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.
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 2021 Q2 results for the period ended March 31, 2021, on May 5, 2021, after market close. The company will host a conference call at 8:00 a.m. ET on May 6, 2021, featuring CEO Jeff Rittichier and CFO Tom Minichiello, to discuss the results and current business conditions. Investors can join the call at 800-367-2403 or via a live webcast on EMCORE's website. The company specializes in advanced mixed-signal products for aerospace, defense, and broadband communications markets, with a focus on innovative technologies and quality manufacturing.
EMCORE Corporation (Nasdaq: EMKR) announced preliminary financial results for Q2 2021, projecting revenue of approximately $38.4 million, surpassing earlier guidance of $34 million to $36 million. This growth is attributed to improved production output in the Broadband segment, driven by investments from multiple MSOs to enhance network capacity. Final results are expected to be announced the week of May 3, 2021.
EMCORE Corporation (Nasdaq: EMKR) announced its SDI500/505 Inertial Measurement Unit (IMU) ranked 1st in accuracy in a U.S. Military-commissioned study assessing 19 competing IMUs. The study favored EMCORE's product over the Honeywell HG1700 for various weapons systems due to its compact size, weight, and power efficiency. The IMU demonstrated superior performance in flyout simulations, gaining recognition for its technical maturity and cost-effectiveness. Senior VP Albert Lu emphasized its competitiveness against older optical IMUs.
EMCORE Corporation (Nasdaq: EMKR) has secured a $1.1 million development contract from a major U.S. prime contractor to create a high-end Inertial Measurement Unit (IMU) for tactical intelligence systems. Following a successful prototype phase, EMCORE will deliver initial production units for system qualification. The IMU utilizes proprietary closed-loop Fiber Optic Gyro technology, offering significant advantages in size, weight, and performance compared to competitors. This contract signals a key win for EMCORE's Navigation business, enhancing its capabilities in meeting specific customer demands.
EMCORE Corporation (Nasdaq: EMKR) announced that its SDI500/SDI505 IMUs are not subject to International Traffic in Arms Regulations (ITAR), which will boost their marketability to international customers. The U.S. Department of State's Commodity Jurisdiction determination now classifies these products under Export Administration Regulations (EAR), resulting in fewer export restrictions. The SDI500/SDI505 units are designed for high-precision applications, outperforming other MEMS IMUs, while the SDN500 system integrates advanced gyros and GPS capabilities.
EMCORE Corporation (Nasdaq: EMKR) has successfully closed its public offering of 6,655,093 shares of common stock at a price of $5.40 per share, yielding gross proceeds of approximately $35.9 million. This includes the underwriters' full option to purchase an additional 868,056 shares. The offering was made under a shelf registration statement previously filed with the SEC. Cowen served as book-running manager, with Craig-Hallum as co-manager. The funds will support EMCORE's operations and growth in advanced mixed-signal products for aerospace, defense, and broadband communications.
EMCORE Corporation (Nasdaq: EMKR) has priced an underwritten public offering of 5,787,037 shares of common stock at $5.40 per share, aiming to raise approximately $31.2 million in gross proceeds. The offering is expected to close by February 16, 2021, subject to customary conditions. Additionally, EMCORE has granted underwriters a 30-day option to purchase up to 868,056 shares at the same price. Cowen is the book-running manager, while Craig-Hallum Capital Group is the co-manager. The offering utilizes a previously effective shelf registration statement with the SEC.
EMCORE Corporation (Nasdaq: EMKR) announced its intention to conduct an underwritten public offering of common stock, granting underwriters a 30-day option for an additional 15%. The offering is subject to market conditions, and no assurance can be given on its completion or terms. Cowen is the book-running manager. This offering follows an effective shelf registration statement filed with the SEC. The release mentions forward-looking statements and acknowledges potential risks that may affect the offering.
EMCORE Corporation (Nasdaq: EMKR) reported consolidated revenue of $33.4 million for the first quarter of fiscal 2021, with net income of $2.6 million. The Aerospace & Defense segment generated $13.6 million in revenue, while the Broadband segment contributed $19.8 million. Adjusted EBITDA stood at $4.4 million. The company anticipates revenue for the second quarter to range between $34 million to $36 million. EMCORE continues to navigate COVID-related challenges and expresses optimism about growth in its Aerospace & Defense vertical.
EMCORE Corporation (Nasdaq: EMKR) reported a consolidated revenue of $33.4 million for fiscal Q1 2021, slightly down from the previous quarter. The Aerospace & Defense segment generated $13.6 million, while the Broadband segment contributed $19.8 million. Net income increased to $2.6 million, compared to $0.7 million in Q4 2020. Adjusted EBITDA rose to $4.4 million. The company anticipates Q2 revenue between $34 million and $36 million. The management remains optimistic about growth prospects despite facing COVID-19 supply chain challenges.
FAQ
What is the current stock price of Emcore (EMKR)?
What is the market cap of Emcore (EMKR)?
What does EMCORE Corporation specialize in?
What recent strategic changes has EMCORE undertaken?
Who are EMCORE's key partners?
What are EMCORE's main product categories?
Where is EMCORE headquartered?
What are EMCORE's financial highlights for 4Q23?
Which markets does EMCORE serve?
What certifications do EMCORE's facilities hold?
How has EMCORE transformed its business recently?
Where can I find more information about EMCORE?
