{"id":389876,"date":"2020-11-30T16:04:05","date_gmt":"2020-11-30T21:04:05","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=389876"},"modified":"2020-11-30T16:04:05","modified_gmt":"2020-11-30T21:04:05","slug":"emcore-reports-fiscal-2020-fourth-quarter-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/emcore-reports-fiscal-2020-fourth-quarter-results\/","title":{"rendered":"EMCORE Reports Fiscal 2020 Fourth Quarter Results"},"content":{"rendered":"
\n

ALHAMBRA, CA, Nov. 30, 2020 (GLOBE NEWSWIRE) — EMCORE Corporation (Nasdaq: EMKR), a leading provider of advanced mixed-signal products that serve the aerospace & defense and broadband communications markets, today announced results for the fiscal 2020 fourth quarter ended September 30, 2020 (4Q20). Management will host a conference call to discuss financial and business results tomorrow, Tuesday, December 1, 2020, at 8:00 AM Eastern Time.<\/p>\n

Consolidated revenue for 4Q20 was $33.5 million, comprised of $14.5 million from the Aerospace & Defense segment and $19.0 million from the Broadband segment. Net income on a GAAP and non-GAAP basis was $0.7 million and $2.9 million, respectively, in 4Q20 compared with a net loss on a GAAP and non-GAAP basis of $1.3 million and $0.7 million, respectively, in 3Q20. Adjusted EBITDA was positive $4.0 million in 4Q20.<\/p>\n

\u201cSolid execution in 4Q20 resulted in revenue growth of 23% sequentially and continued gross margin expansion, enabling us to achieve positive GAAP earnings and very strong non-GAAP profitability metrics. Increased sales of our Quartz MEMS Navigation and Defense Optoelectronics product lines drove the growth for A&D, while robust demand for our Cable TV products resulted in exceptional financial performance for Broadband,\u201d said Jeff Rittichier, Chief Executive Officer of EMCORE. \u201cLooking ahead, despite the ongoing challenges of the COVID-19 pandemic, we expect to continue to execute well in all areas of the business, including Broadband where we see orders for our Cable TV products extending well into the June 2021 quarter,\u201d concluded Rittichier.<\/p>\n

\n
\n Consolidated Results<\/u>
\n <\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n Sep 30, 2020<\/strong>\n <\/td>\n\n Jun 30, 2020<\/strong>\n <\/td>\n\n + increase \/<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n 4Q20<\/strong>\n <\/td>\n\n 3Q20<\/strong>\n <\/td>\n\n – decrease<\/strong>\n <\/td>\n<\/tr>\n
Revenue<\/td>\n$33.5M<\/td>\n$27.3M<\/td>\n+$6.2M<\/td>\n<\/tr>\n
Gross Margin<\/td>\n\u00a0<\/td>\n37%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n34%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n+3%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating Expenses<\/td>\n$11.9M<\/td>\n$10.4M<\/td>\n+$1.5M<\/td>\n<\/tr>\n
Operating Margin<\/td>\n\u00a0<\/td>\n2%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-4%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n+6%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net Income (Loss)<\/td>\n$0.7M<\/td>\n($1.3M)<\/td>\n+$2.0M<\/td>\n<\/tr>\n
Earnings (Loss) Per Share<\/td>\n$0.02<\/td>\n\u00a0<\/td>\n($0.04)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n+$0.06<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-GAAP Gross Margin (1)<\/td>\n\u00a0<\/td>\n38%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n34%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n+4%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-GAAP Operating Expenses (1)<\/td>\n$9.7M<\/td>\n$10.1M<\/td>\n-0.4M<\/td>\n<\/tr>\n
Non-GAAP Operating Margin (1)<\/td>\n\u00a0<\/td>\n9%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-3%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n+12%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-GAAP Net Income (Loss) (1)<\/td>\n$2.9M<\/td>\n($0.7M)<\/td>\n+$3.6M<\/td>\n<\/tr>\n
Non-GAAP Earnings (Loss) Per Share (1)<\/td>\n$0.10<\/td>\n\u00a0<\/td>\n($0.03)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n+$0.13<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted EBITDA<\/td>\n$4.0M<\/td>\n$0.3M<\/td>\n+$3.7M<\/td>\n<\/tr>\n
Ending Cash and Cash Equivalents<\/td>\n$30.5M<\/td>\n$29.7M<\/td>\n+$0.8M<\/td>\n<\/tr>\n
Loan Payable<\/td>\n$6.5M<\/td>\n$6.5M<\/td>\n+$0.0M<\/td>\n<\/tr>\n
(1) Please refer to the schedules at the end of this press release for complete GAAP to non-GAAP reconciliations and other information related to non-GAAP financial measures<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n Aerospace and Defense (A&D) Segment<\/u>
\n <\/strong>\n <\/p>\n

