Seeking Alpha

EMCORE Corporation (EMKR)

  • Thu, May 7, 3:36 PM
    • Tech companies rallying after posting calendar Q1 reports include online textbook rental/learning services provider Chegg (CHGG +14.6%), salvage auction site Liquidity Services (LQDT +10.3%), optical component maker Emcore (EMKR +6.7%), and health site owner WebMD (WBMD +6.7%).
    • Companies declining following earnings include cloud fleet management software vendor Fleetmatics (FLTX -6.8%), seismic hardware provider Ion Geophysical (IO -11.8%), and online stock photo marketplace Shutterstock (SSTK -4.7%).
    • Chegg beat Q1 estimates on the back of an 89% Y/Y increase in digital revenue (now 39% of total revenue. Q2 revenue guidance of $61M-$65M and full-year guidance of $300M-$315M is respectively favorable to consensus estimates of $62.2M and $304.3M at the midpoints.
    • Beaten-down Liquidity beat FQ2 estimates while reporting a 16.6% Y/Y drop in GMV to $189.4M. FQ3 guidance is for GMV of $175M-$200M and EPS of $0.05-$0.10 (below an $0.11 consensus).
    • Emcore beat FQ2 estimates and is guiding for FQ3 broadband fiber division revenue of $19M-$21M, above an $18.5M consensus.
    • WebMD beat Q1 estimates on the back of 21% Y/Y increases in monthly unique users (210M) and page views (4.25B). Q2 revenue guidance of $145M-$148M is below a $151.9M consensus, but full-year revenue guidance of $615M-$635M has been reiterated.
    • Fleetmatics beat Q1 estimates, but also guided for Q2 revenue of $67.9M-$68.7M and EPS of $0.24-$0.26, below a consensus of $69.5M and $0.30. Full-year guidance is for revenue of $281M-$283M and EPS of $1.26-$1.30 vs. a consensus of $288.8M and $1.29.
    • Ion, hit hard by declining oil exploration work, missed Q1 estimates while reporting 79%, 49%, and 12% Y/Y drops in Solutions, Systems, and Software revenue. The company expects "an increase in exploration spending over the back half of the year, albeit at lower than historical levels."
    • Shutterstock beat Q1 estimates, but also forecast Q2 revenue of $104M-$106M (below a $106.1M consensus). 2015 revenue guidance of $436M-$444M is in-line with a $439.5M consensus.
    • Previously covered: Alibaba, Qorvo, SunEdison, MeetMe, Priceline, Teradata, Activision, Gogo, Atmel, Varonis, Zynga
    | Comment!
  • Thu, Apr. 2, 12:43 PM
    • NeoPhotonics (NYSE:NPTN) discloses it has upped the size of its revolving credit line by $5M to $30M, and used it to pay off a $16M promissory note held by Emcore (EMKR -0.3%).
    • The note was given to Emcore (along with $1.5M in cash) last fall as payment for the purchase of Emcore's tunable laser/transceiver unit. It carried a 5% interest rate for year 1 and a 13% rate for year 2; by contrast, the credit facility currently features only a 3% rate.
    • NeoPhotonics had $64.3M in cash/investments at the end of 2014, and $58.9M in debt (including the Emcore note). Shares have been on a tear over the last month.
    | Comment!
  • Dec. 11, 2014, 5:05 PM
    • Along with its FQ4 results, Emcore (NASDAQ:EMKR) announces CEO Hong Hou is resigning. He's being replaced by Jeffrey Rittichier, who has previously served as the CEO of component vendor Xponent Photonics and as the GM of Lucent's access equipment unit. Rittichier takes over on Jan. 3.
    • Also: Citing the company's "smaller scale" following the sale of its space photovoltaics and telecom optical component ops, general counsel/corporate secretary Alfredo Gomez and chief administrative officer Monica Van Berkel are leaving.
    • FQ1 guidance is for revenue from continuing ops of $17M-$19M (up from FQ3's $14.3M), and a non-GAAP net loss of $1M-$2M. Due to the asset sales, the revenue outlook isn't comparable with a $48.4M consensus.
    • FQ4 results, PR
    | Comment!
  • Oct. 23, 2014, 10:03 AM
    • Emcore's (NASDAQ:EMKR) is selling its tunable laser and transceiver optical component businesses to NeoPhotonics (NYSE:NPTN) for $17.5M - $1.5M in cash and a $16M promissory note. The deal is expected to close in early January 2015.
