Emcore reports mixed Q2 results
Emcore, a provider of InP optical chips and systems, has announced financial results for its second quarter ended March 31, 2016.
Consolidated revenue was $21.5 million, representing a 4.3 percent decrease from the immediate preceding quarter, but an increase on the same quarter in 2015. Consolidated gross margin was 32.6 percent, a marginal decrease from the 32.9 percent gross margin reported in the immediate preceding quarter.
Non-GAAP income from continuing operations was $0.6 million, a decrease of approximately $0.7 million over the immediate preceding quarter, and consolidated net income of $4.0 million, includes $3.8 million of income from discontinued operations related to the SEI arbitration ruling, is a $3.0 million increase compared to the immediate preceding quarter
Consolidated net income per share was $0.15 compared to net income per share of $0.04 in the immediate preceding quarter
Cash and cash equivalents was $110.0 million at the end of the quarter
The company expects revenue for the third quarter ended June 30, 2016 to be in the range of $22 to $24 million.