A&D\u2019s sequential-quarter revenue increase was driven by increased revenue for the Quartz MEMS and Defense Optoelectronics product lines. A&D\u2019s sequential-quarter gross margin decrease was due to a less favorable product mix in 4Q20 and non-recurring credits in 3Q20.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n
\n Three Months Ended<\/strong>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n
\n Sep 30, 2020<\/strong>
\n <\/strong>\n <\/td>\n		\n
\n Jun 30, 2020<\/strong>
\n <\/strong>\n <\/td>\n		\n
\n + increase \/<\/strong>
\n <\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n
\n 4Q20<\/strong>
\n <\/strong>\n <\/td>\n		\n
\n 3Q20<\/strong>
\n <\/strong>\n <\/td>\n		\n
\n – decrease<\/strong>
\n <\/strong>\n <\/td>\n<\/tr>\n
A&D Segment Revenue<\/td>\n$14.5M<\/td>\n$14.0M<\/td>\n+$0.5M<\/td>\n<\/tr>\n
A&D Segment Gross Margin<\/td>\n31%<\/td>\n\u00a0<\/td>\n35%<\/td>\n\u00a0<\/td>\n-4%<\/td>\n\u00a0<\/td>\n<\/tr>\n
A&D Segment R&D Expense (2)<\/td>\n$5.6M<\/td>\n$3.9M<\/td>\n+$1.7M<\/td>\n<\/tr>\n
A&D Segment Profit<\/td>\n-$1.1M<\/td>\n$1.0M<\/td>\n-$2.1M<\/td>\n<\/tr>\n
Non-GAAP A&D Segment Gross Margin (1)<\/td>\n32%<\/td>\n\u00a0<\/td>\n36%<\/td>\n\u00a0<\/td>\n-4%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-GAAP A&D Segment R&D Expense (1)<\/td>\n$4.0M<\/td>\n$3.9M<\/td>\n+$0.1M<\/td>\n<\/tr>\n
Non-GAAP A&D Segment Profit<\/td>\n$0.6M<\/td>\n$1.1M<\/td>\n-$0.5M<\/td>\n<\/tr>\n
(1) Please refer to the schedules at the end of this press release for complete GAAP to non-GAAP reconciliations and other information related to non-GAAP financial measures<\/td>\n<\/tr>\n
(2) Individual components may not sum to the total of reported consolidated amounts due to rounding.<\/td>\n<\/tr>\n<\/table>\n

\n
\n
\n Broadband Segment<\/strong>
\n <\/u>
\n <\/strong>\n <\/p>\n

Broadband\u2019s sequential-quarter revenue increase was driven by robust demand for Cable TV optical transmitters and components.\u00a0 Broadband\u2019s sequential-quarter gross margin increase was driven by the increased revenue, over-absorption of production costs, and a favorable product mix.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n
\n Three Months Ended<\/strong>
\n <\/strong>\n <\/td>\n		\n
\n \u00a0<\/strong>
\n <\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n
\n Sep 30, 2020<\/strong>
\n <\/strong>\n <\/td>\n		\n
\n Jun 30, 2020<\/strong>
\n <\/strong>\n <\/td>\n		\n
\n + increase \/<\/strong>
\n <\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n
\n 4Q20<\/strong>
\n <\/strong>\n <\/td>\n		\n
\n 3Q20<\/strong>
\n <\/strong>\n <\/td>\n		\n
\n – decrease<\/strong>
\n <\/strong>\n <\/td>\n<\/tr>\n
Broadband Segment Revenue<\/td>\n$19.0M<\/td>\n$13.3M<\/td>\n+$5.7M<\/td>\n<\/tr>\n
Broadband Segment Gross Margin<\/td>\n42%<\/td>\n\u00a0<\/td>\n33%<\/td>\n\u00a0<\/td>\n+9%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Broadband Segment R&D Expense (2)<\/td>\n$0.7M<\/td>\n$0.9M<\/td>\n-$0.2M<\/td>\n<\/tr>\n
Broadband Segment Profit<\/td>\n$7.3M<\/td>\n$3.5M<\/td>\n+$3.8M<\/td>\n<\/tr>\n
Non-GAAP Broadband Segment Gross Margin (1)<\/td>\n42%<\/td>\n\u00a0<\/td>\n33%<\/td>\n\u00a0<\/td>\n+9%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-GAAP Broadband Segment R&D Expense (1)<\/td>\n$0.6M<\/td>\n$0.8M<\/td>\n-$0.2M<\/td>\n<\/tr>\n
Non-GAAP Broadband Segment Profit<\/td>\n$7.4M<\/td>\n$3.6M<\/td>\n+$3.8M<\/td>\n<\/tr>\n
(1) Please refer to the schedules at the end of this press release for complete GAAP to non-GAAP reconciliations and other information related to non-GAAP financial measures<\/td>\n<\/tr>\n
(2) Individual components may not sum to the total of reported consolidated amounts due to rounding.<\/td>\n<\/tr>\n<\/table>\n

