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5 November 2015

Emcore expects 8.5% quarterly revenue growth to $23m

In preliminary financial results for its fiscal fourth-quarter 2015 (to end-September), Emcore Corp of Alhambra, CA, USA (which provides compound semiconductor-based chip-level devices, optical components, subsystems and systems for broadband and specialty fiber-optics markets) says that it now expects revenue of about $23m (consistent with August's guidance of $22-24m), up 8.5% on $21.2m last quarter.

"We saw strong demand for our chip-level products, with shipments of our chips exceeding $4m, up from approximately $2m in the prior quarter," notes president & CEO Jeffrey Rittichier. "In fiscal year 2015, we shipped more than $8m of chips, up from zero in 2014." 

Gross margin is expected to be up from 36.3% last quarter to about 40%, due mainly to a favorable product mix and increased volume. However, this will be partially offset by higher operating expenses, due largely to increased legal and headcount costs.

"While we are pleased with our preliminary fourth quarter financial results and are encouraged about the long-term industry outlook, we remain cognizant of the dynamics in the CATV market and consolidation in the industry at both the OEM and MSO levels," Rittichier says. Emcore hence expects revenue for fiscal first-quarter 2016 to be roughly level at $22-24m.    

Emcore aims to announce its full results for fiscal fourth-quarter and year-end 2015 in December. 

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