Emcore Corp. (EMKR), Monday reported a wider net loss for the second quarter compared to the same period last year, hurt by weak performance in two of its segments.
The company posted a net loss of $23.7 million or $0.30 per share for the second quarter, compared to a loss of $17.5 million $0.27 per share in the prior year quarter.
Excluding items, non-GAAP net loss was $14.3 million or $0.18 per share, compared to a loss of $8.7 million or $0.14 per share in the year-ago quarter.
On average, 2 analysts polled by Thomson Reuters expected the company to report a loss of $0.14 per share for the second quarter. Analysts' estimate typically excludes special items.
Revenue for the second quarter declined 23% to $43.3 million from $56.3 million in the same quarter of last year. Three analysts had a consensus revenue estimate of $50.68 million for the second quarter.
On a segment basis, second quarter revenue for the Fiber Optics segment decreased 24% to $28.4 million, while revenue for the Photovoltaics segment slipped 20% to $14.9 million over a year ago.
For the first half of fiscal 2009, the company reported a GAAP net loss of $77.2 million or $0.99 per share, compared to a loss of $31.9 million or $0.55 per share in the previous year period.
On a non-GAAP basis, net loss was $25.5 million or $0.33 per share, compared to a loss of $16.6 million or $0.29 per share incurred in the prior year period.
Revenue for the year-to-date period declined 6% to $97.3 million from $103.2 million in the preceding year period.
EMKR closed Monday's regular trading session at $1.34, down 4 cents or 2.90%.
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