Content Detail

• Content META

  Title	EMCORE Reports Fiscal 2025 First Quarter Results
  ID	6890796
  External ID	7549244638
  Author	Unknown
  Published Date	Feb. 13, 2025, 4:09 p.m.
  Summary	BUDD LAKE, NJ / ACCESS Newswire / February 13, 2025 / EMCORE Corporation (Nasdaq:EMKR), a leading provider of inertial navigation solutions to the aerospace and defense industry, today announced resul
  Tags	press-release
  URL	https://www.wallstreet-online.de/nachricht/19003565-emcore-reports-fiscal-2025-first-quarter-results/all
  Sentiment	Negative: 0.21906    Neutral: 0.24226    Positive: 0.53868
  Relevance	0.03977

• Content Details

  Content ID	4291622
  Key	6b980546-14e8-4b23-8547-4e4078a112f5
  Content	BUDD LAKE, NJ / ACCESS Newswire / February 13, 2025 / EMCORE Corporation (Nasdaq:EMKR), a leading provider of inertial navigation solutions to the aerospace and defense industry, today announced results for the fiscal 2025 first quarter (1Q25) ended … BUDD LAKE, NJ / ACCESS Newswire / February 13, 2025 / EMCORE Corporation (Nasdaq:EMKR), a leading provider of inertial navigation solutions to the aerospace and defense industry, today announced results for the fiscal 2025 first quarter (1Q25) ended December 31, 2024. "Gross profit margins increased significantly in fiscal 1Q25, primarily driven by the completion of all restructuring-related cost reduction activities during the prior quarter, as well as a favorable revenue mix. Backlog remains strong and we are also happy to report that, despite the GAAP earnings loss, we achieved positive non-GAAP earnings and positive Adjusted EBITDA," said Matt Vargas, interim Chief Executive Officer. Three Months Ended Dec 31, 2024 1Q25 Sep 30, 2024 4Q24 +increase/ -decrease Revenue 19.3M 21.7M -2.4M Gross margin Operating expenses 9.7M 7.8M +1.9M Net loss on continuing operations (5.5M (3.2M -2.3M Net loss on continuing operations per share, basic and diluted Non-GAAP gross margin (a) Non-GAAP operating expenses (a) 6.4M 6.1M +0.3M Non-GAAP net income (loss) on continuing operations (a) 0.5M (2.0M +2.5M Non-GAAP net income (loss) on continuing operations per share, basic and diluted (a) Adjusted EBITDA (a) 1.1M (0.4M +1.5M Cash, cash equivalents and restricted cash at end of period 9.0M 10.8M -1.8M (a) 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. About EMCORE EMCORE Corporation is a leading provider of inertial navigation solutions to the aerospace and defense markets. We leverage industry-leading Photonic Integrated Chip (PIC) and Quartz MEMS 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 facilities in Budd Lake, NJ, Concord, CA, and Tinley Park, IL. Our manufacturing facilities all maintain ISO 9001 quality management certification, and we are AS9100 aerospace quality certified at our facilities in Budd Lake and Concord. For further information about EMCORE, please visit https://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, including for gross profit, gross margin, operating expenses, net loss, net loss per share, and adjusted EBITDA. The Company has, regardless of result, applied consistent rationale and methods when presenting supplemental non-GAAP measures. Management believes these supplemental non-GAAP measures reflect the Company's core ongoing operating performance and facilitate 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: (a) they are unusual and the Company does not expect them to recur in the ordinary course of its business, (b) they do not involve the expenditure of cash, (c) they are unrelated to the ongoing operation of the business in the ordinary course, or (d) their magnitude and timing is largely outside of the Company's control. All of these items meet one or more of the characteristics listed above. The criteria that must be met for litigation-related expense to qualify as a non-GAAP measure is that it must be directly connected to active litigation that the Company infrequently encounters and is unrelated to the ongoing operations of the business in the ordinary course. Due to the November 7, 2024 Merger Agreement, the Company incurred higher-than-normal transaction-related costs in Q125 that are included in the reconciliation as they are unrelated to the ongoing operation of the business in the ordinary course. All legal expenses related to the ordinary course of business are included in the non-GAAP results consistently for all reporting periods. The Company has, for all reporting periods disclosed in this press release, applied consistent rationale, method, and adjustments in reconciling non-GAAP measures to the most directly comparable GAAP measure, reflecting the Company's core ongoing operating performance and facilitating comparisons across reporting periods that the Company uses when evaluating its financial results, planning and forecasting future periods, and that are useful to investors in assessing our performance. 