EMKR - EMCORE Non-GAAP EPS of $0.14 misses by $0.03 revenue of $42.24M beats by $0.08M

EMCORE press release (NASDAQ:EMKR): FQ1 Non-GAAP EPS of $0.14 misses by $0.03. Revenue of $42.24M (+26.4% Y/Y) beats by $0.08M. “We delivered another quarter of strong financial performance, including a non-GAAP operating margin of 13% and an increase in cash of $4.3 million. Our 1Q22 results were driven largely by the continued demand from our Broadband customers and solid execution by the EMCORE team, while our Aerospace & Defense business reflected the ongoing challenges associated with the global pandemic and supply chain disruption,” said Jeff Rittichier, President and Chief Executive Officer of EMCORE. “In A&D, EMCORE was awarded the final pre-production contract for an airborne pod IMU and expects to see that program go to production next year. We continue to experience a high level of demand for our Navigation offerings and are highly focused on meeting our growth objectives in Aerospace and Defense.”

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EMCORE Non-GAAP EPS of $0.14 misses by $0.03, revenue of $42.24M beats by $0.08M