EMCORE Awarded $4.1 Million Supplemental Contract from Raytheon Intelligence & Space for High-Performance Fiber Optic Gyrosco...
July 21 2021 - 9:00AM
EMCORE Corporation (Nasdaq: EMKR), a leading provider of advanced
mixed-signal products that serve the aerospace and defense and
broadband communications markets, announced today that it has been
awarded a $4.1 million supplement to its long-term Fiber Optic
Gyroscope contract with Raytheon Intelligence & Space. Under
the supplemental contract, EMCORE will supply high-performance FOG
modules for use in airborne optical targeting systems. EMCORE has
delivered over 1,200 units of its custom-designed, closed-loop FOGs
to Raytheon Intelligence & Space and expects to deliver the
additional units for this add-on contract through February 2022.
In 2018, EMCORE was awarded a long-term contract
by Raytheon Company valued at more than $18 million for custom,
single-axis tethered FOGs with separate electronics and sensor
modules that 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 aircrafts, unmanned aerial vehicles, and gun
systems.
“This supplemental contract with one of our most
important customers demonstrates the strength of our partnership
with Raytheon Intelligence & Space,” said David Wojciechowski,
vice president of sales, marketing and business development for
EMCORE. “We are extremely pleased to be a supplier to Raytheon for
these unique, high-performance FOGs for their important programs.”
About EMCORE EMCORE Corporation is a leading
provider of advanced mixed-signal products that serve the aerospace
& defense and broadband communications markets. Our
best-in-class components and systems support a broad array of
applications including navigation and inertial sensing, defense
optoelectronics, broadband transport, 5G wireless infrastructure,
optical sensing, and cloud data centers. We leverage
industry-leading Quartz MEMS, Lithium Niobate, and Indium Phosphide
chip-level technology to deliver state-of-the-art component and
system-level products across our end-market applications. EMCORE
has vertically integrated manufacturing capability at its wafer
fabrication facility in Alhambra, CA, and Quartz MEMS manufacturing
facility in Concord, CA. Our manufacturing facilities maintain ISO
9001 quality management certification, and we are AS9100 aerospace
quality certified at our facility in Concord. For further
information about EMCORE, please visit http://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) uncertainties regarding the effects of the COVID-19
pandemic and the impact of measures intended to reduce its spread
on our business and operations, which is evolving and beyond our
control; (b) the rapidly evolving markets for EMCORE's products and
uncertainty regarding the development of these markets; (c)
EMCORE's historical dependence on sales to a limited number of
customers and fluctuations in the mix of products and customers in
any period; (d) delays and other difficulties in commercializing
new products; (e) 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; (f) uncertainties concerning
the availability and cost of commodity materials and specialized
product components that we do not make internally; (g) actions by
competitors; and (h) 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, 2020, 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 Wojciechowski Vice President of Sales,
Marketing and Business Development (626) 293-3715
davewojo@emcore.com
Investor Tom Minichiello Chief
Financial Officer (626) 293-3400 investor@emcore.com
Media Joel Counter Director,
Corporate & Marketing Communications (626) 999-7017
media@emcore.com
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