The cc won't be for another week or so, but on the surface(a pun?),
19.6% sequential growth during these times, looks very, very good? If the visibility is good for next Q?
Emcore Corporation Announces Preliminary Results for Second Quarter
Revenues increase 100% to a record $47.9 million Reports operating profit before goodwill Schedules Conference Call for May, 8, 2001 at 9am EST
SOMERSET, N.J.--(BUSINESS WIRE)--April 30, 2001-- EMCORE Corporation (NASDAQ: EMKR - news), a leading provider of semiconductor technologies for global communications applications, today announced financial results for the second quarter of its fiscal year ending March 31, 2001.
Revenues for the quarter ended March 31, 2001 reached a fifth consecutive record of $47.9 million, up 100.2% compared to revenues of $23.9 million for the corresponding quarter of fiscal 2000 and up 19.6% sequentially compared to revenues of $40.1 million for the quarter ended December 31, 2000. The increase in revenues for the second quarter of 2001 as compared to the quarter ended December 31, 2000 was due primarily to increased shipments of fiber optic products, however, the Company experienced demand across all product lines. The Company's backlog also increased above the level of December's reported record $155 million.
Gross profit for the quarter reached $19.6 million, an increase of 97.1% compared to $9.9 million for the corresponding quarter of fiscal 2000, and an increase of 18.5% sequentially compared to gross profit of $16.5 million for the quarter ended December 31, 2000.
Operating profit for the quarter ended March 31, 2001 was $31,000, excluding goodwill amortization, compared to an operating loss of $3.6 million, excluding goodwill amortization, for the quarter ended December 31, 2000. Operating expenses declined as a percentage of sales due primarily to a decrease in research and development expenses to $12.0 million from $13.2 million in the preceding quarter. The completion and release of several new fiber optic products, early in the quarter including a 10 Gb/s serial device and 2.5 Gb/s LC/SC TOSAs (optical subassemblies), for various data communications network applications contributed to the decrease. EMCORE expects research and development expenditures to continue at levels similar to the second quarter's for the remainder of fiscal 2001 as the Company finalizes the development and commercialization of new fiber optic products, including long wavelength VCSELs (vertical cavity surface emitting lasers), optical subassemblies and modules.
Net income for the quarter including non-recurring items was $2.9 million or $0.08 per diluted share, compared to a net loss of $4.2 million, or $(0.14) per diluted share, for the corresponding quarter of fiscal 2000, and net loss of $7.0 million, or $(0.21) per diluted share for the quarter ended December 31, 2000. On a weighted average basis, diluted shares outstanding for the three months ended March 31, 2001 were 38.4 million compared to 29.8 million for the three months ended March 31, 2000.
During the quarter ended March 31, 2001, EMCORE also finalized a two-year, $20 million line of credit with First Union National Bank.
EMCORE will release complete results after the close of business on May 7, 2001 and will discuss the results further on a conference call to be held on May 8, 2001 at 9:00 a.m. EST. To participate in the conference call, local and international callers can dial 719-457-2657. A replay will be available beginning 12:00 p.m. EST on May 8, 2001 until 12:00 a.m. EST on May 12, 2001. The replay number is 888-203-1112, passcode: ``516714''.
The foreshadowing of long wavelength VCSELs will be another whole gear in the transmission for companies in this sector.
Bring on the 1310 VCSELs. It will spawn tweaked reactors that everyone will want to buy and those will crank out longer reach transceivers. Have read they can put something like 20,000 VCSEls on a 3 inch disc. The data centers will expand their diameters, whether FC or Iband.
Gonna keep some of these seats for a few years.
By 10G copper is all done even for cpu interconnects.
Optics doesn't care whether it is FC,10gE,10FC,iSCSI,Iband. |
