EMCORE Awarded its Largest Contract to Supply Fiber Optic Gyroscopes for Airborne Navigation Systems Applications
July 12 2016 - 8:20AM
EMCORE Corporation (NASDAQ:EMKR), a leading provider of Indium
Phosphide (InP) optical chips, components, subsystems and systems
for the broadband and specialty fiber optics market, announced
today that it has been awarded a $3 million contract to supply
Fiber Optic Gyroscope (FOG) modules to a major U.S. prime
contractor for use in airborne navigation systems applications. The
contract is for FOG modules based on EMCORE’s EMP series that are
expected to be shipped this year with the potential for additional
FOG shipments totaling $15 million over a five-year period.
EMCORE’s FOG modules feature advanced integrated optics and
closed-loop Digital Signal Processing (DSP) electronics to deliver
higher accuracy, lower noise, greater efficiency, improved drift
stability and higher linearity than competing technologies. They
leverage our core Mixed-Signal technology with both analog and
digital circuits combined on multiple chips, or even a single chip.
Mixed-Signal technology is at the heart of all EMCORE products and
requires a specialized expertise which is unique in the optics
industry.
EMCORE FOGs are designed to operate over a broad distance range
with a typical bias drift from .05 to .01 degrees per hour. Bias
drift is an important measure of accuracy and precision of the FOG,
with lower bias models delivering higher performance overall. These
performance specifications are ideal for demanding airborne
navigation systems applications. EMCORE’s FOG technology also has
broad application for land-based and maritime navigation
systems.
“With the advancements in integrated optical packaging and rate
sensor technology in our latest generation of FOGs, EMCORE has been
able to achieve noise values that are two-times lower than the
traditional implementation of FOG technology,” said Dr. K.K. Wong,
Director of Fiber Optic Gyro Products for EMCORE. “This provides us
a price-performance advantage that has enabled us to achieve deeper
penetration into the market for airborne navigation and aeronautic
systems applications,” added Dr. Wong.
“This is a very important contract award for our navigation
sensor business,” commented Jeffrey Rittichier, EMCORE’s President
and CEO. “This is an important validation of our Mixed-Signal
optics strategy, and an application where we expect to see
significant growth potential over the next several years. We are
extremely pleased to win this contract, and to supply our FOG
modules in volume to one of our most valued customers.”
About EMCORE
EMCORE Corporation designs and manufactures Indium Phosphide
(InP) optical chips, components, subsystems and systems for the
broadband and specialty fiber optics market. EMCORE was the pioneer
in linear fiber optic transmission technology, and today is a
leader in optical components, as well as a provider of complete
end-to-end solutions for high-speed communications network
infrastructures, enabling systems and service providers to meet
growing demand for bandwidth and connectivity. EMCORE’s advanced
optical technologies are designed for cable television (CATV) and
fiber-to-the-premise (FTTP) networks, telecommunications and data
centers, satellite communications, aerospace and defense, wireless
networks, and broadcast and professional audio/video systems. With
its world-class InP semiconductor wafer fabrication facility,
EMCORE has fully vertically-integrated manufacturing capability and
also provides contract design, foundry and component packaging
services. EMCORE is headquartered in Alhambra, California, USA with
InP wafer fabrication operations in Alhambra, and ISO 9001
certified manufacturing in Alhambra and Langfang, China. For
further information, 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) 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, 2015, 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
Gyo Shinozaki
Vice President of Marketing
(626) 293-3616
gshinozaki@emcore.com
Media
Joel Counter
Manager, Corporate Marketing Communications
(626) 999-7017
media@emcore.com
Investor
Erica Mannion
Sapphire Investor Relations, LLC
(617) 542-6180
investor@emcore.com
EMCORE (NASDAQ:EMKR)
Historical Stock Chart
From Apr 2024 to May 2024
EMCORE (NASDAQ:EMKR)
Historical Stock Chart
From May 2023 to May 2024