The share price of Emcore Corp. has fluctuated in recent weeks.
The Alhambra-based semiconductor manufacturer for the aerospace and defense industries saw its share price decrease by 21% from its close of 52 cents on Dec. 12 – the day it released its fiscal fourth-quarter earnings – to a close of 41 cents the following day on almost 2.2 million shares traded, or its third-highest volume of the past year.
The stock price has since risen to a recent high of 50 cents on Jan. 3, before falling again by 8% by Jan. 5, when it closed at 46 cents..
Overall, shares in the company lost 58% of their value between Jan. 11 of last year, when they closed at $1.19, and Jan. 11 of this year, when they ended trading at 50 cents.
In late June, the company was notified by the Nasdaq that it was out of compliance with its rules because its stock price closed below $1 a share for 30 consecutivedays.
The company is considering options such as a reverse stock split to address the deficiency. Emcore filed for an extension to gain compliance.
Recent earnings
Emcore reported on Dec. 12 an adjusted net loss of $2 million (-3 cents a share) for the quarter ending Sept. 30, compared to an adjusted net loss of $10.9 million (-29 cents) in the same period of the previous year. Revenue increased by nearly 5% from the fourth quarter of the prior year to $26.8 million.
In a conference call on Dec. 12 with analysts to discuss the quarterly results, Emcore Chief Executive Jeff Rittichier said that the company had completed the transformation into a pure-play aerospace and defense business last April.
This evolution of the business involved selling off noncore broadband and defense optoelectronics business segments to San Jose-based Photonics Foundries Inc. in October and signing a letter of intent to sell its indium phosphide wafer fabrication business.
“This agreement is secured with a deposit and also includes an obligation for the buyer to assume the lease obligations of two…
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