\n

\n
\n Business Outlook<\/u>
\n <\/strong>\n <\/p>\n

The Company expects revenue for the fiscal first quarter ending December 31, 2020 to be in the range of $32 million to $34 million.<\/p>\n

\n
\n Conference Call<\/u>
\n <\/strong>\n <\/p>\n

The Company will discuss its financial results on December 1, 2020 at 8:00 a.m. ET (5:00 a.m. PT). The call will be available by dialing 800-367-2403. For international callers, please dial +1 334-777-6978. The conference passcode number is 9769724. The call will be webcast live via the Company’s website at http:\/\/investor.emcore.com\/events.cfm. A webcast will be available for replay beginning approximately one hour following the conclusion of the call on the Company’s website.<\/p>\n

\n
\n About EMCORE<\/u>
\n <\/strong>\n <\/p>\n

EMCORE Corporation is a leading provider of advanced mixed-signal products that serve the aerospace & defense and broadband communications markets. Our best-in-class components and systems support a broad array of applications including navigation and inertial sensing, defense optoelectronics, broadband transport, 5G wireless infrastructure, optical sensing, and cloud data centers. We leverage industry-leading Quartz MEMS, Lithium Niobate and Indium Phosphide chip-level technology to deliver state-of-the-art component and system-level products across our end-market applications. EMCORE has vertically-integrated manufacturing capability at its wafer fabrication facility in Alhambra, CA, and quartz MEMS manufacturing facility in Concord, CA. Our manufacturing facilities maintain ISO 9001 quality management certification, and we are AS9100 aerospace quality certified at our facility in Concord. For further information about EMCORE, please visit http:\/\/www.emcore.com<\/a>.<\/p>\n

\n
\n Use of Non-GAAP Financial Measures<\/u>
\n <\/strong>\n <\/p>\n

The Company conforms to U.S. Generally Accepted Accounting Principles (GAAP) in the preparation of its financial statements. We disclose supplemental non-GAAP earnings measures for gross profit margin, operating expenses, operating profit margin, net income, and earnings per share, as well as adjusted EBITDA.<\/p>\n

Management believes these supplemental non-GAAP measures reflect the Company\u2019s core ongoing operating performance and facilitates comparisons across reporting periods. The Company uses these measures when evaluating its financial results and for planning and forecasting of future periods. We believe that these supplemental non-GAAP measures are also useful to investors in assessing our operating performance. While we believe in the usefulness of these supplemental non-GAAP measures, there are limitations. Our non-GAAP measures may not be reported by other companies in our industry and\/or may not be directly comparable to similarly titled measures of other companies due to potential differences in calculation. We compensate for these limitations by using these non-GAAP measures as a supplement to GAAP and by providing the reconciliations to the most comparable GAAP measure.<\/p>\n

The schedules at the end of this press release reconcile the Company\u2019s non-GAAP measures to the most directly comparable GAAP measure. The adjustments share one or more of the following characteristics: they are unusual and the Company does not expect them to recur in the ordinary course of its business, they do not involve the expenditure of cash, they are unrelated to the ongoing operation of the business in the ordinary course, or their magnitude and timing is largely outside of the Company\u2019s control. For all reporting periods disclosed, the Company has applied consistent rationale, method, and adjustments in reconciling non-GAAP measures to the most directly comparable GAAP measure.<\/p>\n

Non-GAAP measures are not in accordance with or an alternative to GAAP, nor are they meant to be considered in isolation or as a substitute for comparable GAAP measures. Our disclosures of these measures should be read only in conjunction with our financial statements prepared in accordance with GAAP. Non-GAAP measures should not be viewed as a substitute for the Company\u2019s GAAP results.<\/p>\n

