EMKR - EMCORE dips 6.7% despite posting FQ4 beat

EMCORE (EMKR -6.6%) reports FQ4 consolidated revenue at $44M, up 31.2% Y/Y beats consensus by $0.83M. Revenue comprised of $11.7M from the Aerospace and Defense segment and $32.2M from the Broadband segment. Net income was $5.1M and $6.8M on a GAAP and non-GAAP basis, respectively. Adjusted EBITDA was $7.8M. GAAP EPS of $0.17 beats consensus by $0.01. “We delivered record-setting financial performance in the fiscal fourth quarter and for the full fiscal year 2021 despite headwinds from semiconductor shortages and supply chain problems. Strong demand from our Broadband customers and solid execution by the Emcore operating team combined to showcase the operating leverage in our business. For FY21, revenue was up 44%, gross margin expanded to 39%, and net income was 16% of revenue,” said CEO, Jeff Rittichier. Contributor gives bullish comments on the stock: 'Emcore Corporation May Be About To Regain Its Footing' The stock has a market cap of ~278.1M and has

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EMCORE dips 6.7% despite posting FQ4 beat