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
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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 Corporation (EMKR) Reports 15% Revenue Increase
EMCORE Corporation just announced that the company’s revenue for the first quarter of fiscal year 2009 is up by 15% over the first quarter of last year. From PV-tech.org, here are the preliminary numbers:
… Read the restRevenue for EMCORE’s photovoltaics segment was $14.9 million, a 15% increase from $12.9 million reported for the same period last year, and an increase of $0.4 million, or 3%, from $14.5 million in the preceding quarter. The photovoltaics segment represented 28%
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
EMCORE (EMKR) Introduces CPV Solar Power System In China
EMCORE Corporation announced that it has set up the first EMCORE concentrator photovoltaic system (CPV). The CPV system was set up in China with the help of XinAo Group. It is already installed and operational. Here is a little bit more information about the system, as well as future system installations in the Chinese market:
… Read the restThe deployed 50 kilowatt (kW) CPV system is power-driven by state-of-the-art, high-efficiency compound semiconductor-based multi-junction solar cells, operating with 500x
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