10-Q Filing

EMCORE CORP CIK: 808326 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0000808326-14-000005`
Period End Date	20131231
Filing Date	20140205
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	emkr-20131231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 44 Cash Flow Statement 72

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.36M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$434.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.10M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableNoncurrent`	$3.58M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$815.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$552.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableNoncurrent`	$3.53M	USD	Point-in-time
Accounts receivable, net of allowance of $434 and $3,363, respectively	`AccountsReceivableNetCurrent`	$41.83M	USD	Point-in-time
Accounts receivable, net of allowance of $434 and $3,363, respectively	`AccountsReceivableNetCurrent`	$35.92M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$32.12M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$32.03M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$9.44M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.88M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.88M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$8.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$95.39M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$100.30M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$48.68M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$49.74M	USD	Point-in-time
Goodwill	`Goodwill`	$20.38M	USD	Point-in-time
Goodwill	`Goodwill`	$20.38M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.16M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.91M	USD	Point-in-time
Other non-current assets, net of allowance of $3,575 and $3,533, respectively	`OtherAssetsNoncurrent`	$885.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.02M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.22M	shares	Point-in-time
Other non-current assets, net of allowance of $3,575 and $3,533, respectively	`OtherAssetsNoncurrent`	$1.13M	USD	Point-in-time
Total assets	`Assets`	$167.24M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	29.98M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	30.18M	shares	Point-in-time
Total assets	`Assets`	$173.71M	USD	Point-in-time
Treasury stock, shares held	`TreasuryStockShares`	40,000.00	shares	Point-in-time
Treasury stock, shares held	`TreasuryStockShares`	40,000.00	shares	Point-in-time
Borrowings from credit facility	`LinesOfCreditCurrent`	$21.71M	USD	Point-in-time
Borrowings from credit facility	`LinesOfCreditCurrent`	$17.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$19.64M	USD	Point-in-time
Deferred gain associated with sale of assets	`DeferredGainOnSaleOfAssets`	-	USD	Point-in-time
Deferred gain associated with sale of assets	`DeferredGainOnSaleOfAssets`	$3.40M	USD	Point-in-time
Warrant liability	`DerivativeLiabilitiesCurrent`	$233.00K	USD	Point-in-time
Warrant liability	`DerivativeLiabilitiesCurrent`	$155.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$22.08M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$21.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$63.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$60.91M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$5.11M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$5.05M	USD	Point-in-time
Deferred gain associated with sale of assets	`DeferredGainOnSaleOfAssetsLongTerm`	$3.40M	USD	Point-in-time
Deferred gain associated with sale of assets	`DeferredGainOnSaleOfAssetsLongTerm`	-	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$981.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$937.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$72.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$66.95M	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 5,882 shares authorized; none issued or outstanding	`PreferredStockValueOutstanding`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 5,882 shares authorized; none issued or outstanding	`PreferredStockValueOutstanding`	-	USD	Point-in-time
Common stock, no par value, 50,000 shares authorized; 30,220 shares issued and 30,180 shares outstanding as of December 31, 2013; 30,022 shares issued and 29,982 shares outstanding as of September 30, 2013	`CommonStockValueOutstanding`	$749.27M	USD	Point-in-time
Common stock, no par value, 50,000 shares authorized; 30,220 shares issued and 30,180 shares outstanding as of December 31, 2013; 30,022 shares issued and 29,982 shares outstanding as of September 30, 2013	`CommonStockValueOutstanding`	$750.39M	USD	Point-in-time
Treasury stock, at cost; 40 shares	`TreasuryStockValue`	$2.07M	USD	Point-in-time
Treasury stock, at cost; 40 shares	`TreasuryStockValue`	$2.07M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.67M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$1.62M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-647.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-649.69M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$100.29M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$101.18M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$173.71M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$167.24M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$49.31M	USD	1 Quarter
Revenue	`Revenues`	$44.21M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$34.08M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$38.36M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.13M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.95M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$7.97M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$6.90M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$5.39M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$4.40M	USD	1 Quarter
Flood-related insurance proceeds	`InsuranceRecoveries`	$4.19M	USD	1 Quarter
Flood-related insurance proceeds	`InsuranceRecoveries`	-	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$12.38M	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$8.10M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$2.85M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$-2.24M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-238.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-126.00K	USD	1 Quarter
Foreign exchange gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$101.00K	USD	1 Quarter
Foreign exchange gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$100.00K	USD	1 Quarter
Gain on sale of investment	`GainLossOnInvestments`	-	USD	1 Quarter
Gain on sale of investment	`GainLossOnInvestments`	$290.00K	USD	1 Quarter
Change in fair value of financial instruments	`UnrealizedGainLossOnDerivatives`	$237.00K	USD	1 Quarter
Change in fair value of financial instruments	`UnrealizedGainLossOnDerivatives`	$-78.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$186.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$100.00K	USD	1 Quarter
(Loss) income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.05M	USD	1 Quarter
(Loss) income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.95M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$120.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$2.83M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-2.05M	USD	1 Quarter
Foreign exchange translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$69.00K	USD	1 Quarter
Foreign exchange translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$45.00K	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-2.01M	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$2.90M	USD	1 Quarter
Net (loss) income per basic share (in dollars per share)	`EarningsPerShareBasic`	$-0.07	USD	1 Quarter
Net (loss) income per basic share (in dollars per share)	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Net (loss) income per diluted share (in dollars per share)	`EarningsPerShareDiluted`	$-0.07	USD	1 Quarter
Net (loss) income per diluted share (in dollars per share)	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Weighted-average number of basic shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	25.98M	shares	1 Quarter
Weighted-average number of basic shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	29.94M	shares	1 Quarter
Weighted-average number of diluted shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.24M	shares	1 Quarter
Weighted-average number of diluted shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.94M	shares	1 Quarter

