EMCORE Corporation (Nasdaq: EMKR), a leading provider of advanced
mixed-signal products that serve the aerospace & defense and
broadband communications markets, today announced results for the
fiscal 2021 third quarter ended June 30, 2021 (3Q21). Management
will host a conference call to discuss financial and business
results tomorrow, Thursday, August 5, 2021, at 8:00 AM Eastern
Time.
Consolidated revenue for 3Q21 was $42.7 million, comprised of
$12.3 million from the Aerospace & Defense segment and $30.3
million from the Broadband segment. Net income was $13.6 million
and $7.9 million on a GAAP and non-GAAP basis, respectively.
Adjusted EBITDA was $8.9 million. Please refer to the schedules at
the end of this press release for GAAP to non-GAAP reconciliations
and other information related to non-GAAP financial measures.
“The Broadband business segment drove record financial
performance for EMCORE. Revenue, up 11% on a sequential quarter
basis, and gross margins above 40% drove substantial bottom-line
growth on both a GAAP and non-GAAP basis, as well as strong
operating cash flow,” said Jeff Rittichier, Chief Executive Officer
of EMCORE. “A&D gross margin increased as our Navigation
business grew sequentially on stronger QMEMS and FOG revenue.”
Consolidated Results
|
Three Months Ended |
|
|
Jun 30, 2021 |
Mar 31, 2021 |
+increase/-decrease |
|
3Q21 |
2Q21 |
Revenue |
$42.7M |
$38.4M |
+$4.3M |
Gross Margin |
|
40% |
|
|
38% |
|
|
+2% |
|
Operating
Expenses |
$10.8M |
$10.1M |
+$0.7M |
Operating
Margin |
|
15% |
|
|
12% |
|
|
+3% |
|
Net
Income (1) |
$13.6M |
$4.4M |
+$9.2M |
Earnings Per Share Diluted (1) |
|
$0.35 |
|
|
$0.13 |
|
|
+$0.22 |
|
Non-GAAP Gross Margin (2) |
|
41% |
|
|
39% |
|
|
+2% |
|
Non-GAAP
Operating Expenses (2) |
$9.6M |
$8.9M |
+0.7M |
Non-GAAP
Operating Margin (2) |
|
19% |
|
|
15% |
|
|
+4% |
|
Non-GAAP
Net Income (2) |
$7.9M |
$5.9M |
+$2.0M |
Non-GAAP Earnings Per Share Diluted (2) |
|
$0.20 |
|
|
$0.17 |
|
|
+$0.03 |
|
Adjusted EBITDA |
$8.9M |
$6.9M |
+$2.0M |
Ending Cash and Cash Equivalents |
$68.3M |
$65.3M |
+$3.0M |
(1) 3Q21 includes $7.4M of non-recurring gains related to
extinguishment of debt and expiring tax-related liabilities. |
(2) Please refer to the schedules at the end of this press release
for GAAP to non-GAAP reconciliations and other information related
to non-GAAP financial measures. |
Aerospace and Defense (A&D) Segment
A&D’s sequential-quarter revenue decrease was due to lower
sales of Defense Optoelectronics products, partly offset by
increased Navigation revenue. The higher A&D gross margin was
driven primarily by improved QMEMS margins. R&D expense was
higher as a result of increased project material costs and lower
revenue-related engineering labor recorded as cost of goods
sold.
|
Three Months Ended |
|
|
Jun 30, 2021 |
Mar 31, 2021 |
+increase/-decrease |
|
3Q21 |
2Q21 |
A&D Segment Revenue (1) |
$12.3M |
$13.1M |
-$0.8M |
A&D Segment Gross Margin |
|
31% |
|
|
29% |
|
|
+2% |
|
A&D
Segment R&D Expense |
$3.6M |
$3.2M |
+$0.4M |
A&D Segment Profit (1) |
$0.3M |
$0.6M |
-$0.3M |
Non-GAAP A&D Segment Gross Margin (2) |
|
33% |
|
|
30% |
|
|
+3% |
|
Non-GAAP
A&D Segment R&D Expense (2) |
$3.5M |
$3.0M |
+$0.5M |
Non-GAAP A&D Segment Profit |
$0.6M |
$0.9M |
-$0.3M |
(1) Individual components may not sum to the total of reported
consolidated amounts due to rounding. |
(2) Please refer to the schedules at the end of this press release
for GAAP to non-GAAP reconciliations and other information related
to non-GAAP financial measures. |
Broadband Segment
Broadband’s sequential-quarter revenue increase was driven by
record sales of Cable TV products, which also drove a slightly
better gross margin. R&D expense increased due to higher
project material costs.
