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Alpha and Emcore report financial results

Alpha s sales fall a further 15%

Alpha Industries reported that its sales for the quarter ended March 31, 2002 were $28.2 million, down 15% compared with $33.1 million in the December 2001 quarter and down 48% compared with $54.0 million in the year-ago period.

The net loss for the quarter was $8.5 million.This included expenses related to the proposed merger with the wireless business of Conexant and acquisition of Aimta, a manufacturer of low temperature co-fired ceramic packaging technology.

"Our fourth quarter results reflected a decline in wireless infrastructure spending by global telecom carriers, and short-term delays in two power amplifier orders," said David Aldrich, Alpha s president and CEO. "We expect these orders to begin ramping in the current quarter."

For the 12 months ended on March 31, 2002, net sales were $126.5 million compared with net sales of $271.6 million for fiscal year 2001. Including one-time costs and transaction expenses, the net loss for the year was $18.3 million, which compares to a net income of $33.4 million for the previous year

Emcore s revenue increases, losses widen

Emcore reported revenue for the second quarter ended 31 March 2002 of $23.1 million, up 21% sequentially. Materials-related sales continue to show strong signs of improvement with $18.7 million in sales, a sequential increase of $9.9 million. Within the materials group, photovoltaic products experienced the strongest demand with a revenue of $11.4 million, an increase of $9.5 million on the previous quarter. The acquisition of Tecstar s Applied Solar Division added approximately $500,000 to the quarterly revenue.

Despite the increase in sales, Emcore recorded a net loss of $68.7 million. This includes a restructuring charge totaling $50.4 million, around $9.1 million relating to the equipment segment and the remaining $41.3 million affecting the materials segments of the product lines. Net loss prior to the restructuring charges was $18.3 million.
E-mail: tim.whitaker@iop.org

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