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EMCORE fiscal Q2 loss narrows YOY

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EMCORE fiscal Q2 loss narrows YOY

EMCORE Corp. said its normalized net income for the fiscal second quarter ended March 31 was a loss of $198,130, compared with a loss of $845,000 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to negative 0.9% from negative 4.4% in the year-earlier period.

Total revenue increased 13.0% on an annual basis to $21.5 million from $19.1 million, and total operating expenses rose 6.0% from the prior-year period to $21.9 million from $20.7 million.

Reported net income came to a loss of $162,000, or a loss of 1 cents per share, compared to a loss of $956,000, or a loss of 3 cents per share, in the prior-year period.