EMCORE Corp. (EMKR, Financial) filed Quarterly Report for the period ended 2010-06-30.
Emcore Corp. has a market cap of $65.6 million; its shares were traded at around $0.78 with and P/S ratio of 0.4. EMKR is in the portfolios of Steven Cohen of SAC Capital Advisors.
As of June 30, 2010, the Company had a consolidated order backlog of approximately $67.6 million, a slight decrease from a $68.0 million order backlog reported as of the end of the preceding quarter. On a segment basis, the quarter-end Photovoltaics order backlog totaled $42.5 million, a $1.2 million, or 3%, increase from $41.3 million reported as of the end of the preceding quarter. The quarter-end Fiber Optics order backlog totaled $25.1 million, a $1.6 million, or 6% decrease from $26.7 million reported as of the end of the preceding quarter. Order backlog is defined as purchase orders or supply agreements accepted by the Company with expected product delivery and/or services to be performed within the next twelve months.
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Emcore Corp. has a market cap of $65.6 million; its shares were traded at around $0.78 with and P/S ratio of 0.4. EMKR is in the portfolios of Steven Cohen of SAC Capital Advisors.
Highlight of Business Operations:
As of June 30, 2010, cash, cash equivalents, available-for-sale securities and current restricted cash totaled approximately $16.0 million. Historically, management has addressed the Company s liquidity requirements through the combination of cost reduction initiatives, improvements in working capital management, capital markets transactions, and the sale of assets. In fiscal 2010, management continues to remain focused on reducing the amount of cash used from operations while developing additional sources of liquidity. For the nine months ended June 30, 2010, and 2009, the Company consumed cash from operations of approximately $5.2 million and $30.5 million, respectively. In fiscal 2010, the consumption of $5.2 million of cash was entirely related to an increase in components of working capital. The Company consumed less cash from operations when compared to the prior year due to improved operating performance and working capital management. The Company achieved positive cash flow from operations in two of the last four quarters, including the quarters ended September 30, 2009 and March 31, 2010. In the fourth quarter, we expect the Company s operational performance will improve and cash will be generated through increases in gross margin and improvement in working capital management.As of June 30, 2010, the Company had a consolidated order backlog of approximately $67.6 million, a slight decrease from a $68.0 million order backlog reported as of the end of the preceding quarter. On a segment basis, the quarter-end Photovoltaics order backlog totaled $42.5 million, a $1.2 million, or 3%, increase from $41.3 million reported as of the end of the preceding quarter. The quarter-end Fiber Optics order backlog totaled $25.1 million, a $1.6 million, or 6% decrease from $26.7 million reported as of the end of the preceding quarter. Order backlog is defined as purchase orders or supply agreements accepted by the Company with expected product delivery and/or services to be performed within the next twelve months.
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