10-Q Filing

EMCORE CORP CIK: 808326 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000808326-18-000004`
Period End Date	20171231
Filing Date	20180206
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	emkr-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 52 Cash Flow Statement 60

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$39.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$22.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$22.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$68.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$64.20M	USD	Point-in-time
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$562.00K	USD	Point-in-time
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$33.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$421.00K	USD	Point-in-time
Accounts receivable, net of allowance of $39 and $22, respectively	`AccountsReceivableNetCurrent`	$22.27M	USD	Point-in-time
Accounts receivable, net of allowance of $39 and $22, respectively	`AccountsReceivableNetCurrent`	$23.13M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.88M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.88M	shares	Point-in-time
Inventory	`InventoryCurrent`	$25.14M	USD	Point-in-time
Inventory	`InventoryCurrent`	$23.40M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$8.46M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$8.53M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$124.69M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$119.22M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$16.64M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$17.16M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	34.06M	shares	Point-in-time
Non-current inventory	`InventoryNoncurrent`	$2.69M	USD	Point-in-time
Non-current inventory	`InventoryNoncurrent`	$2.51M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	33.94M	shares	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$78.00K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$576.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	27.03M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	27.15M	shares	Point-in-time
Total assets	`Assets`	$144.08M	USD	Point-in-time
Total assets	`Assets`	$139.47M	USD	Point-in-time
Treasury stock, shares held (in shares)	`TreasuryStockShares`	6.91M	shares	Point-in-time
Treasury stock, shares held (in shares)	`TreasuryStockShares`	6.91M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.82M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.41M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$9.82M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$9.21M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.64M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.62M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$1.64M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$1.66M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$42.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$29.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$23.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$18.32M	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 5,882 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.0001 par value, 5,882 shares authorized; none issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, no par value, 50,000 shares authorized; 34,062 shares issued and 27,152 shares outstanding as of December 31, 2017; 33,938 shares issued and 27,028 shares outstanding as of September 30, 2017	`CommonStockValue`	$731.11M	USD	Point-in-time
Common stock, no par value, 50,000 shares authorized; 34,062 shares issued and 27,152 shares outstanding as of December 31, 2017; 33,938 shares issued and 27,028 shares outstanding as of September 30, 2017	`CommonStockValue`	$730.91M	USD	Point-in-time
Treasury stock at cost; 6,910 shares	`TreasuryStockValue`	$47.72M	USD	Point-in-time
Treasury stock at cost; 6,910 shares	`TreasuryStockValue`	$47.72M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$814.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$561.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-563.05M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-562.97M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$121.15M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$120.77M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$144.08M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$139.47M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$30.18M	USD	1 Quarter
Revenue	`Revenues`	$24.04M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$20.13M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$16.12M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.91M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.04M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$4.82M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$5.58M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.20M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.80M	USD	1 Quarter
Loss on sale of assets	`GainsLossesOnSalesOfAssets`	$-107.00K	USD	1 Quarter
Loss on sale of assets	`GainsLossesOnSalesOfAssets`	-	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$8.73M	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$7.78M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$2.27M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$-812.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$23.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$111.00K	USD	1 Quarter
Foreign exchange gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-403.00K	USD	1 Quarter
Foreign exchange gain (loss)	`ForeignCurrencyTransactionGainLossBeforeTax`	$286.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-380.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$397.00K	USD	1 Quarter
(Loss) income from continuing operations before income tax benefit (expense)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.89M	USD	1 Quarter
(Loss) income from continuing operations before income tax benefit (expense)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-415.00K	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$120.00K	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-333.00K	USD	1 Quarter
(Loss) income from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-82.00K	USD	1 Quarter
(Loss) income from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$1.77M	USD	1 Quarter
Loss from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTax`	-	USD	1 Quarter
Loss from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-9.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$1.76M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-82.00K	USD	1 Quarter
