 ALHAMBRA, Calif., Aug. 05, 2020 GLOBE NEWSWIRE -- In a release issued under the same headline earlier today by EMCORE Corporation Nasdaq: EMKR, the Operating Profit table for the three months ended June 30, 2020 in the Reconciliations of GAAP to Non-GAAP Financial Measures tables should have referred to: i Total adjustments of 512,000 rather than 200,000; ii Non-GAAP Operating Profit of 701,000 rather than 1.013 million; iii Non-GAAP Operating Margin of -3 rather than -4; iv Adjusted EBITDA of 328,000 rather than 16,000; and v Adjusted EBITDA of 1 rather than 0. The corrected release follows:EMCORE Reports Fiscal 2020 Third Quarter ResultsEMCORE Corporation Nasdaq: EMKR, a leading provider of advanced mixed-signal products that serve the aerospace defense and broadband communications markets, today announced results for the fiscal 2020 third quarter ended June 30, 2020 3Q20. Management will host a conference call to discuss financial and business results tomorrow, Thursday, August 6, 2020, at 8:00 AM Eastern Time. Consolidated revenue for 3Q20 was 27.3 million, comprised of 14.0 million from the Aerospace Defense segment and 13.3 million from the Broadband segment. Net loss on a GAAP and non-GAAP basis was 1.3 million and 0.7 million, respectively, in 3Q20 compared with a net loss on a GAAP and non-GAAP basis of 5.1 million and 3.8 million, respectively, in 2Q20. Adjusted EBITDA was positive 0.3 million in 3Q20.We saw strong demand in both our Aerospace Defense and Broadband businesses, driving a 14 sequential-quarter revenue increase. Top-line growth and ongoing operational improvements resulted in a seven point improvement in gross margin, led by our QMEMS team, said Jeff Rittichier, Chief Executive Officer of EMCORE. Looking ahead into our September quarter, the demand picture from our CATV and Aerospace Defense customers remains strong, which should allow us to stay on the path of improved operational results despite the global impact of the pandemic, concluded Rittichier.Consolidated Results Three Months Ended Jun 30, 2020Mar 31, 2020 increase 3Q202Q20- decrease Revenue27.3M23.8M3.5M Gross Margin34277 Operating Expenses10.4M11.4M-1.0M Operating Margin-4-2117 Net Income Loss1.3M5.1M3.8M Earnings Loss Per Share0.040.180.14 Non-GAAP Gross Margin 134286 Non-GAAP Operating Expenses 110.1M10.4M-0.3M Non-GAAP Operating Margin 1-3-1613 Non-GAAP Net Income Loss 10.7M 3.8M3.1M Non-GAAP Earnings Loss Per Share 10.030.130.10 Adjusted EBITDA0.3M2.5M2.8M Ending Cash and Cash Equivalents29.7M22.1M7.6M Loan Payable6.5M0.0M6.5M 1 Please refer to the schedules at the end of this press release for complete GAAP to non-GAAP reconciliations and other information related to non-GAAP financial measures Aerospace and Defense AD Segment ADs sequential-quarter revenue increase was driven by higher sales of Quartz MEMS, partially offset by decreased Fiber Optic Gyroscopes revenue. ADs gross margin increase was driven by improved gross margins for Quartz MEMS and Defense Optoelectronics. Three Months Ended Jun 30, 2020Mar 31, 2020 increase 3Q202Q20- decrease AD Segment Revenue14.0M13.0M1.0M AD Segment Gross Margin352213 AD Segment RD Expense3.9M4.0M-0.1M AD Segment Profit1.0M1.1M2.1M Non-GAAP AD Segment Gross Margin 1362313 Non-GAAP AD Segment RD Expense 13.9M3.8M0.1M Non-GAAP AD Segment Profit1.1M0.9M2.0M 1 Please refer to the schedules at the end of this press release for complete GAAP to non-GAAP reconciliations and other information related to non-GAAP financial measures Broadband SegmentBroadbands sequential-quarter revenue increase was primarily driven by higher sales of CATV and Chips. Broadbands gross margin was essentially flat. Three Months Ended Jun 30, 2020Mar 31, 2020 increase 3Q202Q20- decrease Broadband Segment Revenue13.3M10.8M2.5M Broadband Segment Gross Margin3333- Broadband Segment RD Expense0.9M0.6M0.3M Broadband Segment Profit3.5M3.0M0.5M Non-GAAP Broadband Segment Gross Margin 13334-1 Non-GAAP Broadband Segment RD Expense 10.8M0.5M0.3M Non-GAAP Broadband Segment Profit3.6M3.2M0.4M 1 Please refer to the schedules at the end of this press release for complete GAAP to non-GAAP reconciliations and other information related to non-GAAP financial measures Business OutlookThe Company expects revenue for the fiscal fourth quarter ending September 30, 2020 to be in the range of 29 million to 31 million.Conference CallThe Company will discuss its financial results on August 6, 2020 at 8:00 a.m. ET 5:00 a.m. PT. The call will be available by dialing 