Skip to main content

CORRECTION: EMCORE Reports Fiscal 2020 Third Quarter Results

ALHAMBRA, Calif., Aug. 05, 2020 (GLOBE NEWSWIRE) — In a release issued under the same headline earlier today by EMCORE Corporation (Nasdaq: EMKR), the Operating Profit table for the three months ended June 30, 2020 in the Reconciliations of GAAP to Non-GAAP Financial Measures tables should have referred to: (i) Total adjustments of $512,000 rather than $200,000; (ii) Non-GAAP Operating Profit of $(701,000) rather than $(1.013) million; (iii) Non-GAAP Operating Margin of -3% rather than -4%; (iv) Adjusted EBITDA of $328,000 rather than $16,000; and (v) Adjusted EBITDA % of 1% rather than 0%. The corrected release follows:EMCORE Reports Fiscal 2020 Third Quarter ResultsEMCORE 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 2020 third quarter ended June 30, 2020 (3Q20). Management will host a conference call to discuss financial and business results tomorrow, Thursday, August 6, 2020, at 8:00 AM Eastern Time.
Consolidated revenue for 3Q20 was $27.3 million, comprised of $14.0 million from the Aerospace & Defense segment and $13.3 million from the Broadband segment. Net loss on a GAAP and non-GAAP basis was $1.3 million and $0.7 million, respectively, in 3Q20 compared with a net loss on a GAAP and non-GAAP basis of $5.1 million and $3.8 million, respectively, in 2Q20. Adjusted EBITDA was positive $0.3 million in 3Q20.“We saw strong demand in both our Aerospace & Defense and Broadband businesses, driving a 14% sequential-quarter revenue increase. Top-line growth and ongoing operational improvements resulted in a seven point improvement in gross margin, led by our QMEMS team,” said Jeff Rittichier, Chief Executive Officer of EMCORE. “Looking ahead into our September quarter, the demand picture from our CATV and Aerospace & Defense customers remains strong, which should allow us to stay on the path of improved operational results despite the global impact of the pandemic,” concluded Rittichier.Consolidated Results

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.