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$2.83M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-2.05M	USD	1 Quarter
Depreciation, amortization, and accretion expense	`DepreciationDepletionAndAmortization`	$2.02M	USD	1 Quarter
Depreciation, amortization, and accretion expense	`DepreciationDepletionAndAmortization`	$2.07M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.14M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.08M	USD	1 Quarter
Gain on sale of an investment	`GainLossOnInvestments`	-	USD	1 Quarter
Gain on sale of an investment	`GainLossOnInvestments`	$290.00K	USD	1 Quarter
Provision adjustments related to doubtful accounts	`AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease`	-	USD	1 Quarter
Provision adjustments related to doubtful accounts	`AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease`	$-35.00K	USD	1 Quarter
Provision adjustments related to product warranty	`ProductWarrantyExpense`	$265.00K	USD	1 Quarter
Provision adjustments related to product warranty	`ProductWarrantyExpense`	$629.00K	USD	1 Quarter
Change in fair value of financial instruments	`UnrealizedGainLossOnDerivatives`	$237.00K	USD	1 Quarter
Change in fair value of financial instruments	`UnrealizedGainLossOnDerivatives`	$-78.00K	USD	1 Quarter
Non-cash insurance proceeds	`InsuranceProceedsFromEquipment`	-	USD	1 Quarter
Non-cash insurance proceeds	`InsuranceProceedsFromEquipment`	$4.19M	USD	1 Quarter
Total non-cash adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$3.22M	USD	1 Quarter
Total non-cash adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-700.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.95M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-180.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$2.13M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-135.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-981.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-3.20M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-6.58M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.65M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$144.00K	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.31M	USD	1 Quarter
Total change in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$6.64M	USD	1 Quarter
Total change in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-5.56M	USD	1 Quarter
Net cash provided from (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.72M	USD	1 Quarter
Net cash provided from (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.52M	USD	1 Quarter
Cash proceeds from sale of investment	`GainLossOnSaleOfInvestments`	$-290.00K	USD	1 Quarter
Cash proceeds from sale of investment	`GainLossOnSaleOfInvestments`	-	USD	1 Quarter
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$684.00K	USD	1 Quarter
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.03M	USD	1 Quarter
Deposits on equipment orders	`PaymentsForDeposits`	$3.00K	USD	1 Quarter
Deposits on equipment orders	`PaymentsForDeposits`	-	USD	1 Quarter
Decrease (increase) in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-262.00K	USD	1 Quarter
Decrease (increase) in restricted cash	`IncreaseDecreaseInRestrictedCash`	$945.00K	USD	1 Quarter
Proceeds from disposal of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds from disposal of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$203.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-132.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.77M	USD	1 Quarter
Net (payments) proceeds from borrowings from credit facilities	`ProceedsFromRepaymentsOfLinesOfCredit`	$611.00K	USD	1 Quarter
Net (payments) proceeds from borrowings from credit facilities	`ProceedsFromRepaymentsOfLinesOfCredit`	$-4.51M	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	$9.47M	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	1 Quarter
Proceeds from stock plans	`ProceedsFromStockPlans`	$10.00K	USD	1 Quarter
Proceeds from stock plans	`ProceedsFromStockPlans`	$14.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.10M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.49M	USD	1 Quarter
Effect of exchange rate changes on foreign currency	`EffectOfExchangeRateOnCashAndCashEquivalents`	$34.00K	USD	1 Quarter
Effect of exchange rate changes on foreign currency	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-61.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.84M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.04M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.05M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.14M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.88M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.10M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.05M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.14M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.88M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.10M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$196.00K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaid`	$112.00K	USD	1 Quarter
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$15.00K	USD	1 Quarter
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$4.00K	USD	1 Quarter
Forgiveness of capital lease and accounts payable	`CapitalLeaseAndAccountsPayableDecreaseForgiveness`	$4.19M	USD	1 Quarter
Forgiveness of capital lease and accounts payable	`CapitalLeaseAndAccountsPayableDecreaseForgiveness`	-	USD	1 Quarter
Acquisition of equipment under capital lease	`CapitalLeaseObligationsIncurred`	-	USD	1 Quarter
Acquisition of equipment under capital lease	`CapitalLeaseObligationsIncurred`	$257.00K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.