800-437-2398. For international callers, please dial 1 323-289-6576. The conference passcode number is 8731769. The call will be webcast live via the Companys website at A webcast will be available for replay beginning approximately one hour following the conclusion of the call on the Companys website.About EMCOREEMCORE Corporation is a leading provider of advanced mixed-signal products that serve the aerospace defense and broadband communications markets. Our best-in-class components and systems support a broad array of applications including navigation and inertial sensing, defense optoelectronics, broadband transport, 5G wireless infrastructure, optical sensing, and cloud data centers. We leverage industry-leading Quartz MEMS, Lithium Niobate and Indium Phosphide chip-level technology to deliver state-of-the-art component and system-level products across our end-market applications. EMCORE has vertically-integrated manufacturing capability at its wafer fabrication facility in Alhambra, CA, and quartz MEMS manufacturing facility in Concord, CA. Our manufacturing facilities maintain ISO 9001 quality management certification, and we are AS9100 aerospace quality certified at our facility in Concord. For further information about EMCORE, please visit of Non-GAAP Financial MeasuresThe Company conforms to U.S. Generally Accepted Accounting Principles GAAP in the preparation of its financial statements. We disclose supplemental non-GAAP earnings measures for gross profit margin, operating expenses, operating profit margin, net income, and earnings per share, as well as adjusted EBITDA.Management believes these supplemental non-GAAP measures reflect the Companys core ongoing operating performance and facilitates comparisons across reporting periods. The Company uses these measures when evaluating its financial results and for planning and forecasting of future periods. We believe that these supplemental non-GAAP measures are also useful to investors in assessing our operating performance. While we believe in the usefulness of these supplemental non-GAAP measures, there are limitations. Our non-GAAP measures may not be reported by other companies in our industry andor may not be directly comparable to similarly titled measures of other companies due to potential differences in calculation. We compensate for these limitations by using these non-GAAP measures as a supplement to GAAP and by providing the reconciliations to the most comparable GAAP measure.The schedules at the end of this press release reconcile the Companys non-GAAP measures to the most directly comparable GAAP measure. The adjustments share one or more of the following characteristics: they are unusual and the Company does not expect them to recur in the ordinary course of its business, they do not involve the expenditure of cash, they are unrelated to the ongoing operation of the business in the ordinary course, or their magnitude and timing is largely outside of the Companys control. For all reporting periods disclosed, the Company has applied consistent rationale, method, and adjustments in reconciling non-GAAP measures to the most directly comparable GAAP measure.Non-GAAP measures are not in accordance with or an alternative to GAAP, nor are they meant to be considered in isolation or as a substitute for comparable GAAP measures. Our disclosures of these measures should be read only in conjunction with our financial statements prepared in accordance with GAAP. Non-GAAP measures should not be viewed as a substitute for the Companys GAAP results.Forward-Looking StatementsThe information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 Exchange Act. These forward-looking statements are largely based on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Such forward-looking statements include, in particular, projections about our future results, statements about our plans, strategies, business prospects, changes and trends in our business and the markets in which we operate.These forward-looking statements may be identified by the use of terms and phrases such as anticipates, believes, can, could, estimates, expects, forecasts, intends, may, plans, projects, targets, will, and similar expressions or variations of these terms and similar phrases. Additionally, statements concerning future matters such as the development of new products, enhancements or technologies, sales levels, expense levels and other statements regarding matters that are not historical are forward-looking statements. 