\n
\n Forward-Looking Statements<\/u>
\n <\/strong>\n <\/p>\n

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 (\u201cExchange Act\u201d). These forward-looking statements are largely based on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Such forward-looking statements include, in particular, projections about our future results, statements about our plans, strategies, business prospects, changes and trends in our business and the markets in which we operate.<\/p>\n

These forward-looking statements may be identified by the use of terms and phrases such as \u201canticipates\u201d, \u201cbelieves\u201d, \u201ccan\u201d, \u201ccould\u201d, \u201cestimates\u201d, \u201cexpects\u201d, \u201cforecasts\u201d, \u201cintends\u201d, \u201cmay\u201d, \u201cplans\u201d, \u201cprojects\u201d, \u201ctargets\u201d, \u201cwill\u201d, and similar expressions or variations of these terms and similar phrases. Additionally, statements concerning future matters such as projected financial results, the development of new products, enhancements or technologies, sales levels, expense levels and other statements regarding matters that are not historical are forward-looking statements. We caution that these forward-looking statements relate to future events or our future financial performance and are subject to business, economic, and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance or achievements of our business or our industry to be materially different from those expressed or implied by any forward-looking statements.<\/p>\n

These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including without limitation, the following: (a) the rapidly evolving markets for the Company’s products and uncertainty regarding the development of these markets; (b) the Company’s historical dependence on sales to a limited number of customers and fluctuations in the mix of products and customers in any period; (c) delays and other difficulties in commercializing new products; (d) the failure of new products: (i) to perform as expected without material defects, (ii) to be manufactured at acceptable volumes, yields, and cost, (iii) to be qualified and accepted by our customers, and (iv) to successfully compete with products offered by our competitors; (e) uncertainties concerning the availability and cost of commodity materials and specialized product components that we do not make internally; (f) actions by competitors; (g) risks and uncertainties related to applicable laws and regulations, including the impact of changes to applicable tax laws and tariff regulations; (h) acquisition-related risks, including that (i) the revenues and net operating results obtained from our acquisition of the Systron Donner Inertial (“SDI”) business may not meet our expectations, (ii) the costs and cash expenditures for integration of the SDI business operations may be higher than expected, (iii) there could be losses and liabilities arising from the acquisition of SDI that we will not be able to recover from any source, and (iv) we may not realize sufficient scale in our navigation systems product line from the SDI acquisition and will need to take additional steps, including making additional acquisitions, to achieve our growth objectives for this product line; (i) risks related to our ability to obtain capital; (j) risks related to the transition of certain of our manufacturing operations from our Beijing facility to a contract manufacturer\u2019s facility; (k) the outbreak of COVID-19 and the impact on our business and operations, which is evolving and beyond our control; and (l) other risks and uncertainties discussed under Item 1A – Risk Factors in our Annual Report on Form 10-K for the fiscal year ended September 30, 2019, as updated by our subsequent periodic reports.<\/p>\n

Forward-looking statements are based on certain assumptions and analysis made in light of our experience and perception of historical trends, current conditions and expected future developments as well as other factors that we believe are appropriate under the circumstances. While these statements represent our judgment on what the future may hold, and we believe these judgments are reasonable, these statements are not guarantees of any events or financial results. All forward-looking statements in this press release are made as of the date hereof, based on information available to us as of the date hereof, and subsequent facts or circumstances may contradict, obviate, undermine, or otherwise fail to support or substantiate such statements. We caution you not to rely on these statements without also considering the risks and uncertainties associated with these statements and our business that are addressed in our filings with the Securities and Exchange Commission (\u201cSEC\u201d) that are available on the SEC\u2019s web site located at www.sec.gov, including the sections entitled \u201cRisk Factors\u201d in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Certain information included in this press release may supersede or supplement forward-looking statements in our other Exchange Act reports filed with the SEC. We do not intend to update any forward-looking statement to conform such statements to actual results or to changes in our expectations, except as required by applicable law or regulation.<\/p>\n

