Emcore Stock Price, News & Analysis

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.

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.