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EMCORE (EMKR) Gets 3Yr $17 Million Solar Supply Deal With Northrup Grumman (NOC)
EMCORE (EMKR) announced before the close today that they have secured a solar supply deal with Northrup Grumman (NOC) for Northrup’s space based global climate monitoring systems and other satellite missions through 2012. The deal has a potential value of $17 million. EMCORE is the leading player for solar applications in space based operations.
Christopher Larocca, EMCORE’s CEO, said, “Our proven manufacturing capabilities and unsurpassed reliability heritage make EMCORE the supplier of choice for demanding spacecraft power systems. We look forward to working with Northrop Grumman Aerospace Systems to power their satellite missions for many years to come.”
Shares of EMKR surged on the news initially before pulling back into the close. In my opinion, it sets up an interesting day trade situation for tomorrow morning.
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