\n
\n EMCORE CORPORATION<\/u>
\n <\/strong>
\n
\n
\n Co<\/u>
\n <\/strong>
\n
\n ndensed Co<\/u>
\n <\/strong>
\n
\n nsolidat<\/u>
\n <\/strong>
\n
\n ed Statement of Operations<\/u>
\n <\/strong>
\n
\n
\n (in thousands, except for per share data)<\/u>
\n <\/strong>
\n
\n
\n (unaudited)<\/u>
\n <\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n For\u00a0the\u00a0three\u00a0months\u00a0ended<\/strong>\n <\/td>\n\u00a0<\/td>\n\n For\u00a0the\u00a0fiscal year\u00a0ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n September\u00a030,<\/strong>\n <\/td>\n\u00a0<\/td>\n\n September\u00a030,<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n\n 2019<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenue<\/td>\n\u00a0<\/td>\n$<\/td>\n33,530<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n24,300<\/td>\n\u00a0<\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n$<\/td>\n110,128<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n87,265<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21,067<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24,532<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n74,546<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n72,176<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross profit<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12,463<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(232<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n35,582<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,089<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating expense:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Selling, general, and administrative<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,669<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,217<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24,631<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n32,094<\/td>\n\u00a0<\/td>\n<\/tr>\n
Research and development<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,236<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,435<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20,269<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19,443<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss (gain) from change in estimate on ARO obligation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(14<\/td>\n)<\/td>\n<\/tr>\n
Gain on sale of assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(55<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(302<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,284<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(302<\/td>\n)<\/td>\n<\/tr>\n
Total operating expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,850<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,376<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n42,616<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n51,221<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating income (loss)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n613<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(14,608<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(7,034<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(36,132<\/td>\n)<\/td>\n<\/tr>\n
Other income:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest (expense) income, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(50<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n39<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(104<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n629<\/td>\n\u00a0<\/td>\n<\/tr>\n
Foreign exchange gain (loss)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n227<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(396<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n198<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(427<\/td>\n)<\/td>\n<\/tr>\n
Total other (expense) income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n177<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(357<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n94<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n202<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income (loss) before income tax expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n790<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(14,965<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(6,940<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(35,930<\/td>\n)<\/td>\n<\/tr>\n
Income tax expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(87<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(10<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(60<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(54<\/td>\n)<\/td>\n<\/tr>\n
Net income (loss)<\/td>\n\u00a0<\/td>\n$<\/td>\n703<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(14,975<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(7,000<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(35,984<\/td>\n)<\/td>\n<\/tr>\n
Foreign exchange translation adjustment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(27<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n29<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(32<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n65<\/td>\n\u00a0<\/td>\n<\/tr>\n
Comprehensive income (loss)<\/td>\n\u00a0<\/td>\n$<\/td>\n676<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(14,946<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(7,032<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(35,919<\/td>\n)<\/td>\n<\/tr>\n
\n Per share data:<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income (loss) per basic and diluted share<\/td>\n\u00a0<\/td>\n$<\/td>\n0.02<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.52<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.24<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(1.29<\/td>\n)<\/td>\n<\/tr>\n
Weighted-average number of basic and diluted shares outstanding<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n29,386<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n28,734<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n29,136<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n27,983<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n EMCORE CORPORATION<\/u>
\n <\/strong>
\n
\n
\n Condensed Consolidated <\/u>
\n <\/strong>
\n
\n Balance Sheet<\/u>
\n <\/strong>
\n
\n s<\/u>
\n <\/strong>
\n
\n
\n (in thousands)<\/u>
\n <\/strong>
\n
\n
\n (unaudited)<\/u>
\n <\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n As of September\u00a030,\u00a0<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n ASSETS<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current assets:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n\u00a0<\/td>\n$<\/td>\n30,390<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n21,574<\/td>\n\u00a0<\/td>\n<\/tr>\n
Restricted cash<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n148<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n403<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts receivable, net of allowance of $227 and $148, respectively<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25,324<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18,497<\/td>\n\u00a0<\/td>\n<\/tr>\n
Contract assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,566<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,055<\/td>\n\u00a0<\/td>\n<\/tr>\n
Inventory<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25,525<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24,051<\/td>\n\u00a0<\/td>\n<\/tr>\n
Prepaid expenses and other current assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,589<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,389<\/td>\n\u00a0<\/td>\n<\/tr>\n
Assets held for sale<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,568<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n90,110<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n71,969<\/td>\n\u00a0<\/td>\n<\/tr>\n
Property, plant, and equipment, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21,052<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n37,223<\/td>\n\u00a0<\/td>\n<\/tr>\n
Goodwill<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n69<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n69<\/td>\n\u00a0<\/td>\n<\/tr>\n
ROU assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,566<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other intangible assets, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n202<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n239<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other non-current assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n242<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n62<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total assets<\/td>\n\u00a0<\/td>\n$<\/td>\n126,241<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n109,562<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n LIABILITIES and SHAREHOLDERS\u2019 EQUITY<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current liabilities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Borrowings from credit facility<\/td>\n\u00a0<\/td>\n$<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n5,497<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts payable<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16,484<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10,701<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accrued expenses and other current liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,577<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,521<\/td>\n\u00a0<\/td>\n<\/tr>\n
ROU liability – current<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n992<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n29,053<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n30,719<\/td>\n\u00a0<\/td>\n<\/tr>\n
PPP liability – non-current<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,488<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
ROU liability – non-current<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13,735<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Asset retirement obligations<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,022<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,890<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other long-term liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n794<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n207<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n52,092<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n32,816<\/td>\n\u00a0<\/td>\n<\/tr>\n
Commitments and contingencies<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Shareholders\u2019 equity:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Common stock, no par value, 50,000 shares authorized; 36,461 shares issued and 29,551 shares outstanding as of September\u00a030,\u00a02020; 35,803 shares issued and 28,893 shares outstanding as of September\u00a030,\u00a02019<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n744,361<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n739,926<\/td>\n\u00a0<\/td>\n<\/tr>\n
Treasury stock at cost; 6,910 shares<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(47,721<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(47,721<\/td>\n)<\/td>\n<\/tr>\n
Accumulated other comprehensive income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n918<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n950<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accumulated deficit<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(623,409<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(616,409<\/td>\n)<\/td>\n<\/tr>\n
Total shareholders\u2019 equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n74,149<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n76,746<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities and shareholders\u2019 equity<\/td>\n\u00a0<\/td>\n$<\/td>\n126,241<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n109,562<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n EMCORE CORPORATION<\/u>
\n <\/strong>\n <\/p>\n

