10-Q Filing

EMCORE CORP CIK: 808326 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0000808326-19-000007`
Period End Date	20181231
Filing Date	20190206
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	emkr-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 36 Cash Flow Statement 60

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$548.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$322.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$57.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$63.12M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$11.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$33.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$78.00K	USD	Point-in-time
Accounts receivable, net of allowance of $322 and $548, respectively	`AccountsReceivableNetCurrent`	$18.36M	USD	Point-in-time
Accounts receivable, net of allowance of $322 and $548, respectively	`AccountsReceivableNetCurrent`	$19.27M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	34.49M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	34.58M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	27.58M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	27.67M	shares	Point-in-time
Inventory	`InventoryCurrent`	$20.47M	USD	Point-in-time
Inventory	`InventoryCurrent`	$20.85M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.25M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.73M	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
Total current assets	`AssetsCurrent`	$116.05M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$109.37M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$19.09M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$18.22M	USD	Point-in-time
Non-current inventory	`InventoryNoncurrent`	$1.42M	USD	Point-in-time
Non-current inventory	`InventoryNoncurrent`	$1.43M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$114.00K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$199.00K	USD	Point-in-time
Total assets	`Assets`	$129.99M	USD	Point-in-time
Total assets	`Assets`	$135.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.52M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$16.01M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$14.21M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$26.52M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$27.20M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$1.82M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$1.81M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$89.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$82.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$29.09M	USD	Point-in-time
Total liabilities	`Liabilities`	$28.43M	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, no par value, 50,000 shares authorized; 34,578 shares issued and 27,668 shares outstanding as of December 31, 2018; 34,487 shares issued and 27,577 shares outstanding as of September 30, 2018	`CommonStockValue`	$734.34M	USD	Point-in-time
Common stock, no par value, 50,000 shares authorized; 34,578 shares issued and 27,668 shares outstanding as of December 31, 2018; 34,487 shares issued and 27,577 shares outstanding as of September 30, 2018	`CommonStockValue`	$734.07M	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	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$899.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$885.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-580.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-585.96M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$101.56M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$106.81M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$135.90M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$129.99M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$24.00M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$24.04M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$18.19M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$16.12M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.81M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.91M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$4.82M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$7.59M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$3.80M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$4.02M	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`	$11.61M	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$8.73M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-5.80M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-812.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$111.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$267.00K	USD	1 Quarter
Foreign exchange gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$286.00K	USD	1 Quarter
Foreign exchange gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$14.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$281.00K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$397.00K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-415.00K	USD	1 Quarter
Loss before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.52M	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$15.00K	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$-333.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.54M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-82.00K	USD	1 Quarter
Foreign exchange translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$14.00K	USD	1 Quarter
Foreign exchange translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent`	$253.00K	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$171.00K	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-5.52M	USD	1 Quarter
Net loss per basic share (in usd per share)	`EarningsPerShareBasic`	$-0.20	USD	1 Quarter
Net loss per basic share (in usd per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Weighted-average number of basic and diluted shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	27.03M	shares	1 Quarter
Weighted-average number of basic and diluted shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	27.53M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.54M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-82.00K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$1.59M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$1.20M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$915.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$425.00K	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`	$56.00K	USD	1 Quarter
Net loss on disposal of equipment	`GainLossOnDispositionOfAssets`	$-107.00K	USD	1 Quarter
Net loss on disposal of equipment	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-28.00K	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`	$2.10M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-911.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$883.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-392.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-2.17M	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$277.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$436.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.06M	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`	$1.76M	USD	1 Quarter
Total change in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-566.00K	USD	1 Quarter
Total change in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$4.04M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.87M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.96M	USD	1 Quarter
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.88M	USD	1 Quarter
Purchase of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.88M	USD	1 Quarter
Proceeds from disposal of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds from disposal of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$8.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.88M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.87M	USD	1 Quarter
Proceeds from stock plans	`ProceedsFromStockPlans`	-	USD	1 Quarter
Proceeds from stock plans	`ProceedsFromStockPlans`	$16.00K	USD	1 Quarter
Tax withholding paid on behalf of employees for stock-based awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$724.00K	USD	1 Quarter
Tax withholding paid on behalf of employees for stock-based awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$150.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-708.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-150.00K	USD	1 Quarter
Effect of exchange rate changes on foreign currency	`EffectOfExchangeRateOnCashAndCashEquivalents`	$15.00K	USD	1 Quarter
Effect of exchange rate changes on foreign currency	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-3.00K	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.52M	USD	1 Quarter
Net decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.90M	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsAndShortTermInvestments`	$57.30M	USD	Point-in-time
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`	$63.20M	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`	$57.30M	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`	$63.20M	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	`InterestPaidNet`	$25.00K	USD	1 Quarter
Cash paid during the period for interest	`InterestPaidNet`	$16.00K	USD	1 Quarter
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$2.00K	USD	1 Quarter
Cash paid during the period for income taxes	`IncomeTaxesPaid`	$33.00K	USD	1 Quarter
Changes in accounts payable related to purchases of equipment	`IncreaseDecreaseInAccountsPayableRelatedToPropertyAndEquipmentPurchases`	$-176.00K	USD	1 Quarter
Changes in accounts payable related to purchases of equipment	`IncreaseDecreaseInAccountsPayableRelatedToPropertyAndEquipmentPurchases`	$-410.00K	USD	1 Quarter

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