EMCORE Corporation (Nasdaq: EMKR), a leading provider of advanced
mixed-signal products that serve the aerospace and defense,
communications, and sensing markets, today announced results for
the fiscal 2022 first quarter ended December 31, 2021 (1Q22).
Management will host a conference call to discuss financial and
business results today at 5:00 p.m. Eastern Time (ET).
For 1Q22, consolidated revenue was $42.2 million, comprised of
$9.9 million from the Aerospace and Defense (A&D) segment and
$32.3 million from the Broadband segment. Net income was $2.4
million and $5.3 million on a GAAP and non-GAAP basis,
respectively. Adjusted EBITDA was $6.3 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.
Consolidated Results
|
Three Months Ended |
|
|
Dec 31, 2021 |
Sep 30, 2021 |
+increase/ |
|
1Q22 |
4Q21 |
-decrease |
Revenue |
$42.2M |
$44.0M |
-$1.8M |
Gross
margin |
37% |
39% |
-2% |
Operating
expenses (1) |
$13.3M |
$11.6M |
+$1.7M |
Operating
margin (1) |
6% |
13% |
-7% |
Net
income (1) |
$2.4M |
$5.1M |
-$2.7M |
Earnings per share diluted (1) |
$0.06 |
$0.13 |
-$0.07 |
Non-GAAP
gross margin (2) |
38% |
39% |
-1% |
Non-GAAP
operating expenses (2) |
$10.6M |
$10.5M |
+0.1M |
Non-GAAP
operating margin (2) |
13% |
16% |
-3% |
Non-GAAP
net income (2) |
$5.3M |
$6.8M |
-$1.5M |
Non-GAAP earnings per share diluted (2) |
$0.14 |
$0.17 |
-$0.03 |
Adjusted
EBITDA |
$6.3M |
$7.8M |
-$1.5M |
Ending cash and cash equivalents |
$76.0M |
$71.7M |
+$4.3M |
(1) 1Q22 includes a $1.3 million charge for severance costs
associated with the planned shutdown of manufacturing operations in
Beijing, China. |
(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. |
|
“We delivered another quarter of strong financial performance,
including a non-GAAP operating margin of 13% and an increase in
cash of $4.3 million. Our 1Q22 results were driven largely by the
continued demand from our Broadband customers and solid execution
by the EMCORE team, while our Aerospace & Defense business
reflected the ongoing challenges associated with the global
pandemic and supply chain disruption,” said Jeff Rittichier,
President and Chief Executive Officer of EMCORE. “In A&D,
EMCORE was awarded the final pre-production contract for an
airborne pod IMU and expects to see that program go to production
next year. We continue to experience a high level of demand for our
Navigation offerings and are highly focused on meeting our growth
objectives in Aerospace and Defense.”
Aerospace and Defense Segment
|
Three Months Ended |
|
|
Dec 31, 2021 |
Sep 30, 2021 |
+increase/ |
|
1Q22 |
4Q21 |
-decrease |
A&D
segment revenue |
$9.9M |
$11.7M |
-$1.8M |
A&D
segment gross margin |
17% |
17% |
—% |
A&D
segment R&D expense (1) |
$4.2M |
$4.2M |
$—M |
A&D segment profit (1) |
($2.5M) |
($2.2M) |
-$0.3M |
Non-GAAP
A&D segment gross margin (2) |
18% |
18% |
—% |
Non-GAAP
A&D segment R&D expense (2) |
$4.0M |
$4.0M |
$—M |
Non-GAAP A&D segment profit |
($2.3M) |
($2.0M) |
-$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. |
|
A&D’s sequential-quarter revenue decrease was due to lower
sales of Quartz MEMS and Defense Optoelectronics products, partly
offset by higher Fiber Optic Gyroscope (FOG) revenue. A&D
segment gross margin and R&D expenses were both flat when
compared to 4Q21.
Broadband Segment
|
Three Months Ended |
|
|
Dec 31, 2021 |
Sep 30, 2021 |
+increase/ |
|
1Q22 |
4Q21 |
-decrease |
Broadband
segment revenue |
$32.3M |
$32.2M |
+$0.1M |
Broadband
segment gross margin |
44% |
47% |
-3% |
Broadband
segment R&D expense (1) |
$0.5M |
$0.7M |
-$0.2M |
Broadband segment profit (1) |
$13.6M |
$14.4M |
-$0.8M |
Non-GAAP
Broadband segment gross margin (2) |
44% |
47% |
-3% |
Non-GAAP
Broadband segment R&D expense (2) |
$0.4M |
$0.6M |
-$0.2M |
Non-GAAP Broadband segment profit |
$13.8M |
$14.6M |
-$0.8M |
(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’s sequential-quarter revenue increased slightly,
driven primarily by higher sales of chip level sensing products.
