Emcore Financials

$122.9 M

Revenue FY, 2017

$127.1 M

Mkt cap, 20-Apr-2018
Gross profit (FY, 2017)42.5 M
Gross profit margin (FY, 2017), %34.6%
Net income (FY, 2017)8.2 M
EBIT (FY, 2017)7.7 M
Cash, 30-Sep-201768.3 M

Revenue/Financials

Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

168.1 m174.8 m81.7 m92 m122.9 m

Revenue growth, %

4%(53%)13%

Cost of goods sold

139.9 m142.1 m53 m61 m80.4 m

Gross profit

28.2 m32.7 m28.7 m31 m42.5 m

Gross profit Margin, %

17%19%35%34%35%

R&D expense

9.9 m12.5 m

Operating expense total

9.9 m34.8 m

Depreciation and amortization

3.8 m

EBIT

220 k(19.1 m)(4.5 m)2.9 m7.7 m

EBIT margin, %

0%(11%)(6%)3%6%

Interest expense

800 k522 k75 k88 k

Interest income

75 k88 k245 k

Pre tax profit

(19.2 m)

Income tax expense

(120 k)24.1 m2.2 m(14 k)(163 k)

Net Income

5 m4.9 m63.1 m8.3 m8.2 m

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Revenue

44.2 m42.2 m44.6 m18.4 m19.1 m21.2 m22.5 m21.5 m22.4 m30.2 m32.6 m31 m

Cost of goods sold

34.1 m35.4 m35.2 m13.2 m12.7 m13.5 m15.1 m14.5 m15 m20.1 m21.6 m20.1 m

Gross profit

10.1 m6.9 m9.4 m5.2 m6.4 m7.7 m7.4 m7 m7.4 m10 m11 m10.8 m

Gross profit Margin, %

23%16%21%28%33%36%33%33%33%33%34%35%

R&D expense

4.4 m5.2 m4.7 m2.2 m2 m2.3 m2.6 m2.6 m2.4 m2.2 m3.1 m3.3 m

Operating expense total

12.4 m12.1 m12.5 m10.2 m8 m6.8 m7.4 m7.4 m5.9 m7.8 m9.3 m8.8 m

EBIT

(2.2 m)(5.2 m)(3.1 m)(5 m)(1.6 m)866 k20 k(367 k)1.5 m2.3 m1.8 m2 m

EBIT margin, %

(5%)(12%)(7%)(27%)(8%)4%0%(2%)7%8%5%6%

Interest expense

126 k117 k134 k130 k165 k4 k17 k23 k

Interest income

165 k4 k23 k

Pre tax profit

(2.1 m)(5.4 m)(3.2 m)

Income tax expense

1.9 m396 k(456 k)(2 k)155 k(175 k)(120 k)8 k(19 k)

Net Income

(2.1 m)(5.4 m)(3.2 m)56.1 m3.1 m2.4 m987 k4 m1.3 m1.8 m1.8 m2.4 m

Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

16.1 m20.7 m111.9 m63.9 m68.3 m

Accounts Receivable

(3.9 m)

Inventories

9.4 m6.9 m5 m24.2 m25.1 m

Current Assets

100.3 m103.9 m151.7 m111.2 m124.7 m

PP&E

49.7 m45 m8.9 m12.2 m16.6 m

Goodwill

20.4 m20.4 m

Total Assets

173.7 m191.3 m160.9 m127.2 m144.1 m

Accounts Payable

19.6 m22.3 m7.2 m10.6 m11.8 m

Short-term debt

Current Liabilities

63.1 m73 m23.7 m18.3 m21.6 m

Long-term debt

Total Liabilities

19.9 m23.3 m

Retained Earnings

(647.6 m)(642.8 m)(579.7 m)(571.4 m)(563 m)

Total Equity

135.4 m107.3 m120.8 m

Financial Leverage

1.2 x1.2 x1.2 x

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

18.1 m18.2 m18.2 m147.6 m141 m114.1 m115.5 m110 m105 m62.2 m68.6 m66.1 m

Inventories

32 m28.5 m27.5 m15.9 m15.5 m17 m14.9 m16.8 m19 m28.2 m26.3 m26.1 m

Current Assets

95.4 m93.3 m97.3 m201.5 m180 m151 m150.2 m151 m150.6 m115.5 m117.8 m121.6 m

PP&E

48.7 m47.2 m46 m8.2 m8 m8.6 m9.7 m10.2 m11 m14 m14.2 m15.7 m

Goodwill

20.4 m20.4 m20.4 m

Total Assets

167.2 m163.4 m166 m219 m203.8 m160 m160.2 m161.6 m166.2 m133.4 m135.7 m140.5 m

Accounts Payable

18 m19 m21.2 m9.4 m6.8 m7 m6.9 m8.2 m9.6 m14.8 m11.7 m13 m

Current Liabilities

60.9 m60.7 m65.5 m46.1 m26.2 m24.7 m21.8 m18 m20.8 m22.1 m20.4 m21.6 m

Total Liabilities

67 m66.7 m71.5 m48.4 m28.3 m26.5 m23.3 m19.5 m22.4 m23.8 m22.1 m23.3 m

Retained Earnings

(649.7 m)(655.1 m)(658.3 m)(586.7 m)(583.6 m)(581.2 m)(578.7 m)(574.7 m)(573.4 m)(569.7 m)(567.8 m)(565.2 m)

Total Equity

133.5 m136.9 m142 m143.8 m109.6 m113.6 m117.2 m

Financial Leverage

1.2 x1.2 x1.1 x1.2 x1.2 x1.2 x1.2 x

Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

5 m4.9 m63.1 m8.3 m8.2 m

Depreciation and Amortization

3.8 m

Accounts Receivable

(3.3 m)3.5 m(1.2 m)(3.9 m)

Inventories

5.5 m(3.4 m)(10.9 m)(140 k)

Accounts Payable

3.1 m(3.2 m)3.2 m2.1 m

Cash From Operating Activities

1 m(3.9 m)(5.6 m)11.7 m

Purchases of PP&E

(3 m)(2.8 m)(5.8 m)(9.6 m)

Cash From Investing Activities

(3.3 m)165.3 m(4.4 m)(9.1 m)

Cash From Financing Activities

6.6 m(70.3 m)(38.3 m)1.3 m

Interest Paid

429 k194 k88 k71 k

Income Taxes Paid

938 k124 k114 k

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Net Income

(2.1 m)(5.4 m)(3.2 m)56.1 m3.1 m2.4 m987 k4 m1.3 m1.8 m1.8 m

Inventories

17 m14.9 m16.8 m19 m28.2 m26.3 m

Accounts Payable

7 m6.9 m8.2 m9.6 m14.8 m11.7 m

Ratios

USDY, 2017

Revenue/Employee

208.7 k

Financial Leverage

1.2 x
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Operating Metrics

FY, 2014FY, 2015FY, 2016

Patents (US)

160 80 70

Patents (foreign)

90 40 35

Patents Pending

200 30 20
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