\n
\n Reconciliations o<\/u>
\n <\/strong>
\n
\n f<\/u>
\n <\/strong>
\n
\n GAAP to Non-GAAP Financial Measure<\/u>
\n <\/strong>
\n
\n s<\/u>
\n <\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Three\u00a0Months\u00a0Ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Sep\u00a030,\u00a02020<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Jun\u00a030,\u00a02020<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n\n 4Q20<\/strong>\n <\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n\n 3Q20<\/strong>\n <\/td>\n<\/tr>\n
\n Gross Profit<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 12,463<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 9,218<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Gross Margin<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 37<\/strong>
\n %<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 34<\/strong>
\n %<\/strong>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n Adjustments:<\/u>
\n <\/strong>\n <\/td>\n		\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Stock-based compensation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n194<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n166<\/td>\n\u00a0<\/td>\n<\/tr>\n
Asset retirement obligation (ARO) accretion<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization of acquired intangibles<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Total adjustments<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 211<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 183<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Non-GAAP Gross Profit<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 12,674<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 9,401<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Non-GAAP Gross Margin<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 38<\/strong>
\n %<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 34<\/strong>
\n %<\/strong>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Three\u00a0Months\u00a0Ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Sep\u00a030,\u00a02020<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Jun\u00a030,\u00a02020<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n\n 4Q20<\/strong>\n <\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n\n 3Q20<\/strong>\n <\/td>\n<\/tr>\n
\n Operating Expenses<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 11,850<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 10,431<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Stock-based compensation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(697<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(613<\/td>\n)<\/td>\n<\/tr>\n
Acquisition-related expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n<\/tr>\n
Severance and restructuring charges<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(5<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(13<\/td>\n)<\/td>\n<\/tr>\n
CATV transition – gain on sale of asset<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n55<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n312<\/td>\n\u00a0<\/td>\n<\/tr>\n
Litigation-related expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,464<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(18<\/td>\n)<\/td>\n<\/tr>\n
\n Non-GAAP Operating Expenses<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 9,739<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 10,102<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Three\u00a0Months\u00a0Ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Sep\u00a030,\u00a02020<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Jun\u00a030,\u00a02020<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n\n 4Q20<\/strong>\n <\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n\n 3Q20<\/strong>\n <\/td>\n<\/tr>\n
\n Operating Profit<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 613<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n (1,213<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n<\/tr>\n
\n Operating Margin<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2<\/strong>
\n %<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n -4%<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n Adjustments:<\/u>
\n <\/strong>\n <\/td>\n		\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0<\/td>\n<\/tr>\n
Stock-based compensation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n891<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n779<\/td>\n\u00a0<\/td>\n<\/tr>\n
Asset retirement obligation (ARO) accretion<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8<\/td>\n\u00a0<\/td>\n<\/tr>\n
Acquisition-related expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3<\/td>\n)<\/td>\n<\/tr>\n
Amortization of acquired intangibles<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9<\/td>\n\u00a0<\/td>\n<\/tr>\n
Severance and restructuring charges<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13<\/td>\n\u00a0<\/td>\n<\/tr>\n
CATV transition – gain on sale of asset<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(55<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(312<\/td>\n)<\/td>\n<\/tr>\n
Litigation-related expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,464<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Total adjustments<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2,322<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 512<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Non-GAAP Operating Profit<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2,935<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n (701<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n<\/tr>\n
\n Non-GAAP Operating Margin<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 9<\/strong>
\n %<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n -3%<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Depreciation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,108<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,029<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted EBITDA<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 4,043<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 328<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted EBITDA %<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 12<\/strong>
\n %<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1<\/strong>
\n %<\/strong>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Three\u00a0Months\u00a0Ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Sep\u00a030,\u00a02020<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Jun\u00a030,\u00a02020<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n\n 4Q20<\/strong>\n <\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n\n 3Q20<\/strong>\n <\/td>\n<\/tr>\n
\n Net Income (Loss)<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 703<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n (1,287<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n<\/tr>\n
\n Earnings (Loss) Per Share<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 0.02<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n (0.04<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n Adjustments:<\/u>
\n <\/strong>\n <\/td>\n		\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0<\/td>\n<\/tr>\n
Stock-based compensation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n891<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n779<\/td>\n\u00a0<\/td>\n<\/tr>\n
Asset retirement obligation (ARO) accretion<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8<\/td>\n\u00a0<\/td>\n<\/tr>\n