    • The businesses accounted for 25% of Emcore's FY14 (ended Sep. '14) revenue.  Emcore notes the product lines being sold haven't historically been profitable.
    • NeoPhotonics: "EMCORE's narrow linewidth tunable laser product line is highly complementary to our broad existing portfolio of optical components for [100G] coherent transport systems ...  EMCORE's External Cavity Laser tunable laser has the narrowest linewidth in the industry, which we believe will become increasingly important for advanced modulation schemes at 400G and beyond."
    | Comment!
  • Sep. 29, 2014, 12:22 PM
    • Citing valuation, Needham has downgraded Emcore (NASDAQ:EMKR) to Hold.
    • Shares had made a fresh 52-week high of $6.03 on Friday. However, they're now only up 9% YTD.
    | Comment!
  • Sep. 18, 2014, 12:45 PM
    | 1 Comment
  • Sep. 18, 2014, 9:06 AM
    | Comment!
  • Sep. 17, 2014, 7:25 PM
    • Emcore (NASDAQ:EMKR) +32.8% AH after agreeing to sell its space photovoltaics business to P-E firm Veritas Capital for $150M.
    • Also, President and CEO Hong Hou will step down, which the company says is a result of the more narrowly focused business operations following the completion of the transaction; Hou will remain on until a successor is named.
    | Comment!
  • Jun. 20, 2013, 9:07 AM
    Emcore (EMKR) +6.1% premarket on news of a solar cell assembly supply contract with India's space research organization to manufacture, test and deliver high-efficiency multi-junction solar cell assemblies for commercial geostationary telecommunications and scientific earth observation satellite missions. The contract award is valued at $22M.
    | Comment!
  • May 21, 2013, 9:10 AM
    Premarket gainers: SDBT +66%. YGE +27%. EMKR +16%. HSOL +15%. JASO +13%. SOL +11%. LEDS +9%. NM +9%. TSL +8%. ACRX +8%. MCP +7%. AVL +7%. JKS +7%. RSOL +7%. LDK +7%. CSIQ +7%. REE +6%. DRYS +6%. SKS +6%.
    Losers: FSGI -46%. CIMT -10%. CUK -7%. NBG -6%. CCL -6%.
    | Comment!
  • May 21, 2013, 9:00 AM
    Emcore (EMKR) soars 13% premarket after saying ATK has awarded the company a contract to make solar cells that will power a satellite to carry the payload for NASA's Green Propellant Infusion Mission. (PR)
    | Comment!
  • Feb. 14, 2012, 7:35 PM
    Emcore (EMKR) trades up during the post-session, largely in relief after reporting its FQ1 earnings in-line with guidance. Q1 net revenue actually declined -28% Y/Y, primarily due to contractor supply problems stemming from the floods in Thailand last year that forced the company to suspend operations. Shares +4% AH.
    | 1 Comment
  • Jan. 30, 2012, 10:36 AM
    Well, that didn't go as planned: Emcore (EMKR -15.1%) tumbles after announcing a 1-for-4 reverse stock split. Perhaps investors fear the move is an attempt to draw attention away from Emcore's bleak near-term fundamentals.
    | Comment!
  • Dec. 28, 2011, 11:15 AM
    After selling off yesterday following its FQ4 report, Emcore (EMKR +21.4%) is soaring today. Though results missed estimates, and the company's FQ1 revenue guidance of $36M-$38M is well below a $51.2M consensus, investors appear to be taking heart in the company's prediction that optical and cable component production capacity lost to Thai flooding will be regained between March and May. (transcript)
    | Comment!
  • Dec. 27, 2011, 5:44 PM
    Solar panel maker Emcore (EMKR) trades down in the post-session after its Q4 EPS losses were much deeper than anticipated. Losses widened as its operations were curtailed by the flooding in Thailand during October, with the company noting the manufacturing infrastructure that supports roughly half of its fiber-optics segment revenue was heavily damaged. Shares -5.2% AH.
  • Dec. 5, 2011, 12:07 PM
    Solar panel manufacturer EMCORE (EMKR +4.2%) moves higher after being selected by ATK (ATK +1.5%) for a manufacturing contract, using its ZTJ solar cells in ATK's Ultraflex solar arrays. The solar panels will then be used to power cargo delivery spacecraft for Orbital Sciences' (ORB +2.5%) commercial resupply services missions to the International Space Station.
    | Comment!
Visit Seeking Alpha's
EMKR vs. ETF Alternatives
Company Description
Emcore Corp is a provider of compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite and terrestrial solar power markets.