financial news ♦ compound semiconductor ♦ news digest
includes share-based compensation of $1.5 million. Overall, cash expenses were reduced significantly during the second quarter of 2010 as compared with 2009 with the implementation of cost savings measures including a reduction in workforce in order to preserve cash while focusing our resources on the development of core CIGS technology and fundraising efforts to secure strategic partners and commercialize its products.
The per share losses were calculated on the weighted average common shares outstanding of 4.1 and 3.7 million for the second quarter ended June 30, 2010 and 2009, respectively.
The company says average shares outstanding and loss per share for the quarter ended June 30, 2010 and 2009 reflect the 1-for-9 reverse stock split implemented on May 11, 2010. DayStar’s common stock began trading on the NASDAQ Capital Market on a split adjusted basis on May 12, 2010.
Finisar to Present at Investor Conferences
The firm will present in New York, Boston and San Francisco between 7th and 15th September 2010.
Company management from Finisar Corporation, a global technology leader in high-speed optical communications, will speak at three upcoming investor conferences.
The conferences include Citigroup’s 17th Annual Global Technology Conference to be held in New York on September 7th; the 2010 Credit Suisse Small and Mid Cap Conference to be held in Boston, MA on Tuesday, September 14th, and the 2010 Deutsche Bank Technology Conference to be held in San Francisco on Wednesday, September 15.
All events can be viewed by connecting to the Company’s website at
www.finisar.com . An archive of the presentation will be available following the live event.
2010 Citi Technology Conference
Presenter: Eitan Gertel, CEO Date: Tuesday, September 7, 2010 Time: 2:10pm EDT
Location: New York Marriott Marquis
2010 Credit Suisse Small and Mid Cap Conference Presenter: Jerry Rawls, Executive Chairman and Eitan Gertel, CEO Date: Tuesday, September 14, 2010 Time: 3:30pm EDT
Location: Boston Harbor Hotel
2010 Deutsche Bank Technology Conference Presenter: Jerry Rawls, Executive Chairman Date: Wednesday, September 15, 2010 Time: 8:05am EDT
Location: San Francisco Westin Hotel Emcore Delays Q3 FY 2010 Financial Release
The firm is currently reviewing the accounting for certain inventory write-downs and the allowance against a specific account. For Q4 FY 2010 ending September 30, 2010, the Company expects consolidated revenue to be in the range of $54 to $56 million.
Emcore Corporation, a global provider of compound semiconductor-based components, subsystems and systems for the fiber optics and solar power markets, is delaying its earnings release for the latest quarter. The company said it still needs to complete the compilation and review its financial statements. This will result in a delay in filing its Quarterly Report on Form 10-Q for the period ended June 30, 2010.
Emcore says it is currently reviewing the accounting for certain inventory write-downs and the allowance against a specific account receivable that it has determined should be recorded. The firm is considering the effect and significance of these adjustments with respect to prior periods reported.
These issues must be completed in order for Emcore to be in a position to file its quarterly report. In addition, during the quarter, Emcore has identified material weaknesses in connection with controls for inventory write-downs and controls for revenue cutoff on transactions in the June 30, 2010 quarter. The company intends to file its quarterly report as soon as reasonably practicable.
For the fourth quarter of fiscal 2010 ending August/September 2010
www.compoundsemiconductor.net 189
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