Positive results for Emcore
Emcore Corporation, a provider of InP optical chips, components, and systems has announced financial results for its fourth quarter and fiscal year ended September 30, 2015.
For Q4, revenue was $23.0 million, representing a 8.6 percent increase from Q3. Gross margin was 41.1 percent, an improvement from the 36.3 percent compared to Q3. Non-GAAP income from continuing operations was $2.7 million, an improvement of approximately $0.7 million over Q3. Net income was $1.5 million, a $1.0 million decrease on Q3. Net income per share was $0.06 compared to $0.08.
For the year, revenue was $81.7 million, representing a 47.1 percent increase from the prior year. Gross margin was 35.1 percent, an improvement from the 21.8 percent in 2014. Non-GAAP income from continuing operations was $4.2 million, an improvement of approximately $18.0 million on 2014.
Net income, including income from discontinued operations of $65.4 million, was $63.1 million, a $58.2 million increase when compared 2014. Net income per share was $2.10 compared to net income per share of $0.16 in the prior year.
Cash and cash equivalents was $111.9 million at the end of the year, an increase of $91.2 million over 2014.
The board expects revenue for the first quarter ended December 31, 2015 to be in the range of $22 to $24 million.