|
Three Months Ended |
|
|
Jun 30, 2021 |
Mar 31, 2021 |
+increase/-decrease |
|
3Q21 |
2Q21 |
Broadband Segment Revenue (1) |
$30.3M |
$25.3M |
+$5.0M |
Broadband Segment Gross Margin |
|
44% |
|
|
43% |
|
|
+1% |
|
Broadband
Segment R&D Expense |
$0.9M |
$0.6M |
+$0.3M |
Broadband Segment Profit (1) |
$12.5M |
$10.2M |
+$2.3M |
Non-GAAP Broadband Segment Gross Margin (2) |
|
44% |
|
|
43% |
|
|
+1% |
|
Non-GAAP
Broadband Segment R&D Expense (2) |
$0.8M |
$0.5M |
+$0.3M |
Non-GAAP Broadband Segment Profit |
$12.6M |
$10.4M |
+$2.2M |
(1) Individual components may not sum to the total of reported
consolidated amounts due to rounding. |
(2) Please refer to the schedules at the end of this press. release
for GAAP to non-GAAP reconciliations and other information related
to non-GAAP financial measures. |
Business Outlook
The Company expects revenue for the fiscal 2021 fourth quarter
ending September 30, 2021 to be in the range of $42 million to $44
million.
Conference Call
The Company will discuss its financial results on August 5, 2021
at 8:00 a.m. ET (5:00 a.m. PT). The call will be available, live,
to interested parties by dialing 800-353-6461. For international
callers, please dial +1 334-323-0501. The conference passcode
number is 9771183. The call will be webcast live via the Company's
website at http://www.emcore.com. A webcast will be available for
replay beginning Thursday, August 5, 2021 following the conclusion
of the call.
About EMCORE
EMCORE Corporation is a leading provider of advanced
mixed-signal products that serve the aerospace & defense and
broadband communications markets. Our best-in-class components and
systems support a broad array of applications including navigation
and inertial sensing, defense optoelectronics, broadband transport,
5G wireless infrastructure, optical sensing, and cloud data
centers. We leverage industry-leading Quartz MEMS, Lithium Niobate
and Indium Phosphide chip-level technology to deliver
state-of-the-art component and system-level products across our
end-market applications. EMCORE has vertically-integrated
manufacturing capability at its wafer fabrication facility in
Alhambra, CA, and Quartz MEMS manufacturing facility in Concord,
CA. Our manufacturing facilities maintain ISO 9001 quality
management certification, and we are AS9100 aerospace quality
certified at our facility in Concord. For further information about
EMCORE, please visit http://www.emcore.com.
Use of Non-GAAP Financial Measures
The Company conforms to U.S. Generally Accepted Accounting
Principles (“GAAP”) in the preparation of its financial statements.
We disclose supplemental non-GAAP earnings measures for gross
profit margin, operating expenses, operating profit margin, net
income, and earnings per share, as well as adjusted EBITDA.
Management believes these supplemental non-GAAP measures reflect
the Company’s core ongoing operating performance and facilitates
comparisons across reporting periods. The Company uses these
measures when evaluating its financial results and for planning and
forecasting of future periods. We believe that these supplemental
non-GAAP measures are also useful to investors in assessing our
operating performance. While we believe in the usefulness of these
supplemental non-GAAP measures, there are limitations. Our non-GAAP
measures may not be reported by other companies in our industry
and/or may not be directly comparable to similarly titled measures
of other companies due to potential differences in calculation. We
compensate for these limitations by using these non-GAAP measures
as a supplement to GAAP and by providing the reconciliations to the
most comparable GAAP measure.
The schedules at the end of this press release reconcile the
Company’s non-GAAP measures to the most directly comparable GAAP
measure. The adjustments share one or more of the following
characteristics: they are unusual and the Company does not expect
them to recur in the ordinary course of its business, they do not
involve the expenditure of cash, they are unrelated to the ongoing
operation of the business in the ordinary course, or their
magnitude and timing is largely outside of the Company’s control.
For all reporting periods disclosed, the Company has applied
consistent rationale, method, and adjustments in reconciling
non-GAAP measures to the most directly comparable GAAP measure.
Non-GAAP measures are not in accordance with or an alternative
to GAAP, nor are they meant to be considered in isolation or as a
substitute for comparable GAAP measures. Our disclosures of these
measures should be read only in conjunction with our financial
statements prepared in accordance with GAAP. Non-GAAP measures
should not be viewed as a substitute for the Company’s GAAP
results.