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. EMCORE CORPORATION Condensed Consolidated Balance Sheets (unaudited) December 31, September 30, (in thousands) ASSETS Current assets: Cash and cash equivalents Restricted cash Accounts receivable, net of allowances for credit loss of and , respectively Contract assets Inventory Prepaid expenses Other current assets Total current assets Property, plant, and equipment, net Operating lease right-of-use assets Intangible assets, net Other non-current assets Total assets LIABILITIES and SHAREHOLDERS' EQUITY Current liabilities: Accounts payable Accrued expenses and other current liabilities Contract liabilities Financing payable Operating lease liabilities - current Total current liabilities Operating lease liabilities - non-current Asset retirement obligations Warrant liability Total liabilities Commitments and contingencies Shareholders' equity: Common stock, no par value, 100,000 shares authorized; 9,771 shares issued and 9,081 shares outstanding as of December 31, 2024 ; 9,764 shares issued and 9,703 shares outstanding as of September 30, 2024 Treasury stock at cost; 691 shares as of December 31, 2024 and September 30, 2024 Accumulated other comprehensive income Accumulated deficit Total shareholders' equity Total liabilities and shareholders' equity EMCORE CORPORATION Condensed Consolidated Statements of Operations (unaudited) Three Months Ended December 31, (in thousands, except for per share data) Revenue Cost of revenue Gross profit Operating expense: Selling, general, and administrative Research and development Restructuring Severance Gain on sale of assets Total operating expense Operating loss Other expense: Loss on extinguishment of debt and change in fair value of warrant liability Interest expense, net Other income (expense) Total other expense Loss from continuing operations before income tax expense Income tax expense from continuing operations Net loss from continuing operations Loss from discontinued operations Net loss Per share data: Net loss on continuing operations per share, basic and diluted Net loss on discontinued operations per share, basic and diluted Net loss per share, basic and diluted Weighted-average number of shares outstanding, basic and diluted EMCORE CORPORATION Reconciliations of GAAP to Non-GAAP Financial Measures (unaudited) Three Months Ended December 31, 2024 September 30, 2024 (in thousands, except for percentages) 1Q25 4Q24 Gross profit Gross margin Stock-based compensation expense Asset retirement obligation accretion Intangible asset amortization Non-GAAP gross profit Non-GAAP gross margin Three Months Ended December 31, 2024 September 30, (in thousands) 1Q25 4Q24 Operating expense Stock-based compensation expense Impairment expense Severance expense Restructuring expense Loss on sale of assets Transition/M&A-related expense Litigation-related expense Non-GAAP operating expense Three Months Ended December 31, September 30, (in thousands, except for per share data and percentages) 1Q25 4Q24 Net loss from continuing operations Net loss from continuing operations per share, basic and diluted Stock-based compensation expense Asset retirement obligation accretion Intangible asset amortization Impairment expense Severance expense Restructuring expense Loss on sale of assets Transition/M&A-related expense Litigation-related expense Loss on extinguishment of debt and change in fair value of warrant liability Other income Income tax expense (benefit) Non-GAAP net income (loss) from continuing operations Non-GAAP net income (loss) from continuing operations per share, basic and diluted Interest expense, net Depreciation expense Adjusted EBITDA Adjusted EBITDA % of revenue Contact: EMCORE Corporation Tom Minichiello Chief Financial Officer investor@emcore.com SOURCE: EMCORE Corporation View the original press release on ACCESS Newswire The EMCORE Stock at the time of publication of the news with a raise of to 3,09 USD on Nasdaq stock exchange (13. Februar 2025, 22:30 Uhr). EMCORE Wie entwickelt sich der Kurs? Kurs wird fallen Kurs wird steigen Intraday 5T 1M 3M 1J 3J 5J 10J Max 1 im Artikel enthaltener Wert Im Artikel enthaltene Werte
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• Publisher

  Publisher Name	Wallstreet-Online.de (#2657)
  Publisher URL	https://www.wallstreet-online.de
  Description	None
  Trust Flow Score	63
  Citation Flow Score	46

• Data Source

  Data Source Name	Quantexa News (#5)
  Data Source Type	news
  Data Source URL	https://app.aylien.com/dashboard
  Description	Welcome to Quantexa News API — the most powerful way to aggregate, filter, and integrate global news data into your apps and models.
  Weight	10