Foreign exchange translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$-260.00K	USD	1 Quarter
Foreign exchange translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$253.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.50M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$171.00K	USD	1 Quarter
Continuing operations (in usd per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	-	USD	1 Quarter
Continuing operations (in usd per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.07	USD	1 Quarter
Discontinued operations (in usd per share)	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	-	USD	1 Quarter
Discontinued operations (in usd per share)	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	-	USD	1 Quarter
Net income per basic share (in usd per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Net income per basic share (in usd per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Continuing operations (in usd per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.07	USD	1 Quarter
Continuing operations (in usd per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	-	USD	1 Quarter
Discontinued operations (in usd per share)	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Discontinued operations (in usd per share)	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Net income per diluted share (in usd per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net income per diluted share (in usd per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Weighted-average number of basic shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	26.28M	shares	1 Quarter
Weighted-average number of basic shares outstanding (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	27.03M	shares	1 Quarter
Weighted-average number of basic shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.04M	shares	1 Quarter
Weighted-average number of basic shares outstanding (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.03M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$1.76M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-82.00K	USD	1 Quarter
Depreciation and accretion expense	`DepreciationDepletionAndAmortization`	$758.00K	USD	1 Quarter
Depreciation and accretion expense	`DepreciationDepletionAndAmortization`	$1.20M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$772.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$915.00K	USD	1 Quarter
Provision adjustments related to doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Provision adjustments related to doubtful accounts	`ProvisionForDoubtfulAccounts`	$17.00K	USD	1 Quarter
Provision adjustments related to product warranty	`ProductWarrantyExpense`	$58.00K	USD	1 Quarter
Provision adjustments related to product warranty	`ProductWarrantyExpense`	$88.00K	USD	1 Quarter
Net loss on disposal of equipment	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Net loss on disposal of equipment	`GainLossOnDispositionOfAssets`	$-107.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	-	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$132.00K	USD	1 Quarter
Total non-cash adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$2.17M	USD	1 Quarter
Total non-cash adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.62M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$883.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.65M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$4.55M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-2.17M	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-149.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$277.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.82M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.32M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-727.00K	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-495.00K	USD	1 Quarter
Total change in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$2.72M	USD	1 Quarter
Total change in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$4.04M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.96M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$659.00K	USD	1 Quarter
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.24M	USD	1 Quarter
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.88M	USD	1 Quarter
Proceeds from disposal of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$8.00K	USD	1 Quarter
Proceeds from disposal of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.24M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.87M	USD	1 Quarter
Proceeds from stock plans	`ProceedsFromStockPlans`	$16.00K	USD	1 Quarter
Proceeds from stock plans	`ProceedsFromStockPlans`	$104.00K	USD	1 Quarter
Tax withholding paid on behalf of employees for stock-based awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Tax withholding paid on behalf of employees for stock-based awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$724.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-708.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$104.00K	USD	1 Quarter
Effect of exchange rate changes on foreign currency	`EffectOfExchangeRateOnCashAndCashEquivalents`	$352.00K	USD	1 Quarter
Effect of exchange rate changes on foreign currency	`EffectOfExchangeRateOnCashAndCashEquivalents`	$15.00K	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.13M	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.52M	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsAndShortTermInvestments`	$64.23M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsAndShortTermInvestments`	$62.74M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsAndShortTermInvestments`	$64.87M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsAndShortTermInvestments`	$68.75M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsAndShortTermInvestments`	$64.23M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsAndShortTermInvestments`	$62.74M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsAndShortTermInvestments`	$64.87M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsAndShortTermInvestments`	$68.75M	USD	Point-in-time
Cash paid during the period for interest	`InterestPaid`	$16.00K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaid`	$20.00K	USD	1 Quarter
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$33.00K	USD	1 Quarter
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$2.00K	USD	1 Quarter
Changes in accounts payable related to purchases of equipment	`IncreaseDecreaseInAccountsPayableRelatedToPropertyAndEquipmentPurchases`	$-455.00K	USD	1 Quarter
Changes in accounts payable related to purchases of equipment	`IncreaseDecreaseInAccountsPayableRelatedToPropertyAndEquipmentPurchases`	$-176.00K	USD	1 Quarter

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