+44 (0)24 7671 8970
More publications     •     Advertise with us     •     Contact us
 
News Article

Emcore's revenue driven by fiber, broadband

Emcore has reported revenue of $23.1 million, based on strong demand for its fiber and broadband products.
Emcore has reported revenue of $23.1 million for the last calendar quarter of 2003, representing sequential growth of 35% over the previous quarter and a massive 146% rise compared with the $9.4 million reported in the final quarter of 2002.

The company attributes the growth to strong demand for its fiber and broadband products. Further revenue growth to $24-26 million is expected in the current quarter.

“We are seeing continued signs of improvement in the fiber and broadband communications market and feel our performance during the quarter is an indication markets are rebounding,” said Reuben Richards, president & CEO. “We are seeing strong revenue growth in many of our product lines, especially broadband and digital fiber, as a result of significant new product introductions with broad customer acceptance.”

The company’s net income for the quarter was $8.1 million, including the sale of the company s MOCVD equipment business to Veeco. This compares to a net loss of $13.9 million in the previous quarter.

Emcore’s operating loss was $8.2 million for the quarter, improving 27% from an operating loss of $11.2 million in the previous quarter. The net loss from continuing operations for the quarter improved to $9.8 million, compared with a loss of $13.0 million during the previous quarter.

On November 3, 2003, Emcore announced the sale of its MOCVD TurboDisc business to Veeco Instruments, allowing Emcore to focus on its communications product lines, including its fiber-optic, wireless, CATV, and satellite products and the high brightness LED joint venture with GE Lighting.

The total value of the transaction was $80 million with an initial $60 million in cash at closing and additional compensation of up to $20 million over two years. Emcore will receive 50% of all revenues of the MOCVD business over $40 million in each of the next two years, with a maximum payment of $20 million. Annual revenues for TurboDisc reached a high of $131.1 million for the twelve months ended September 30, 2001 and were $52.7 million during the twelve-month period ending September 30, 2003.

In October 2003, Emcore acquired Molex s 10 Gigabit (10G) Ethernet transceiver business, providing Emcore with the most complete 10G Ethernet transceiver product portfolio in the industry. Experts have predicted that the market for 10G transceivers operating at 1310 nm will grow at a rate of 66% per year, to over $380 million by 2007.

×
Search the news archive

To close this popup you can press escape or click the close icon.
×
  • 1st January 1970
  • 1st January 1970
  • 1st January 1970
  • 1st January 1970
  • View all news 22645 more articles
Logo
×
Register - Step 1

You may choose to subscribe to the Compound Semiconductor Magazine, the Compound Semiconductor Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in: