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EMCORE Corporation (EMKR)

  • 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.
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  • 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
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  • 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."
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  • 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.
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  • Sep. 18, 2014, 12:45 PM
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  • Sep. 18, 2014, 9:06 AM
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  • 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.
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  • 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.
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  • 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%.
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  • 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)
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  • 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.
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  • 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.
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  • 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)
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  • 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.
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  • Nov. 2, 2011, 11:30 AM
    JDS Uniphase's (JDSU +9.2%) FQ1 report is fueling a massive rally in optical component stocks, as the company's better-than-feared guidance goes over well with investors spooked by Thai flooding. CC comments about "significant improvements" in customer inventory levels might also be helping. FNSR +12.2%. OCLR +6.5%. OPLK +5.9%. EMKR +11.8%.
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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.