The Broadband segment gross margin change in 1Q22 when compared to
4Q21 was due to slight changes in material costs, mix, and overhead
cost absorption. R&D expenses on a sequential-quarter basis
were down due to lower material usage related to Chip Devices
development projects.
Business Outlook
The Company expects revenue for the fiscal 2022 second quarter
ending March 31, 2022 to be in the range of $32 million to $34
million.
Conference Call
The Company will discuss its financial results on February 9,
2022 at 5:00 p.m. ET (2:00 p.m. PT). The call will be available,
live, to interested parties by dialing 888-220-8474. For
international callers, please dial +1 313-209-6544. The conference
passcode number is 2623785. The call will be webcast live via the
Company's website at http://www.emcore.com. A webcast will be
available for replay following the conclusion of the call.
About EMCORE
EMCORE Corporation is a leading provider of advanced
mixed-signal products that serve the aerospace and defense,
communications, and sensing markets. Our best-in-class components
and systems support a broad array of applications including
navigation and inertial sensing, defense optoelectronics, broadband
communications, optical sensing, and specialty chips for telecom
and 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, research and development
expenses, operating profit, 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, including growth
expectations in the A&D segment, production expectations
regarding our contract for an airborne pod IMU, and statements
about our future results of operations and financial position,
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, 2021, 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(in thousands,
except for per share data)(unaudited)
|
For the Three Months EndedDecember
31, |
|
|
2021 |
|
|
|
2020 |
|
Revenue |
$ |
42,236 |
|
|
$ |
33,426 |
|
Cost of revenue |
|
26,439 |
|
|
|
20,854 |
|
Gross profit |
|
15,797 |
|
|
|
12,572 |
|
Operating expense: |
|
|
|
Selling, general, and administrative |
|
7,187 |
|
|
|
5,757 |
|
Research and development |
|
4,627 |
|
|
|
4,296 |
|
Restructuring charge |
|
1,298 |
|
|
|
41 |
|
Loss (gain) on sale of assets |
|
187 |
|
|
|
(29 |
) |
Total operating expense |
|
13,299 |
|
|
|
10,065 |
|
Operating income |
|
2,498 |
|
|
|
2,507 |
|
Other income: |
|
|
|
Interest expense, net |
|
(11 |
) |
|
|
(49 |
) |
Foreign exchange gain |
|
42 |
|
|
|
237 |
|
Total other income |
|
31 |
|
|
|
188 |
|
Income before income tax expense |
|
2,529 |
|
|
|
2,695 |
|
Income tax expense |
|
(115 |
) |
|
|
(126 |
) |
Net income |
$ |
2,414 |
|
|
$ |
2,569 |
|
Foreign exchange translation
adjustment |
|
20 |
|
|
|
(10 |
) |
Comprehensive income |
$ |
2,434 |
|
|
$ |
2,559 |
|
Per share
data |
|
|
|
Net income per basic
share |
$ |
0.07 |
|
|
$ |
0.09 |
|
Weighted-average number of
basic shares outstanding |
|
36,950 |
|
|
|
29,503 |
|
Net income per diluted
share |
$ |
0.06 |
|
|
$ |
0.08 |
|
Weighted-average number of
diluted shares outstanding |
|
39,031 |
|
|
|
30,377 |
|
|
|
|
|
|
|
|
|
EMCORE
CORPORATIONCondensed Consolidated Balance
Sheets(in
thousands)(unaudited)
|
As of |
|
December 31, 2021 |
|
September 30, 2021 |
ASSETS |
|
|
|
Current assets: |
|
|
|
Cash and cash equivalents |
$ |
74,896 |
|
|
$ |
71,621 |
|
Restricted cash |
