missed this one somehow....
Tuesday June 19, 12:44 pm Eastern Time
Press Release
EMCORE Confirms Expectations for Sixth Consecutive Record Revenue Quarter and Announces New Production Technologies for Datacom and Wireless Markets
New Production Technology Significantly Improves Device Manufacturing Economics
SOMERSET, N.J.--(BUSINESS WIRE)--June 19, 2001-- EMCORE Corporation (NASDAQ: EMKR - news) has announced it is on target to achieve its sixth consecutive quarter of record revenues, as new materials technologies are introduced to enable next generation devices. EMCORE has expanded its production technology offerings with the addition of the Enterprise 300LDM for datacom and telecom applications and the Enterprise 450 series for wireless communications and solid state lighting applications. These new tools will serve as the enabling technology for EMCORE's electronic materials and optical device product offerings and will enhance the Company's ability to significantly improve device manufacturing economics.
The new, innovative growth technology for the Enterprise 450 (E450) and E300LDM dramatically decreases the cost of ownership of the tools by maximizing the efficiency of material usage, reducing cycle times and achieving materials quality that enables next generation devices. Utilizing optical control technology, these new tools enable the lowest device production costs in the industry and are significant catalysts to growth in the fiber optic, wireless communications and solid state lighting device markets. The E450, which grows high quality HBT, pHEMT and LED materials, provides a level of process control and reliability formerly unavailable for large-scale MOCVD production tools. The E300LDM, which is the largest yield producing laser diode tool on the market, meets the needs of datacom and telecom module manufacturers for the development of long wavelength, infrared and visible lasers, and vertical cavity surface emitting lasers (VCSELs).
``EMCORE is on target to achieve another record revenue quarter based on the strength of all of our product lines and our ability to rapidly ramp production of new products,'' said Reuben F. Richards, Jr., President and CEO, EMCORE.
According to an industry report from Strategies Unlimited, the worldwide market for laser diodes is forecast to reach $5.35 billion in 2004 for a compounded growth rate of over 22 percent per year. Strategies Unlimited also reports that the number of cellular and PCS subscribers is forecast to reach 1.3 billion in 2004, while annual handset demand is projected to grow from 240 million units in 1999 to 600 million in 2004. The study found that new services such as instant messaging, wireless data, and Internet access will provide continued momentum for strong growth over the next five years.
Paul Rotella, Vice President of EMCORE's TurboDisc Tools Division added, ``This expansion of our Enterprise® line features our RealTemp(TM) optical control technology, which allows materials manufacturers to improve the quality of highly sensitive materials, and facilitates a more efficient, accurate and cost-effective production process while improving yield with less downtime.''
For solid-state lighting applications, the worldwide market for high-brightness LEDs (light emitting diodes) reached $1.2 billion in 2000, and is expected to exceed $3.4 billion in 2005, noted a recent report from Strategies Unlimited. LED traffic signals have experienced dramatic market growth since they consume 80 percent less electricity than incandescent lamps. Additionally, the energy crisis in California has resulted in the California Department of Transportation replacing more than 200,000 traffic signals with LEDs.
The E450 and E300LDM feature the exclusive TurboDisc® technology platform, which utilizes a vertical growth chamber configuration to accomplish exceptional thickness, doping, and composition uniformity. By combining large batch sizes, the shortest time between runs currently available, a redesigned high efficiency growth chamber, and RealTemp(TM) optical control, EMCORE's new Enterprise tools provide the lowest cost per wafer available.
Editor's Note:
About EMCORE
EMCORE Corporation offers a versatile portfolio of compound semiconductor products for the rapidly expanding broadband and wireless communications and solid state lighting markets. The Company's integrated solutions philosophy embodies state of the art technology, material science expertise and a shared vision of our customer's goals and objectives to be leaders and pioneers in the rapidly growing world of compound semiconductors. EMCORE's solutions include: optical components for high speed data and telecommunications; solar cells for global satellite communications; electronic materials for high bandwidth communications systems, such as Internet access and wireless telephones; MOCVD tools for the growth of GaAs, AlGaAs, InP, InGaP, InGaAlP, InGaAsP, GaN, InGaN, AlGaN, and SiC epitaxial materials used in numerous applications, including data and telecommunications modules, cellular telephones, solar cells and high brightness LEDs. For further information about EMCORE, visit emcore.com.
The information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 relating to future events that involve risks and uncertainties. Words such as ``expects,'' ``anticipates,'' ``intends,'' ``plans,'' believes,`` and ''estimates,`` and variations of these words and similar expressions, identify these forward looking statements. Actual operating results may differ materially from such forward-looking statements and are subject to certain risks, including risks arising from: cancellations, rescheduling or delays in product shipments; manufacturing capacity constraints; lengthy sales and qualification cycles; difficulties in the production process; changes in semiconductor industry growth, increased competition, delays in developing and commercializing new products, and other factors described in EMCORE's filings with the Securities and Exchange Commission. The forward-looking statements contained in this news release are made as of the date hereof and EMCORE does not assume any obligation to update the reasons why actual results could differ materially from those projected in the forward-looking statements.
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