Emcore: Fiscal 3Q Earnings Snapshot
ALHAMBRA, Calif. (AP) _ Emcore Corp. (EMKR) on Thursday reported a fiscal third-quarter loss of $8.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Alhambra, California-based company said it had a loss of 31 cents. Losses, adjusted for stock option expense and non-recurring costs, were 26 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.
The maker of components for communications gear and solar panels posted revenue of $17.7 million in the period.
For the current quarter ending in September, Emcore said it expects revenue in the range of $21 million to $23 million.
Emcore shares have decreased 19 percent since the beginning of the year. The stock has declined 55 percent in the last 12 months.