|
1,062 |
|
|
|
61 |
|
Accounts receivable, net of credit loss of $425 and $260,
respectively |
|
32,382 |
|
|
|
31,849 |
|
Contract assets |
|
238 |
|
|
|
361 |
|
Inventory |
|
31,283 |
|
|
|
32,309 |
|
Prepaid expenses and other current assets |
|
7,046 |
|
|
|
6,877 |
|
Assets held for sale |
|
1,052 |
|
|
|
1,241 |
|
Total current assets |
|
147,959 |
|
|
|
144,319 |
|
Property, plant, and
equipment, net |
|
23,219 |
|
|
|
22,544 |
|
Goodwill |
|
69 |
|
|
|
69 |
|
Operating lease right-of-use
assets |
|
20,140 |
|
|
|
13,489 |
|
Other intangible assets,
net |
|
161 |
|
|
|
167 |
|
Other non-current assets |
|
213 |
|
|
|
225 |
|
Total assets |
$ |
191,761 |
|
|
$ |
180,813 |
|
LIABILITIES and SHAREHOLDERS’ EQUITY |
|
|
|
Current liabilities: |
|
|
|
Accounts payable |
$ |
17,033 |
|
|
$ |
16,686 |
|
Accrued expenses and other current liabilities |
|
10,344 |
|
|
|
9,936 |
|
Operating lease liabilities - current |
|
941 |
|
|
|
1,198 |
|
Total current liabilities |
|
28,318 |
|
|
|
27,820 |
|
Operating lease liabilities -
non-current |
|
19,628 |
|
|
|
12,684 |
|
Asset retirement
obligations |
|
2,058 |
|
|
|
2,049 |
|
Other long-term
liabilities |
|
794 |
|
|
|
794 |
|
Total liabilities |
|
50,798 |
|
|
|
43,347 |
|
Commitments and
contingencies |
|
|
|
Shareholders’ equity: |
|
|
|
Common stock, no par value, 50,000 shares authorized; 44,181 shares
issued and 37,275 shares outstanding as of December 31, 2021;
43,890 shares issued and 36,984 shares outstanding as of September
30, 2021 |
|
783,329 |
|
|
|
782,266 |
|
Treasury stock at cost; 6,906 shares as of December 31, 2021 and
September 30, 2021 |
|
(47,721 |
) |
|
|
(47,721 |
) |
Accumulated other comprehensive income |
|
707 |
|
|
|
687 |
|
Accumulated deficit |
|
(595,352 |
) |
|
|
(597,766 |
) |
Total shareholders’ equity |
|
140,963 |
|
|
|
137,466 |
|
Total liabilities and shareholders’ equity |
$ |
191,761 |
|
|
$ |
180,813 |
|
|
|
|
|
|
|
|
|
EMCORE
CORPORATIONReconciliations of GAAP to Non-GAAP
Financial Measures
|
Three Months Ended |
|
Dec 31, 2021 |
|
Sep 30, 2021 |
|
1Q22 |
|
4Q21 |
Gross profit |
$ |
15,797 |
|
|
$ |
17,057 |
|
Gross
margin |
|
37 |
% |
|
|
39 |
% |
|
|
|
|
Adjustments: |
|
|
|
Stock-based compensation
expense |
|
151 |
|
|
|
204 |
|
Asset retirement obligation
accretion |
|
9 |
|
|
|
9 |
|
Amortization of acquired
intangibles |
|
6 |
|
|
|
9 |
|
Total adjustments |
|
166 |
|
|
|
222 |
|
|
|
|
|
Non-GAAP gross
profit |
$ |
15,963 |
|
|
$ |
17,279 |
|
Non-GAAP gross
margin |
|
38 |
% |
|
|
39 |
% |
|
Three Months Ended |
|
Dec 31, 2021 |
|
Sep 30, 2021 |
|
1Q22 |
|
4Q21 |
Operating expense |
$ |
13,299 |
|
|
$ |
11,560 |
|
Stock-based compensation expense |
|
(937 |
) |
|
|
(966 |
) |
CATV
transition - severance and restructuring charge |
|
(1,298 |
) |
|
|
— |
|
CATV
transition - loss on sale of assets |
|
(187 |
) |
|
|
(76 |
) |
Litigation-related expense |
|
(234 |
) |
|
|
(58 |
) |
Non-GAAP operating expense |
$ |
10,643 |
|
|
$ |
10,460 |
|
|
Three Months Ended |
|
Dec 31, 2021 |
|
Sep 30, 2021 |
|
1Q22 |
|
4Q21 |
Operating profit |
$ |
2,498 |
|
|
$ |
5,497 |
|
Operating
margin |
|
6 |
% |
|
|
13 |
% |
|
|
|
|
Adjustments: |
|
|
|
Stock-based compensation |
|
1,088 |
|
|
|
1,170 |
|
Asset retirement obligation
accretion |
|
9 |
|
|
|
9 |
|
Amortization of acquired
intangibles |
|
6 |
|
|
|
9 |
