EMCORE Corporation (EMKR) posted a wider loss than expected last night and traders are punishing the stock, sending it plunging down 25% through support of the 200 day moving average. While revenues were about inline with analyst estimates at $50 million, the EPS number was deeper in the red than what analysts expected. EMKR posted a loss of .12/share vs the estimate for a loss of .04. With revenues stagnating and the EPS losses increasing … Read the rest
Tag Archives: EMCORE
EMCORE (EMKR) Breaking Out After Reporting Earnings
EMCORE (EMKR), is moving up nicely today with volume after reporting earnings. I don’t see anything in the report that would lead to a surge, but traders clearly like the direction the company is headed. They reported another loss of .03/share on revenues of $52 million which was 23% higher than the year ago quarter.
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The company expects revenues in the range of $46 – … Read the rest
Emcore (EMKR) Sells Off On Earnings
Emcore (EMKR) posted results this morning that weren’t all that bad, but failed to impress traders enough to keep the strong up trend intact. This is a company that is still looking to return to profitability for the first time since 2006 and it’s getting close which has been the reason the stock has doubled in the past three months. This feels like a sell the news day today with the company posting another quarterly … Read the rest
EMCORE (EMKR) Announces Unaudited Q3 Results, Shares Surge
EMCORE (EMKR) has finally announced its unaudited financial results for its third quarter after filing a delay with the SEC in August because the company needed more time to review its accounting for inventory write-downs.
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During the 3rd quarter, the company determined that about $2.5 million of excess and obsolete inventory should have been recorded in the quarter ending Sept 30th 2009. There were other … Read the rest
EMCORE (EMKR) And San’an Optoelectronics Begin Joint Venture To Produce Concentrator PV Products
EMCORE just announced that it has entered into a joint venture with San’an Optoelectronics to develop, manufacture and distribute concentration photovoltaic receivers, modules and systems. EMCORE will own 40% of the JV company, which will be called Suncore Photovoltaics Co., Ltd. San’an Optoelectronics will own the remaining 60%. The new company will set up its manufacturing facilities in Wuhu City, China, to take advantage of incentives provided by the city government.
Emcore (EMKR) Narrows Loss, Closer To Profitability
EMCORE (EMKR) appears to be on the verge of profitability again after 3 years of losses (6 of past 7). The company reported an EPS loss .02 on revenues of $48.2 million. I see that only one analyst covers the stock and only see a revenue estimate of $45.5 million at Yahoo, so the company beats there. That’s a big improvement over the .19/share loss the company reported in the year ago quarter and marks … Read the rest
EMCORE (EMKR) Gets $10 Millionish Solar Space Deal From ATK Space Systems
EMCORE (EMKR) is winning an increasing number of solar panel contracts to be used in spacecraft and it got another one today. The company announced a $9 – 11 million deal to provide solar panels for ATK Space Systems UltraFlex solar arrays to be used in the Orion spacecraft being developed by Lockheed Martin for NASA. The initial contract is for two vehicles, but could be expanded.
The Orion is expected to be the … Read the rest
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 … Read the rest
EMCORE Corporation (EMKR) Awarded Solar Contract By Boeing (BA)
EMCORE just announced that it is working with Boeing Corporation and other leading companies on the Fast Access Spacecraft Testbed (FAST) program for the Defense Advanced Research Projects Agency (DARPA). The project aims to develop a power generation system capable of creating 175 kilowatts of power. The system would be used to power spacecraft for ultra-high-power communications, space radar, satellite transfer and servicing missions. EMCORE will supply solar components for the system. Other companies on … Read the rest
Emcore (EMKR) Gets Air Force Solar Contract For Space Applications
EMCORE (EMKR) is announcing yet another solar contract for space applications. Just last week Alison reported the news that Emcore had been awarded a NASA contract to produce solar panels for the Global Precipitation Measurement aircraft. Today, the company is announcing a $5.7 million contract with the Air Force to develop high efficiency solar cells for space applications and includes a provision for an additional one year award of $3.4 million for advanced IMM … Read the rest