Forward-Looking Statements
The information provided herein may include forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934
(“Exchange Act”). These forward-looking statements are largely
based on our current expectations and projections about future
events and financial trends affecting the financial condition of
our business. Such forward-looking statements include, in
particular, projections about our future results, statements about
our plans, strategies, business prospects, changes and trends in
our business and the markets in which we operate.
These forward-looking statements may be identified by the use of
terms and phrases such
as “anticipates”, “believes”, “can”, “could”, “estimates”, “expects”, “forecasts”, “intends”, “may”, “plans”, “projects”, “targets, “will”,
and similar expressions or variations of these terms and similar
phrases. Additionally, statements concerning future matters such as
projected financial results, the development of new products,
enhancements or technologies, sales levels, expense levels and
other statements regarding matters that are not historical are
forward-looking statements. We caution that these forward-looking
statements relate to future events or our future financial
performance and are subject to business, economic, and other risks
and uncertainties, both known and unknown, that may cause actual
results, levels of activity, performance or achievements of our
business or our industry to be materially different from those
expressed or implied by any forward-looking statements.
These forward-looking statements involve risks and uncertainties
that could cause actual results to differ materially from those
projected, including without limitation, the following: (a)
uncertainties regarding the effects of the COVID-19 pandemic, the
length of time it will take for the COVID 19 pandemic to subside,
and the impact of measures intended to reduce its spread on our
business and operations, which is evolving and beyond our control;
(b) the rapidly evolving markets for the Company's products and
uncertainty regarding the development of these markets; (c) the
Company's historical dependence on sales to a limited number of
customers and fluctuations in the mix of products and customers in
any period; (d) delays and other difficulties in commercializing
new products; (e) the failure of new products: (i) to perform as
expected without material defects, (ii) to be manufactured at
acceptable volumes, yields, and cost, (iii) to be qualified and
accepted by our customers, and (iv) to successfully compete with
products offered by our competitors; (f) uncertainties concerning
the availability and cost of commodity materials and specialized
product components that we do not make internally; (g) actions by
competitors; (h) risks and uncertainties related to applicable laws
and regulations, including the impact of changes to applicable tax
laws and tariff regulations; (i) acquisition-related risks,
including that (i) the revenues and net operating results obtained
from our acquisition of the Systron Donner Inertial ("SDI")
business may not meet our expectations, (ii) there could be losses
and liabilities arising from the acquisition of SDI that we will
not be able to recover from any source, and (iii) we may not
realize sufficient scale in our navigation systems product line
from the SDI acquisition and will need to take additional steps,
including making additional acquisitions, to achieve our growth
objectives for this product line; (j) risks related to our ability
to obtain capital; (k) risks related to the transition of certain
of our manufacturing operations from our Beijing facility to a
contract manufacturer’s facility; (l) risks and uncertainties
related to manufacturing and production capacity and expansion
plans related thereto; (m) risks related to the conversion of order
backlog into product revenue; and (n) other risks and uncertainties
discussed under Item 1A - Risk Factors in our Annual Report on Form
10-K for the fiscal year ended September 30, 2020, as updated by
our subsequent periodic reports.
Forward-looking statements are based on certain assumptions and
analysis made in light of our experience and perception of
historical trends, current conditions and expected future
developments as well as other factors that we believe are
appropriate under the circumstances. While these statements
represent our judgment on what the future may hold, and we believe
these judgments are reasonable, these statements are not guarantees
of any events or financial results. All forward-looking statements
in this press release are made as of the date hereof, based on
information available to us as of the date hereof, and subsequent
facts or circumstances may contradict, obviate, undermine, or
otherwise fail to support or substantiate such statements. We
caution you not to rely on these statements without also
considering the risks and uncertainties associated with these
statements and our business that are addressed in our filings with
the Securities and Exchange Commission (“SEC”) that are available
on the SEC’s web site located at www.sec.gov, including the
sections entitled “Risk Factors” in our Annual Report on
Form 10-K and our Quarterly Reports on Form 10-Q. Certain
information included in this press release may supersede or
supplement forward-looking statements in our other Exchange Act
reports filed with the SEC. We do not intend to update any
forward-looking statement to conform such statements to actual
results or to changes in our expectations, except as required by
applicable law or regulation.