|
CATV transition - severance
and restructuring charge |
|
1,298 |
|
|
|
— |
|
CATV transition - loss on sale
of assets |
|
187 |
|
|
|
76 |
|
Litigation-related
expenses |
|
234 |
|
|
|
58 |
|
Total adjustments |
|
2,822 |
|
|
|
1,322 |
|
|
|
|
|
Non-GAAP operating
profit |
|
5,320 |
|
|
|
6,819 |
|
Non-GAAP operating
margin |
|
13 |
% |
|
|
16 |
% |
|
|
|
|
Depreciation expense |
|
995 |
|
|
|
990 |
|
Adjusted
EBITDA |
$ |
6,315 |
|
|
$ |
7,809 |
|
Adjusted EBITDA
% |
|
15 |
% |
|
|
18 |
% |
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Dec 31, 2021 |
|
Sep 30, 2021 |
|
1Q22 |
|
4Q21 |
Net income |
$ |
2,414 |
|
|
$ |
5,075 |
|
Earnings per share
basic |
$ |
0.07 |
|
|
$ |
0.14 |
|
Earnings per share
diluted |
$ |
0.06 |
|
|
$ |
0.13 |
|
|
|
|
|
Adjustments: |
|
|
|
Stock-based compensation
expense |
|
1,088 |
|
|
|
1,170 |
|
Asset retirement obligation
accretion |
|
9 |
|
|
|
9 |
|
Amortization of acquired
intangibles |
|
6 |
|
|
|
9 |
|
CATV transition - severance
and restructuring charge |
|
1,298 |
|
|
|
— |
|
CATV transition - loss on sale
of assets |
|
187 |
|
|
|
76 |
|
Litigation-related
expense |
|
234 |
|
|
|
58 |
|
Foreign exchange (gain)
loss |
|
(42 |
) |
|
|
49 |
|
Income tax expense |
|
115 |
|
|
|
358 |
|
Total adjustments |
|
2,895 |
|
|
|
1,729 |
|
|
|
|
|
Non-GAAP net
income |
|
5,309 |
|
|
|
6,804 |
|
Non-GAAP earnings per
share basic |
|
0.14 |
|
|
|
0.18 |
|
Non-GAAP earnings per
share diluted |
|
0.14 |
|
|
|
0.17 |
|
|
|
|
|
Interest expense, net |
|
11 |
|
|
|
15 |
|
Depreciation expense |
|
995 |
|
|
|
990 |
|
Adjusted
EBITDA |
$ |
6,315 |
|
|
$ |
7,809 |
|
Adjusted EBITDA
% |
|
15 |
% |
|
|
18 |
% |
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Three Months Ended |
|
Dec 31, 2021 |
|
Sep 30, 2021 |
|
|
Dec 31, 2021 |
|
Sep 30, 2021 |
|
1Q22 |
|
4Q21 |
|
|
1Q22 |
|
4Q21 |
Aerospace and Defense |
|
|
|
|
Broadband |
|
|
|
Gross profit |
$ |
1,684 |
|
|
$ |
1,959 |
|
|
Gross profit |
$ |
14,113 |
|
|
$ |
15,098 |
|
Gross margin |
|
17 |
% |
|
|
17 |
% |
|
Gross margin |
|
44 |
% |
|
|
47 |
% |
|
|
|
|
|
|
|
|
|
Adjustments: |
|
|
|
|
Adjustments: |
|
|
|
Stock-based compensation expense |
|
86 |
|
|
|
118 |
|
|
Stock-based compensation expense |
|
65 |
|
|
|
86 |
|
Asset
retirement obligation accretion |
|
— |
|
|
|
— |
|
|
Asset
retirement obligation accretion |
|
9 |
|
|
|
9 |
|
Amortization of acquired intangibles |
|
6 |
|
|
|
9 |
|
|
Amortization of acquired intangibles |
|
— |
|
|
|
— |
|
Total adjustments |
|
92 |
|
|
|
127 |
|
|
Total adjustments |
|
74 |
|
|
|
95 |
|
|
|
|
|
|
|
|
|
|
Non-GAAP gross profit |
$ |
1,776 |
|
|
$ |
2,086 |
|
|
Non-GAAP gross profit |
$ |
14,187 |
|
|
$ |
15,193 |
|
Non-GAAP gross margin |
|
18 |
% |
|
|
18 |
% |
|
Non-GAAP gross margin |
|
44 |
% |
|
|
47 |
% |
|
|
|
|
|
|
|
|
|
R&D
expense |
$ |
4,162 |
|
|
$ |
4,175 |
|
|
R&D
expense |
$ |
465 |
|
|
$ |
706 |
|
Stock-based compensation expense |
|
(117 |
) |
|
|
(131 |
) |
|
Stock-based compensation expense |
|
(65 |
) |
|
|
(76 |
) |
Non-GAAP R&D expense |
$ |
4,045 |
|
|
$ |
4,044 |
|
|
Non-GAAP R&D expense |
$ |
400 |
|
|
$ |
630 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contact:EMCORE CorporationTom Minichiello(626)
293-3400investor@emcore.com
EMCORE (NASDAQ:EMKR)
過去 株価チャート
から 9 2024 まで 10 2024
EMCORE (NASDAQ:EMKR)
過去 株価チャート
から 10 2023 まで 10 2024