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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) has secured an initial contract valued at $650K to supply multiple SDI170 MEMS Inertial Measurement Units (IMU) for precision-guided munitions. The contract comes from a prominent international weapons systems manufacturer. EMCORE anticipates being awarded larger contracts within the next 6-12 months based on the performance of the SDI170 units. These IMUs are designed to enhance the accuracy of munitions, transforming them into smart weapons for precise targeting. EMCORE specializes in advanced mixed-signal products serving aerospace and defense sectors.
EMCORE Corporation (Nasdaq: EMKR) reported its fiscal 2022 second quarter results, showing consolidated revenue of $32.7 million, down from $42.2 million in the previous quarter. The Aerospace and Defense (A&D) segment revenue was $9.0 million, while the Broadband segment generated $23.6 million. The company posted a net loss of $2.2 million, reflecting a decline in profit margins caused by higher semiconductor costs. For the third quarter, EMCORE anticipates revenue between $25 million and $27 million, factoring in $3.5 million from a newly acquired business.
EMCORE Corporation (Nasdaq: EMKR) has successfully acquired the L3Harris Space and Navigation business for approximately $5 million in cash. This acquisition scales EMCORE's inertial navigation offerings and broadens its market reach with new gyro and inertial measurement unit products. It includes the purchase of L3Harris's intellectual property and a 110,000 square foot production facility in Budd Lake, NJ. Additionally, EMCORE gains preferred supplier status with L3Harris, opening pathways for future collaborations in launch vehicle programs.
EMCORE Corporation (Nasdaq: EMKR) will release its fiscal 2022 second-quarter results on May 4, 2022, after market close. The company's executives, including CEO Jeff Rittichier and CFO Tom Minichiello, will host a conference call at 5:00 p.m. ET to discuss the results and current business conditions. Interested parties can join the call by dialing 800-304-0389 for domestic calls or +1 313-209-5140 for international calls. The call will also be available via webcast on the company's website, where a replay will be accessible after the event.
EMCORE Corporation (Nasdaq: EMKR) announced a contract extension valued at over $2 million for its Medallion 8100 Series L-EML CATV transmitters with a major European broadband MSO. Deliveries are set to begin in the second quarter of 2022. The innovative L-EML transmitter technology, launched in 2016, boasts superior performance for long-distance optical links compared to traditional systems. EMCORE is also set to showcase its solutions at ANGACOM 2022 in Cologne, Germany, further solidifying its market presence.
EMCORE Corporation (Nasdaq: EMKR) has unveiled its MAKO-X C/X-Band RF over Fiber Transceiver, designed for electronic warfare systems and high-dynamic-range applications. This military-grade transceiver operates from 3.4 GHz to 8.4 GHz and meets MIL-STD-810G and MIL-STD-461F standards. It simplifies RF systems by minimizing the need for copper equipment, thus reducing maintenance costs and increasing safety for military personnel. The MAKO-X will be showcased at Satellite 2022 in Washington D.C. from March 22-24.
EMCORE Corporation (Nasdaq: EMKR) has launched its new Model 1995 1550 nm High-Power Continuous Wavelength (CW) Source Distributed Feedback (DFB) Laser, aimed at LiDAR and autonomous vehicle applications. This compact laser delivers 15 dBm of CW optical power and features a design that reduces false readings in Frequency Modulation Continuous Wavelength (FMCW) sensing. EMCORE plans to showcase its optical sensing solutions at the Optical Fiber Conference from March 8-10, 2022.
EMCORE Corporation (Nasdaq: EMKR) has agreed to acquire the Space and Navigation Business from L3Harris (NYSE: LHX) for approximately $5 million in cash. This acquisition will enhance EMCORE's Fiber Optic Gyroscope (FOG) product line and expand its market reach into the growing launch vehicle and space satellite sectors. The transaction includes significant assets, supply agreements, and an experienced technical team, expected to create operational synergies and be non-GAAP EPS accretive. The acquisition is anticipated to close by the end of Q2 2022.
EMCORE Corporation (Nasdaq: EMKR) reported fiscal 2022 first-quarter results for the period ending December 31, 2021, showing consolidated revenue of $42.2 million, down from $44.0 million in the previous quarter. Net income was $2.4 million and $5.3 million on a non-GAAP basis. The company recorded an adjusted EBITDA of $6.3 million. The A&D segment revenue fell to $9.9 million, while the Broadband segment revenue slightly increased to $32.3 million. EMCORE projects second-quarter revenue to range from $32 million to $34 million.
EMCORE Corporation (Nasdaq: EMKR) announced its participation in the Cowen 43rd Annual Aerospace/Defense & Industrials Virtual Conference on February 10, 2022, at 12:40 PM ET. The presentation will be accessible via live webcast, with a replay available afterward. EMCORE specializes in advanced mixed-signal products for aerospace, defense, and communications sectors. The company is vertically integrated, with manufacturing facilities in California certified for ISO 9001 and AS9100 quality standards.
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