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Emcore Announces Delay in Filing of 10-K

Deloitte informed the firm that they have not completed the procedures to re-issue their opinion with respect to the Company's financial statements for the fiscal years of 2008 and 2009.

Emcore Corporation, a leading provider of compound semiconductor-based components and subsystems for the broadband, fiber optic, satellite, and terrestrial solar power markets, has announced that the Company would be delaying its filing of its Form 10-K filing. 

In March 2010, the Company announced that it had changed auditors from Deloitte & Touche LLP to KPMG LLP. On December 28, 2010, the Company was informed by the prior auditor, Deloitte & Touche LLP ("Deloitte"), the independent auditing firm that conducted the audit of the Company's financial statements for the fiscal years ended September 30, 2008 and 2009, that they have not completed their procedures to re-issue their opinion with respect to the Company's financial statements for those fiscal years. 

Deloitte is specifically reviewing its audit procedures performed on the Company's goodwill and intangible assets accounts. As a result, the Company is unable to file the 2010 Form 10-K at this time. The Company intends to file the 2010 Form 10-K as promptly as practicable once Deloitte is able to re-issue its opinion with respect to the prior fiscal years. 

Emcore is a leading provider of compound semiconductor-based components and subsystems for the fiber optics and solar power markets. Emcore's Fiber Optics segment offers optical components, subsystems and systems that enable the transmission of video, voice and data over high-capacity fiber optic cables for high-speed data and telecommunications, cable television (CATV) and fiber-to-the-premises (FTTP) networks. 

Emcore's Solar Power segment provides solar products for satellite and terrestrial applications. For satellite applications, the firm offers high-efficiency compound semiconductor-based gallium arsenide (GaAs) solar cells, covered interconnect cells and fully integrated solar panels. For terrestrial applications, Emcore offers concentrating photovoltaic (CPV) systems for utility scale solar applications as well as offering its high-efficiency GaAs solar cells and CPV components for use in solar power concentrator systems.
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