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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 a significant transition in its operations with the termination of its 2019 agreement with Hytera, leading to new agreements with Fastrain. This allows EMCORE to shift its Cable TV (CATV) production to an Electronic Manufacturing Services (EMS) model, improving cost-efficiency. The new agreements include an equipment sale worth $1.4 million, extending the partnership with Fastrain until December 31, 2025. The changes aim to enhance operational efficiencies and meet market demands for CATV products.
EMCORE Corporation (Nasdaq: EMKR) reported fiscal 2021 third-quarter results with consolidated revenue of $42.7 million, up from $38.4 million in the previous quarter. The Broadband segment generated $30.3 million in revenue, marking an 11% increase sequentially. Net income reached $13.6 million, significantly higher than $4.4 million in 2Q21. The company expects fourth-quarter revenue to be between $42 million and $44 million.
Gross margins improved to 40%, driven by strong performance in Broadband.
EMCORE Corporation (Nasdaq: EMKR) will announce its fiscal 2021 Q3 results for the period ending June 30, 2021, on August 4, 2021, after market close. A conference call will be held on August 5, 2021, at 8:00 a.m. ET, featuring CEO Jeff Rittichier and CFO Tom Minichiello, who will discuss the results and current business conditions. The call can be accessed by dialing 800-353-6461 or +1 334-323-0501 for international callers. EMCORE specializes in advanced mixed-signal products for aerospace, defense, and broadband communications, with ISO 9001 and AS9100 certifications.
EMCORE Corporation (Nasdaq: EMKR) has secured a $4.1 million supplement to its Fiber Optic Gyroscope contract with Raytheon Intelligence & Space. This addition will allow EMCORE to supply high-performance FOG modules for airborne optical targeting systems, continuing a relationship in which over 1,200 units have already been delivered. The contract builds on a previous $18 million agreement, showcasing EMCORE's robust capabilities in advanced mixed-signal products for aerospace and defense markets.
EMCORE Corporation (Nasdaq: EMKR) will host a webinar on July 21, 2021, in collaboration with Inside GNSS magazine. The session is titled “Resetting the Bar on Inertial Sensor SWaP for Tactical and Navigation Applications.” It will showcase EMCORE's advancements in inertial technology, particularly in gyroscopes and Inertial Measurement Units (IMUs). The discussion will highlight the advantages of EMCORE's Quartz MEMS over silicon MEMS, as well as the superior capabilities of its Fiber Optic Gyro (FOG) technology for various applications.
EMCORE Corporation (Nasdaq: EMKR) announced its inclusion in the Russell 2000® and Russell 3000® Indexes as of June 28, 2021. This milestone is expected to enhance the company's visibility and potentially increase shareholder value.
CEO Jeff Rittichier emphasized that this achievement reflects the company's growth momentum. EMCORE specializes in advanced mixed-signal products for aerospace, defense, and broadband communications markets, leveraging proprietary technologies in manufacturing.
On May 26, 2021, EMCORE Corporation (Nasdaq: EMKR) announced its participation in two upcoming virtual investor conferences. The first is the Cowen Technology, Media, & Telecom Conference on June 1, 2021, featuring a fireside chat at 9:50 AM ET. The second is the Craig-Hallum Institutional Investor Conference on June 2, 2021. EMCORE's management will conduct one-on-one meetings with registered investors. A live webcast of the Cowen Conference chat will be available, and a replay can be accessed later. Interested investors may contact EMCORE for further details.
EMCORE Corporation (Nasdaq: EMKR) will present at the 16th Annual Needham Virtual Technology & Media Conference on May 18, 2021, at 10:15 AM ET. Interested parties can access a live webcast of the presentation here. EMCORE specializes in advanced mixed-signal products for aerospace, defense, and broadband communications markets, leveraging technologies like Quartz MEMS and Indium Phosphide. The company has quality certifications including ISO 9001 and AS9100 for its manufacturing facilities located in Alhambra and Concord, CA.
EMCORE Corporation (Nasdaq: EMKR) reported fiscal 2021 second-quarter earnings, achieving consolidated revenue of $38.4 million, a 15% increase from the previous quarter. The Aerospace & Defense segment contributed $13.1 million while Broadband generated $25.3 million. Net income rose to $4.4 million, marking a positive trend for the third consecutive quarter. Adjusted EBITDA reached $6.9 million. Looking ahead, the company expects third-quarter revenues between $40 million and $42 million.
EMCORE Corporation (Nasdaq: EMKR) announced the launch of its new SDI170 Quartz MEMS Tactical Grade Inertial Measurement Unit (IMU), designed to replace the HG1700-AG58 Ring Laser Gyroscope IMU. This new unit offers enhanced performance, high versatility, and significantly improved Mean Time Before Failure (MTBF) ratings. The SDI170 is suitable for a variety of applications, including aircraft navigation, GPS-aided navigation, and autonomous vehicles. It will be available for shipment starting June 2021.
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