EMCORE Corporation has just announced that it has a contract with NASA to produce solar panels for NASA’s Global Precipitation Measurement spacecraft. The spacecraft will study precipitation (rain, snow and ice) around the world, and is scheduled to launch in 2013. According to , the stock is going up in price as a result of the $5 million contract, which is to managed by MEI Technologies, Inc. Shares are already up by 30% this morning.… Read the rest
Tag Archives: EMCORE
EMCORE (EMKR) In Supply Agreement With Space Systems Loral
EMCORE just announced that it has entered into a supply agreement with Space Systems Loral. Under the agreement, EMCORE will produce high-efficiency, multi-junction PV cells and provide them to Space Systems Loral for use in their spacecraft program. The contract runs from this year until 2014.
In a press release, executives from EMCORE commented on the deal:
Christopher Larocca, Executive Vice President and General Manager of EMCORE’s Solar Photovoltaics Division, stated, "We have been … Read the rest
Emcore (EMKR) To Cut Jobs
Emcore announced yesterday in an SEC filing that it will slash its workforce to help the company cope with the liquidity issues it is currently facing. The scope of the job cuts was not disclosed in the filing, and they are only one part of a package of cost-cutting measures that Emcore plans to take. From PVtech.org, here are some of the other ways that Emcore is planning to address this issue:
… Read the restEMCORE is also
EMCORE (EMKR) 4th Quarter Results Show Larger Loss Than Expected
EMCORE released preliminary 4th quarter results today. The company performed below expectations, posting a net loss (GAAP) of $19.4 million, or .25/share. The previous year, the company had posted a loss of $17.5 million, or .34/share. Looking at the Non-GAAP numbers, net loss was 12 cents a share, well below Wall Street’s expectations of .01/share.
EMCORE advised that gap in performance was primarily related to "lower gross margins related to expenses on inventory write-downs and … Read the rest
Upgrades & Initiations to Buy: APWR,SPWR, EMKR
A few upgrades of green energy stocks this morning:
* A-Power Energy (APWR) Started at a Strong Buy by Raymond James
* Sunpower (SPWR) upgraded from Neutral to Buy on valuation and the PG&E deal by Merril Lynch
* Stanford Group initiates coverage on EMCORE (EMKR) with a Buy rating… Read the rest
EMCORE Corporation (EMKR) Lands Over $40 Million In Contracts
A press release from EMCORE Corporation, announces that the company has entered into two new agreements to deliver solar cells and receivers with a total value of over $40 million. The larger of the two purchase contracts is a multi-year supply agreement for solar cells. The customers placing these orders are targeting CPV (concentrating photovoltaics) use in the United States with a particular focus on the California market. The EMCORE products will be used in … Read the rest