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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) 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.
EMCORE Corporation (Nasdaq: EMKR), a leader in advanced mixed-signal products, has announced its participation in two upcoming investor conferences. The first will be a virtual event on June 1, 2022, at the 19th Annual Craig-Hallum Institutional Investor Conference. The second will take place in-person on June 2, 2022, at the Cowen 50th Annual Technology, Media, & Telecom Conference in New York City, featuring a 30-minute presentation at 10:15 AM ET. Investors can schedule one-on-one meetings and access live webcasts during the conferences.
EMCORE Corporation (Nasdaq: EMKR) has secured contracts exceeding $12 million for its Booster Rate Gyro (BoRG) and Tri-Axial Inertial Measurement Unit (TAIMU) programs in the space launch vehicle sector. The BoRG contract is for IMUs used in flight stabilization, while the TAIMU contract focuses on developing IMUs for navigation and flight control. If successful, EMCORE anticipates follow-on production contracts within the next year. These contracts stem from the company's acquisition of the L3Harris Space and Navigation business.
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