EMCORE
CORPORATIONCondensed Consolidated Statement of
Operations and Comprehensive Income (Loss)(in
thousands, except for per share
data)(unaudited)
|
For the three months ended June
30, |
|
For the nine months ended June
30, |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Revenue |
$ |
42,658 |
|
$ |
27,266 |
|
$ |
114,490 |
|
$ |
76,598 |
Cost of revenue |
25,433 |
|
18,048 |
|
70,059 |
|
53,479 |
Gross profit |
17,225 |
|
9,218 |
|
44,431 |
|
23,119 |
Operating expense: |
|
|
|
|
|
|
|
Selling, general, and administrative |
6,081 |
|
5,936 |
|
17,941 |
|
18,962 |
Research and development |
4,500 |
|
4,807 |
|
12,567 |
|
14,033 |
Loss (gain) on sale of assets |
250 |
|
(312) |
|
439 |
|
(2,229) |
Total operating expense |
10,831 |
|
10,431 |
|
30,947 |
|
30,766 |
Operating income (loss) |
6,394 |
|
(1,213) |
|
13,484 |
|
(7,647) |
Other income (expense): |
|
|
|
|
|
|
|
Gain on extinguishment of debt |
6,561 |
|
— |
|
6,561 |
|
— |
Interest income (expense), net |
579 |
|
(40) |
|
481 |
|
(54) |
Foreign exchange gain (loss) |
87 |
|
(20) |
|
256 |
|
(29) |
Total other income (expense) |
7,227 |
|
(60) |
|
7,298 |
|
(83) |
Income (loss) before income tax (expense) benefit |
13,621 |
|
(1,273) |
|
20,782 |
|
(7,730) |
Income tax (expense)
benefit |
(6) |
|
(14) |
|
(214) |
|
27 |
Net income (loss) |
$ |
13,615 |
|
$ |
(1,287) |
|
$ |
20,568 |
|
$ |
(7,703) |
Foreign exchange translation
adjustment |
(5) |
|
2 |
|
(26) |
|
(5) |
Comprehensive income
(loss) |
$ |
13,610 |
|
$ |
(1,285) |
|
$ |
20,542 |
|
$ |
(7,708) |
Per share
data |
|
|
|
|
|
|
|
Net income (loss) per basic share |
$ |
0.37 |
|
$ |
(0.04) |
|
$ |
0.62 |
|
$ |
(0.27) |
Weighted-average number of
basic shares outstanding |
36,768 |
|
29,295 |
|
33,069 |
|
29,052 |
Net income (loss) per diluted
share |
$ |
0.35 |
|
$ |
(0.04) |
|
$ |
0.59 |
|
$ |
(0.27) |
Weighted-average number of
diluted shares outstanding |
38,893 |
|
29,295 |
|
34,777 |
|
29,052 |
|
|
|
|
|
|
|
|
|
EMCORE
CORPORATIONCondensed Consolidated Balance
Sheets(in
thousands)(unaudited)
|
As of |
|
June 30,2021 |
|
September 30,2020 |
ASSETS |
|
|
|
Current assets: |
|
|
|
Cash and cash equivalents |
$ |
67,191 |
|
$ |
30,390 |
Restricted cash |
1,106 |
|
148 |
Accounts receivable, net of credit loss of $192 and $227,
respectively |
31,536 |
|
25,324 |
Contract assets |
220 |
|
1,566 |
Inventory |
33,362 |
|
25,525 |
Prepaid expenses and other current assets |
6,295 |
|
5,589 |
Assets held for sale |
1,404 |
|
1,568 |
Total current assets |
141,114 |
|
90,110 |
Property, plant, and
equipment, net |
21,847 |
|
21,052 |
Goodwill |
69 |
|
69 |
Operating lease right-of-use
assets |
13,744 |
|
14,566 |
Other intangible assets,
net |
175 |
|
202 |
Other non-current assets |
243 |
|
242 |
Total assets |
$ |
177,192 |
|
$ |
126,241 |
LIABILITIES and SHAREHOLDERS’ EQUITY |
|
|
|
Current liabilities: |
|
|
|
Accounts payable |
$ |
19,184 |
|
$ |
16,484 |
Accrued expenses and other current liabilities |
9,961 |
|
11,577 |
Operating lease liabilities - current |
1,153 |
|
992 |
