Emcore Q3 revenue up nearly 4 percent
Emcore, a US provider of InP optical chips and systems, has announced financial results for its third quarter ended June 30, 2016.
Consolidated revenue was $22.4 million, representing a 3.9 percent increase from the immediately preceding quarter. Consolidated gross margin was 33.1 percent, an increase from the 32.6 percent gross margin reported in the immediately preceding quarter
GAAP income from continuing operations was $1.2 million, an increase of approximately $1.3 million over the immediately preceding quarter. Consolidated net income of $1.3 million, which includes $2.6 million related to the recovery of fees and expense associated with the SEI arbitration ruling, is a $2.7 million decrease compared to the immediately preceding quarter which included $3.8 million of gains related to the SEI ruling
Consolidated net income per share was $0.05 compared to net income per share of $0.15 in the immediately preceding quarter. Non-GAAP pre-tax income from continuing operations was $0.6 million, consistent with the immediately preceding quarter. Cash and cash equivalents was $105.0 million at the end of the quarter.
On July 29, the company paid a special dividend of $1.50 per share, or a total of $39.2 million, to shareholders of record as of July 18.
The company expects revenue for the fourth quarter ended September 30, 2016 to be in the range of $23 to $25 million.
