a resource for investors and traders seeking the latest updates and insights on Emcore stock.
This page archives news coverage for EMCORE Corporation (EMKR), a former specialty fiber optics and defense technology manufacturer. EMCORE was acquired by Charlesbank Capital Partners and now operates as part of Velocity One, ending its history as an independently traded public company.
Browse historical news to understand EMCORE's business evolution, from its roots in fiber optic component manufacturing for cable television and telecommunications networks to its expansion into aerospace and defense applications. The company's dual focus on commercial broadband infrastructure and military-grade navigation systems made it a unique player in the photonics industry.
The news archive documents EMCORE's quarterly earnings announcements, contract wins with defense customers, product launches, and the corporate developments that led to its eventual acquisition. Researchers and investors can use this historical record to understand the competitive dynamics of the fiber optics industry and trace how market conditions affected specialty component manufacturers.
For those tracking the successor entity Velocity One or researching the fiber optic gyroscope and defense communications markets, this archive provides context on EMCORE's technology portfolio and customer relationships before the ownership transition.
EMCORE Corporation (Nasdaq: EMKR) will present at the 25th Annual Needham Growth Conference on January 10, 2023, at 8:45 AM ET. A live webcast of the presentation can be accessed at this link, with replays available afterward on their investor site. EMCORE specializes in advanced mixed-signal products for aerospace, defense, and communications. They leverage technologies like Photonic Integrated Chips and maintain manufacturing capabilities across multiple U.S. locations, all certified under ISO 9001 and AS9100 standards.
EMCORE Corporation (EMKR) reported its 4Q22 results, revealing consolidated revenues of $25.6 million, with $21.0 million from Aerospace and Defense (A&D) and $4.6 million from Broadband. The company faced a net loss of $16.9 million and a negative adjusted EBITDA of $9.4 million. The A&D segment saw revenue growth due to the acquisition of Inertial Navigation product lines, but gross margin decreased to 4%. The Broadband segment revenue fell by $5.7 million, primarily due to a decline in CATV revenue. Future revenue guidance for Q1 FY2023 is projected between $25 million and $27 million.
EMCORE Corporation (Nasdaq: EMKR) has successfully completed the sale and leaseback of its Tinley Park, IL facility, as per a Purchase and Sale Agreement signed on November 1, 2022. This transaction has generated $10.3 million in net cash proceeds for the company. EMCORE is notable for its advanced mixed-signal products that cater to aerospace & defense, communications, and sensing markets. The company emphasizes its commitment to quality with ISO 9001 and AS9100 certifications in its manufacturing facilities.
EMCORE Corporation (Nasdaq: EMKR) will announce its fiscal 2022 fourth-quarter results on December 20, 2022, after market close. The conference call for discussing these results is scheduled for 5:00 p.m. ET, featuring CEO Jeff Rittichier and CFO Tom Minichiello. EMCORE specializes in advanced mixed-signal products for aerospace, defense, and communications markets, leveraging technology such as Photonic Integrated Chips and MEMS. Their facilities maintain ISO 9001 and AS9100 certifications, ensuring quality in manufacturing.
EMCORE Corporation announced the launch of the TAC-450 line of Inertial Measurement Units (IMUs), which includes three high-performance models designed for commercial and military applications. Featuring tactical-grade photonic Fiber Optic Gyros (FOGs), these IMUs offer robust performance, compact design, and exceptional navigation capabilities. The new line aims to enhance autonomous applications in sectors including transportation and military. EMCORE's Photonic Integrated Chip (PIC) technology ensures reliability and longer product life, making these advanced sensors suitable for challenging environments.
EMCORE Corporation (Nasdaq: EMKR) will participate in the 13th Annual Craig-Hallum Alpha Select Conference on November 17, 2022, in New York City. The event will begin at 8:00 AM ET, where management will host one-on-one meetings with registered investors. EMCORE specializes in mixed-signal products for aerospace, defense, communications, and sensing markets, leveraging advanced technologies and vertical manufacturing capabilities in California, New Jersey, and Illinois. More information is available on Craig-Hallum's website.
On September 15, 2022, EMCORE Corporation (Nasdaq: EMKR) announced the integration of its inertial navigation team with that of KVH Industries, following the acquisition of KVH's inertial navigation business. This marks EMCORE as the largest independent inertial navigation provider. The combined capabilities will be showcased at the ION GNSS+ Conference on September 21-22, highlighting their extensive product portfolio in inertial navigation technologies. EMCORE aims to serve diverse market needs, including aerospace, defense, and industrial sectors.
EMCORE Corporation (Nasdaq: EMKR) announced the adoption of its 2022 New Employee Inducement Plan, effective August 8, 2022. This plan is designed to grant equity awards to new hires, particularly those who were not previously associated with EMCORE. On August 10, 2022, the Board granted 363,100 restricted stock units to 124 new employees linked to the acquisition of KVH Industries' Fiber Optic Gyroscope and Inertial Navigation Systems business. The announcement complies with Nasdaq Listing Rule 5635(c)(4).
EMCORE Corporation (Nasdaq: EMKR) reported its fiscal 2022 third-quarter results and announced the acquisition of KVH Industries' Fiber Optic Gyroscope and Inertial Navigation Systems for approximately $55 million. The new business is expected to generate over $30 million annually and is EBITDA-positive. However, EMCORE's consolidated revenue fell to $23.7 million, with a net loss of $7.6 million. The company anticipates Q4 revenue between $24 million and $26 million, partly due to the KVH acquisition. Key performance issues included supply chain delays affecting their QMEMS product line.
EMCORE Corporation (Nasdaq: EMKR) will release its fiscal 2022 third-quarter results on August 9, 2022, after market close. The results will be discussed in a conference call at 5:00 p.m. ET, featuring CEO Jeff Rittichier and CFO Tom Minichiello. EMCORE is known for its advanced mixed-signal products in aerospace, defense, and communications. They boast vertically-integrated manufacturing across multiple locations and maintain critical quality certifications, including ISO 9001 and AS9100 for aerospace.
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