Acquisition-related expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3<\/td>\n)<\/td>\n<\/tr>\n
Amortization of acquired intangibles<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9<\/td>\n\u00a0<\/td>\n<\/tr>\n
Severance and restructuring charges<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13<\/td>\n\u00a0<\/td>\n<\/tr>\n
CATV transition – gain on sale of asset<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(55<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(312<\/td>\n)<\/td>\n<\/tr>\n
Litigation-related expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,464<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18<\/td>\n\u00a0<\/td>\n<\/tr>\n
Foreign currency gain\/loss<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(227<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n87<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Total adjustments<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2,182<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 546<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Non-GAAP Net Income (Loss)<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 2,885<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n (741<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n<\/tr>\n
\n Non-GAAP Earnings (Loss) Per Share<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 0.10<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n (0.03<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n50<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n40<\/td>\n\u00a0<\/td>\n<\/tr>\n
Depreciation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,108<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,029<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted EBITDA<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 4,043<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 328<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted EBITDA %<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 12<\/strong>
\n %<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 1<\/strong>
\n %<\/strong>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Three\u00a0Months\u00a0Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Three\u00a0Months\u00a0Ended<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n\n Sep\u00a030,\u00a02020<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Jun\u00a030,\u00a02020<\/strong>\n <\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n\n Sep\u00a030,\u00a02020<\/strong>\n <\/td>\n\u00a0<\/td>\n\n Jun\u00a030,\u00a02020<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 4Q20<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 3Q20<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 4Q20<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 3Q20<\/strong>\n <\/td>\n<\/tr>\n
\n
\n Aerospace and Defense<\/u>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n
\n Broadband<\/u>
\n <\/strong>\n <\/td>\n		\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0\u00a0\u00a0\u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0\u00a0\u00a0\u00a0<\/td>\n<\/tr>\n
\n Gross Profit<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 4,501<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 4,877<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Gross Profit<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 7,962<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 4,341<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Gross Margin<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 31<\/strong>
\n %<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 35<\/strong>
\n %<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\n Gross Margin<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 42<\/strong>
\n %<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 33<\/strong>
\n %<\/strong>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjustments:<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Adjustments:<\/u>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Stock-based compensation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n154<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n114<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nStock-based compensation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n40<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n52<\/td>\n\u00a0<\/td>\n<\/tr>\n
Asset retirement obligation (ARO) accretion<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nAsset retirement obligation (ARO) accretion<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization of acquired intangibles<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nAmortization of acquired intangibles<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Total adjustments<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 163<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 123<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Total adjustments<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 48<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 60<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Non-GAAP Gross Profit<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 4,664<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 5,000<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Non-GAAP Gross Profit<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 8,010<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 4,401<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Non-GAAP Gross Margin<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 32<\/strong>
\n %<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 36<\/strong>
\n %<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\n Non-GAAP Gross Margin<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\u00a0<\/td>\n\n 42<\/strong>
\n %<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 33<\/strong>
\n %<\/strong>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n Aerospace and Defense<\/u>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n
\n Broadband<\/u>
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n R&D Expenses<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 5,574<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 3,925<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n R&D Expenses<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 662<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 882<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Stock-based compensation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(70<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(53<\/td>\n)<\/td>\n\u00a0<\/td>\nStock-based compensation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(42<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(72<\/td>\n)<\/td>\n<\/tr>\n
Litigation-related expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,464<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nLitigation-related expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Non-GAAP R&D Expenses<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 4,040<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 3,872<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Non-GAAP R&D Expenses<\/strong>\n <\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 620<\/strong>\n <\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n\n $<\/strong>\n <\/td>\n\n 810<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n Contact:<\/u>
\n
EMCORE Corporation
Tom Minichiello
(626) 293-3400
investor@emcore.com<\/a><\/u><\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