Total current liabilities |
30,298 |
|
29,053 |
PPP liability -
non-current |
— |
|
6,488 |
Operating lease liabilities -
non-current |
12,954 |
|
13,735 |
Asset retirement
obligations |
2,040 |
|
2,022 |
Other long-term
liabilities |
794 |
|
794 |
Total liabilities |
46,086 |
|
52,092 |
Commitments and
contingencies |
|
|
|
Shareholders’ equity: |
|
|
|
Common stock, no par value, 50,000 shares authorized; 43,787 shares
issued and 36,881 shares outstanding as of June 30, 2021;
36,461 shares issued and 29,551 shares outstanding as of
September 30, 2020 |
780,776 |
|
744,361 |
Treasury stock at cost; 6,906 shares as of June 30, 2021 and
6,910 shares as of September 30, 2020 |
(47,721) |
|
(47,721) |
Accumulated other comprehensive income |
892 |
|
918 |
Accumulated deficit |
(602,841) |
|
(623,409) |
Total shareholders’ equity |
131,106 |
|
74,149 |
Total liabilities and shareholders’ equity |
$ |
177,192 |
|
$ |
126,241 |
|
|
|
|
|
|
EMCORE CORPORATION
Reconciliations of GAAP to Non-GAAP
Financial Measures
|
Three Months Ended |
|
Jun 30, 2021 |
|
Mar 31, 2021 |
|
3Q21 |
|
2Q21 |
Gross Profit |
$ |
17,225 |
|
|
$ |
14,634 |
|
Gross
Margin |
40% |
|
|
38% |
|
|
|
|
|
Adjustments: |
|
|
|
Stock-based compensation |
220 |
|
|
203 |
|
Asset retirement obligation
(ARO) accretion |
11 |
|
|
8 |
|
Amortization of acquired
intangibles |
9 |
|
|
9 |
|
Total adjustments |
240 |
|
|
220 |
|
|
|
|
|
Non-GAAP Gross
Profit |
$ |
17,465 |
|
|
$ |
14,854 |
|
Non-GAAP Gross
Margin |
41% |
|
|
39% |
|
|
|
|
|
|
|
|
Three Months Ended |
|
Jun 30, 2021 |
|
Mar 31, 2021 |
|
3Q21 |
|
2Q21 |
Operating Expenses |
$ |
10,831 |
|
|
$ |
10,051 |
|
Stock-based compensation |
(956) |
|
|
(719) |
|
Severance and restructuring
charges |
— |
|
|
(14) |
|
CATV transition - (loss) gain on
sale of assets |
(250) |
|
|
164 |
|
Loss on sale of assets |
— |
|
|
(382) |
|
Litigation-related expenses |
(70) |
|
|
(169) |
|
Non-GAAP Operating
Expenses |
$ |
9,555 |
|
|
$ |
8,931 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Jun 30, 2021 |
|
Mar 31, 2021 |
|
3Q21 |
|
2Q21 |
Operating Profit |
$ |
6,394 |
|
|
$ |
4,583 |
|
Operating
Margin |
15% |
|
|
12% |
|
|
|
|
|
Adjustments: |
|
|
|
Stock-based compensation |
1,176 |
|
|
922 |
|
Asset retirement obligation
(ARO) accretion |
11 |
|
|
8 |
|
Amortization of acquired
intangibles |
9 |
|
|
9 |
|
Severance and restructuring
charges |
— |
|
|
14 |
|
CATV transition - loss (gain)
on sale of assets |
250 |
|
|
(164) |
|
Loss on sale of assets |
— |
|
|
382 |
|
Litigation-related
expenses |
70 |
|
|
169 |
|
Total adjustments |
1,516 |
|
|
1,340 |
|
|
|
|
|
Non-GAAP Operating
Profit |
7,910 |
|
|
5,923 |
|
Non-GAAP Operating
Margin |
19% |
|
|
15% |
|
|
|
|
|
Depreciation |
1,016 |
|
|
976 |
|
Adjusted
EBITDA |
$ |
8,926 |
|
|
$ |
6,899 |
|
Adjusted EBITDA
% |
21% |
|
|
18% |
|
|
|
|
|
|
|
|
Three Months Ended |
|
Jun 30, 2021 |
|
Mar 31, 2021 |
|
3Q21 |
|
2Q21 |
Net Income |
$ |
13,615 |
|
|
$ |
4,384 |
|
Earnings Per Share
Basic |
0.37 |
|
|
0.13 |
|
Earnings Per Share
Diluted |
0.35 |
|
|
0.13 |
|
|
|
|
|
