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days, or until March 22, 2011, in which to regain compliance with the minimum bid price rule. To regain compliance, the closing bid price of the Company’s common stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days during this 180-day grace period.
If the Company does not regain compliance before March 22, 2011, the NASDAQ stated that it will provide the Company with written notice that its securities are subject to delisting. At that time, the Company may appeal the NASDAQ’s determination to a NASDAQ Listing Qualifications Panel, which would stay any further delisting action by the NASDAQ pending a final decision by the panel.
Alternatively, the Company may be eligible for an additional grace period if it meets the initial listing standards, with the exception of bid price, for the NASDAQ Capital Market, and the Company successfully applies for a transfer of its securities to that market. Such a transfer would provide the Company with an additional 180 calendar day period to regain compliance with the minimum bid requirement.
The Company actively monitors the price of its common stock and will consider available options, including, but not limited to, a reverse stock split, to regain compliance with the continued listing standards of the NASDAQ.
Emcore Corporation is a provider of compound semiconductor-based components, subsystems and systems for the fiber optics and solar power markets. Emcore’s Photonic Systems segment is the leading developer and manufacturer of fiber- optic systems and components for a wide range of commercial and military applications including microwave fiber-optic signal transmission and processing, satellite earth-stations, fiber-optic gyroscopes, and terahertz sensing.
Emcore’s Fiber Optics segment offers optical components, subsystems and systems that enable the transmission of video, voice and data over high-capacity fiber optic cables for high-speed data and telecommunications, cable television (CATV) and fiber-to-the-premises (FTTP) networks. Emcore’s Solar Power segment provides solar products for satellite and terrestrial applications. For satellite applications, Emcore offers high-efficiency compound semiconductor-based gallium arsenide
(GaAs) solar cells, covered interconnect cells and fully integrated solar panels.
For terrestrial applications, Emcore offers concentrating photovoltaic (CPV) systems for utility scale solar applications as well as offering its high- efficiency GaAs solar cells and CPV components for use in solar power concentrator systems.
GigOptix Increases Third Quarter Revenue Guidance
The firm has increased its revenue guidance for the third quarter 2010 to exceed $7 million and has scheduled a conference call to discuss results on 28 October 2010.
GigOptix, a leading supplier of high performance electronic and electro-optic components that enable next generation 40G and 100G optical networks, has increased its revenue guidance for the third quarter of 2010.
The Company now expects revenue for the third quarter of 2010 to exceed $7.0 million, or an increase of more than 10% sequentially, compared to its previous guidance of approximately $6.6 million to $6.8 million, or an increase of 5 to 8 % sequentially.
“Our stronger than expected third quarter will result in another quarter of record revenue for the Company,” stated Ron Shelton, SVP and CFO of GigOptix. “Our business continues to benefit from increased demand and volume shipments across all of our high-speed optical markets, including increasing shipments of our products for the 40G and 100G markets.”
The firm will hold a conference call to discuss its third quarter 2010 financial results and fourth quarter guidance on Thursday, October 28, 2010 at 2:00 p.m. Access details for the live conference and replay will be published at a later date.
GigOptix offers a broad portfolio of high speed electronic devices including polymer electro-optic modulators, modulator drivers, laser drivers and receiver amplifiers for telecom, datacom, Infiniband and consumer optical systems, covering serial and parallel communication technologies from 1G to
October 2010
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