EMCORE Awarded Long-Term Contract by Raytheon to Supply High-Performance Fiber Optic Gyroscopes for Optical Targeting Systems...
September 17 2018 - 09:20AM
EMCORE Corporation (NASDAQ: EMKR), a leading provider of advanced
Mixed-Signal Optics products that provide the foundation for
today’s high-speed communication network infrastructures and
leading-edge defense systems, announced today that it has been
awarded a long-term contract valued at over $18 million over a
4-year period to supply high-performance Fiber Optic Gyroscope
(FOG) modules to Raytheon for use in airborne optical targeting
systems. EMCORE has previously delivered over 1,000 units of its
custom designed, closed-loop, single-axis FOGs to Raytheon and will
ship additional units this year and over the remaining term of the
agreement.
The FOG modules to be delivered are EMCORE’s tethered gyros with
separate electronics and sensor modules to accommodate the widest
variety of installation parameters. The performance specifications
of these FOGs are ideal for platform stabilization in camera
systems used for optical targeting in aircraft, Unmanned Aerial
Vehicles (UAVs) and gun systems.
“With our latest advancements in integrated FOG optics and
electronics, EMCORE has been able to achieve cost and performance
standards that meet the demanding requirements of our most
important customers,” said David Faulkner, EMCORE’s Vice President
and General Manager of Aerospace & Defense. “We are extremely
pleased to be awarded this contract by Raytheon to supply our
latest generation, high-performance FOGs for their important
programs,” added Mr. Faulkner.
About EMCOREEMCORE Corporation is a leading
provider of advanced Mixed-Signal Optics products that provide the
foundation for today’s high-speed communication network
infrastructures and leading-edge defense systems. Our optical
chips, components, subsystems and systems enable broadband and
wireless providers to continually enhance their network capacity,
speed and coverage to advance the free flow of information that
empowers the lives of millions of people daily. The Mixed-Signal
Optics technology at the heart of our broadband transmission
products is shared with our fiber optic gyros and military
communications links to provide the aerospace and defense markets
state-of-the-art systems that keep us safe in an increasingly
unpredictable world. EMCORE’s performance-leading optical
components and systems serve a broad array of applications
including cable television, fiber-to-the-premise networks,
telecommunications, data centers, wireless infrastructure,
satellite RF fiber links, navigation systems and military
communications. EMCORE has fully vertically-integrated
manufacturing capability through its world-class Indium Phosphide
(InP) wafer fabrication facility at our headquarters in Alhambra,
California, and is ISO 9001 certified in Alhambra and at our
facility in Beijing, China. For more information, please visit
www.emcore.com.
Forward-looking statements:
The information provided herein may include forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934, as
amended. Such statements include statements regarding EMCORE's
plans, strategies, business prospects, growth opportunities,
changes and trends in our business and expansion into new markets.
These forward-looking statements are based on management's current
expectations, estimates, forecasts and projections about EMCORE and
are subject to risks and uncertainties that could cause actual
results and events to differ materially from those stated in the
forward-looking statements, including without limitation, the
following: (a) the rapidly evolving markets for EMCORE's products
and uncertainty regarding the development of these markets; (b)
EMCORE's historical dependence on sales to a limited number of
customers and fluctuations in the mix of products and customers in
any period; (c) delays and other difficulties in commercializing
new products; (d) the failure of new products: (i) to perform as
expected without material defects, (ii) to be manufactured at
acceptable volumes, yields, and cost, (iii) to be qualified and
accepted by our customers, and (iv) to successfully compete with
products offered by our competitors; (e) uncertainties concerning
the availability and cost of commodity materials and specialized
product components that we do not make internally; (f) actions by
competitors; and (g) other risks and uncertainties discussed under
Item 1A - Risk Factors in our Annual Report on Form 10-K for the
fiscal year ended September 30, 2017, as updated by our subsequent
periodic reports. Forward-looking statements contained in this
press release are made only as of the date hereof, and EMCORE
undertakes no obligation to update or revise the forward-looking
statements, whether as a result of new information, future events
or otherwise.
Contact: EMCORE Corporation
David Faulkner Vice President & General Manager, Navigation and
Defense Products (626) 293-3698David_Faulkner@emcore.com
MediaJoel CounterManager, Corporate &
Marketing Communications(626) 999-7017media@emcore.com
Investor
Erica MannionSapphire Investor Relations, LLC (617) 542-6180
investor@emcore.com
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