Emcore cuts June-quarter revenue guidance from $20-22m to $17-17.5m

In preliminary financial results for its fiscal third-quarter 2019 (ended 30 June), Emcore Corp of Alhambra, CA, USA – which provides indium phosphide (InP)-based optical chips, components, subsystems and systems for the broadband and specialty fiber-optics markets – says that it now expects revenue of $17-17.5m, cut from its prior guidance of $20-22m. This would be down on $21.7m last quarter (rather than being roughly level) and down slightly on $17.7m the prior year.

“Our chip product sales, and GPON in particular, experienced a significant decline in the third quarter, largely due to additional negative effects of the trade dispute with China,” notes president & CEO Jeffrey Rittichier. “Within the cable TV market, overall MSO capital spend remained soft compared to expectations earlier in the quarter,” he adds.

“Demand for our Satcom and inertial navigation products, including the recently acquired Systron Donner operations, remained robust, with demand outpacing supply,” Rittichier continues. “Sales of these Aerospace and Defense products continue to meet our growth expectations, while also reducing volatility in demand and improving corporate profitability.”

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Emcore’s quarterly revenue grows 16.7% year-on-year to $21.7m

Tags: Emcore InP

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