EMCORE Corp. (EMKR) is an advanced mixed-signal products provider for aerospace, defense, and fiber optic communications. The company’s systems support a broad array of applications including defense optoelectronics, optical sensing, and many other. The company leverages Quartz MEMS and Indium Phosphide technology to deliver products across its end-market applications. The company has vertically-integrated production capacity.
The price of EMKR stock during the regular trading on February 9, 2022, was $5.89 with a 1.20% increase. At last check in the premarket on February 10, 2022, the stock dipped by 18.3%.
EMKR: Key Financials
On February 09, 2022, EMKR released its financial results for the 2022 first quarter ended December 31, 2021. Some of the major highlights are as follows.
Revenue
Revenue recorded in Q1 2022 was $42.2 million corresponding to $33.4 million in the same quarter of 2021. The company beat the analysts’ estimated revenue target by $77.7 thousand. The company reported an increase of $8.8 million in revenue over the yearly period.
EPS
Diluted net income per share in Q1 2022 was $2.41 million or $0.06 against $2.56 million or $0.08 in the same period of 2021. The company’s EPS missed the analysts’ estimates by -$0.03.
EMKR: Events and Happenings
On January 25, 2022, EMKR updated about being awarded a developmental agreement by a major contractor to start preliminary production processes to develop Inertial Measurement Units for Advanced Tactical Pods. On January 10, 2022, EMKR updated about its Executive management’s participation at the 24th Annual Needham Growth Conference on January 13, 2022.
On November 10, 2021, EMKR announced the presence of its Executive management at the 12th Annual Craig-Hallum Alpha Select Conference on November 16, 2021. On October 28, 2021, EMKR was informed about the momentous market reception achievement by its SDI170 MEMS Tactical Grade IMU.
Conclusion
EMKR stock down-performed by 29% in the past six months period. The company’s recent stock dip in the premarket hours is due to the financial statement release, in which the company’s actual EPS missed the estimated one. The company is expecting the revenue to be in the range of $40.4 million for the next quarter, while the estimated EPS is $0.16 per share.