Non-recurring gains,
tax effected: |
|
|
|
Gain on extinguishment of
debt |
(6,417) |
|
|
— |
|
Release of uncertain tax
reserve and related interest |
(1,007) |
|
|
— |
|
Total non-recurring gains, tax effected |
(7,424) |
|
|
— |
|
|
|
|
|
Net Income, excluding
non-recurring gains tax effected |
$ |
6,191 |
|
|
$ |
4,384 |
|
Earnings Per Share
Basic, excluding non-recurring gains tax effected |
0.17 |
|
|
0.13 |
|
Earnings Per Share
Diluted, excluding non-recurring gains tax effected |
0.16 |
|
|
0.13 |
|
|
|
|
|
Adjustments: |
|
|
|
Stock-based compensation |
1,176 |
|
|
922 |
|
Asset retirement obligation
(ARO) accretion |
11 |
|
|
8 |
|
Amortization of acquired
intangibles |
9 |
|
|
9 |
|
Severance and restructuring
charges |
— |
|
|
14 |
|
CATV transition - gain on sale
of assets |
250 |
|
|
(164) |
|
Loss on sale of assets |
— |
|
|
382 |
|
Litigation-related
expenses |
70 |
|
|
169 |
|
Foreign exchange (gain)
loss |
(87) |
|
|
68 |
|
Income tax expense |
265 |
|
|
82 |
|
Total adjustments |
1,694 |
|
|
1,490 |
|
|
|
|
|
Non-GAAP Net
Income |
7,885 |
|
|
5,874 |
|
Non-GAAP Earnings Per
Share Basic |
0.21 |
|
|
0.18 |
|
Non-GAAP Earnings Per
Share Diluted |
0.20 |
|
|
0.17 |
|
|
|
|
|
Interest expense, net |
25 |
|
|
49 |
|
Depreciation |
1,016 |
|
|
976 |
|
Adjusted
EBITDA |
$ |
8,926 |
|
|
$ |
6,899 |
|
Adjusted EBITDA
% |
21 % |
|
|
18 % |
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Three Months Ended |
|
Jun 30, 2021 |
|
Mar 31, 2021 |
|
|
Jun 30, 2021 |
|
Mar 31, 2021 |
|
3Q21 |
|
2Q21 |
|
|
3Q21 |
|
2Q21 |
Aerospace and
Defense |
|
|
|
|
Broadband |
|
|
|
Gross Profit |
$ |
3,872 |
|
|
$ |
3,775 |
|
|
Gross Profit |
$ |
13,353 |
|
|
$ |
10,859 |
|
Gross
Margin |
31 % |
|
|
29 % |
|
|
Gross
Margin |
44 % |
|
|
43 % |
|
|
|
|
|
|
|
|
|
|
Adjustments: |
|
|
|
|
Adjustments: |
|
|
|
Stock-based compensation |
129 |
|
|
120 |
|
|
Stock-based compensation |
91 |
|
|
83 |
|
Asset retirement obligation (ARO)
accretion |
— |
|
|
— |
|
|
Asset retirement obligation (ARO)
accretion |
11 |
|
|
8 |
|
Amortization of acquired
intangibles |
9 |
|
|
9 |
|
|
Amortization of acquired
intangibles |
— |
|
|
— |
|
Total adjustments |
138 |
|
|
129 |
|
|
Total adjustments |
102 |
|
|
91 |
|
|
|
|
|
|
|
|
|
|
Non-GAAP Gross
Profit |
$ |
4,010 |
|
|
$ |
3,904 |
|
|
Non-GAAP Gross
Profit |
$ |
13,455 |
|
|
$ |
10,950 |
|
Non-GAAP Gross
Margin |
33 % |
|
|
30 % |
|
|
Non-GAAP Gross
Margin |
44 % |
|
|
43 % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aerospace and
Defense |
|
|
|
|
Broadband |
|
|
|
R&D
Expenses |
$ |
3,598 |
|
|
$ |
3,157 |
|
|
R&D
Expenses |
$ |
902 |
|
|
$ |
614 |
|
Stock-based compensation |
(139) |
|
|
(136) |
|
|
Stock-based compensation |
(65) |
|
|
(73) |
|
Non-GAAP R&D
Expenses |
$ |
3,459 |
|
|
$ |
3,021 |
|
|
Non-GAAP R&D
Expenses |
$ |
837 |
|
|
$ |
541 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contact:EMCORE CorporationTom Minichiello(626)
293-3400investor@emcore.com
EMCORE (NASDAQ:EMKR)
過去 株価チャート
から 6 2024 まで 7 2024
EMCORE (NASDAQ:EMKR)
過去 株価チャート
から 7 2023 まで 7 2024