ALHAMBRA, CA, Nov. 30, 2020 (GLOBE NEWSWIRE) — EMCORE Corporation (Nasdaq: EMKR), a leading provider of advanced mixed-signal products that serve the aerospace & defense and broadband communications markets, today announced results for the fiscal 2020 fourth quarter ended September 30, 2020 (4Q20). Management will host a conference call to discuss financial and business results tomorrow, Tuesday, December 1, 2020, at 8:00 AM Eastern Time. Consolidated revenue for 4Q20 was $33.5 million, comprised of $14.5 million from the Aerospace & Defense segment and $19.0 million from the Broadband segment. Net income on a GAAP and non-GAAP basis was $0.7 million and $2.9 million, respectively, in 4Q20 compared with a net loss on a GAAP and non-GAAP basis of $1.3 million … <\/p>\n

Continue reading “EMCORE Reports Fiscal 2020 Fourth Quarter Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-389876","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nEMCORE Reports Fiscal 2020 Fourth Quarter Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/emcore-reports-fiscal-2020-fourth-quarter-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EMCORE Reports Fiscal 2020 Fourth Quarter Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"ALHAMBRA, CA, Nov. 30, 2020 (GLOBE NEWSWIRE) — EMCORE Corporation (Nasdaq: EMKR), a leading provider of advanced mixed-signal products that serve the aerospace & defense and broadband communications markets, today announced results for the fiscal 2020 fourth quarter ended September 30, 2020 (4Q20). Management will host a conference call to discuss financial and business results tomorrow, Tuesday, December 1, 2020, at 8:00 AM Eastern Time. Consolidated revenue for 4Q20 was $33.5 million, comprised of $14.5 million from the Aerospace & Defense segment and $19.0 million from the Broadband segment. 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Management will host a conference call to discuss financial and business results tomorrow, Tuesday, December 1, 2020, at 8:00 AM Eastern Time. Consolidated revenue for 4Q20 was $33.5 million, comprised of $14.5 million from the Aerospace & Defense segment and $19.0 million from the Broadband segment. Net income on a GAAP and non-GAAP basis was $0.7 million and $2.9 million, respectively, in 4Q20 compared with a net loss on a GAAP and non-GAAP basis of $1.3 million … Continue reading \"EMCORE Reports Fiscal 2020 Fourth Quarter Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/emcore-reports-fiscal-2020-fourth-quarter-results\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-30T21:04:05+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NDA4OCMzODQ4ODA3IzIwMTEzMjc=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"13 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/emcore-reports-fiscal-2020-fourth-quarter-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/emcore-reports-fiscal-2020-fourth-quarter-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"EMCORE Reports Fiscal 2020 Fourth Quarter Results","datePublished":"2020-11-30T21:04:05+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/emcore-reports-fiscal-2020-fourth-quarter-results\/"},"wordCount":2604,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/emcore-reports-fiscal-2020-fourth-quarter-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NDA4OCMzODQ4ODA3IzIwMTEzMjc=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/emcore-reports-fiscal-2020-fourth-quarter-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/emcore-reports-fiscal-2020-fourth-quarter-results\/","name":"EMCORE Reports Fiscal 2020 Fourth Quarter Results - 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