PRESS RELEASE

EXHIBIT 99.1

EMCORE Corporation Reports Fiscal 2003 Third Quarter and Nine Month Results

Third quarter revenues up 59% year over year and 16% sequentially

SOMERSET, N.J., August 6, 2003 - EMCORE Corporation (Nasdaq: EMKR - news), a
leading provider of semiconductor technologies for global communications
applications, today reported financial results for the fiscal 2003 third quarter
ended June 30, 2003.

Revenues for the third quarter ended June 30, 2003 were $32.2 million, an
increase of 59% from the $20.3 million reported in the third quarter of fiscal
2002 and an increase of 16% from the $27.7 million reported in the second
quarter of fiscal 2003. Revenues for the nine months ended June 30, 2003 were
$83.1 million, an increase of 33% from the $62.5 million reported in the nine
months ended June 30, 2002. For the three-month periods, fiscal 2003
systems-related revenues were $15.2 million, an increase of 53% from $9.9
million reported in fiscal 2002. Fiscal 2003 materials-related revenues were
$17.0 million, an increase of 64% from the $10.4 million reported in fiscal
2002. On a sequential basis, systems-related revenues increased 41% and
materials-related revenues increased 1% from last quarter. Due to higher
material yields, gross margin increased, on a sequential basis, from 10% to 18%.

Operating expenses for the third quarter were $13.2 million, a 17% decline from
the prior year and a 3% increase from the prior quarter. This sequential
increase of 3%, or $0.3 million, was a direct result of the Ortel acquisition in
January of this year. This was the first full quarter that the Company included
Ortel's operating results. Operating loss totaled $7.4 million, down 45% from
the $13.4 million operating loss reported in the prior year and down 27% from
the $10.1 million operating loss reported in the prior quarter. Operating
expenses for the nine months ended June 30, 2003 decreased 69% to $28.7 million
from a year earlier, resulting in an 81% decline in operating loss and a 79%
decrease in net loss.

On a generally accepted accounting principles (GAAP) basis, net loss for the
third quarter of fiscal 2003 was $9.2 million, or $0.25 loss per share, compared
to net loss of $15.9 million, or $0.43 loss per share, in the third quarter of
fiscal 2002. For the nine months ended June 30, 2003, net loss dropped 79%, from
$115.6 million to $24.7 million. Loss per basic and diluted share for the nine
months fell to $0.67 loss per share compared to a loss of $3.17 a share for the
same period in fiscal 2002.

"EMCORE continues to meet the demands of a highly competitive business
environment. The Company has undergone a significant transformation in the past
18 months, and we remain confident that our cost-cutting initiative and
strategic acquisitions will continue to improve operating efficiencies. We are
encouraged by our successes in the optoelectronics markets and are focused on
the rapid introduction of new analog and digital products to meet our customers'
needs." said Reuben F. Richards, Jr., President and CEO of EMCORE Corporation.


Conference Call:

EMCORE will discuss the results further on a conference call to be held
tomorrow, Thursday, August 7, 2003 at 9:00 a.m. EST. To participate, U.S.
callers should dial (888) 896-0863 and international callers should call (973)
582-2703. A replay of the call will be available beginning August 7, 2003 at
11:30 a.m. EST until August 14, 2003 at 11:59 p.m. ET. The U.S. replay call-in
number is (877) 519-4471 and the access code is #3968501. The international
replay number is (973) 341-3080 and the access code is #3968501. The call will
also be web cast via the Company's web site at http://www.emcore.com. Please go
to the site beforehand to download any necessary software.

About EMCORE:

EMCORE Corporation offers a versatile portfolio of compound semiconductor
products for the rapidly expanding broadband and wireless communications and
solid-state lighting markets. The Company's integrated solutions philosophy
embodies state-of-the-art technology, material science expertise and a shared
vision of our customer's goals and objectives to be leaders and pioneers in the
rapidly growing world of compound semiconductors. EMCORE's solutions include:
optical components for high speed data and telecommunications; solar cells and
solar panels for global satellite communications; electronic materials for high
bandwidth communications systems, such as Internet access and wireless
telephones; MOCVD tools for the growth of GaAs, AlGaAs, InP, InGaP, InGaAlP,
InGaAsP, GaN, InGaN, AlGaN, and SiC epitaxial materials used in numerous
applications, including data and telecommunications modules, cellular
telephones, solar cells and high brightness LEDs. For further information about
EMCORE, visit http://www.emcore.com.

The 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 relating to future events that involve risks and
uncertainties. Words such as "expects," "anticipates," "intends," "plans,"
believes," and "estimates," and variations of these words and similar
expressions, identify these forward-looking statements. These forward-looking
statements include, without limitation, (a) statements regarding anticipated
results from EMCORE's recent acquisition of Ortel; (b) any statements or
implications regarding EMCORE's ability to remain competitive and a leader in
its industry, and the future growth of EMCORE, the industry and the economy in
general; (c) statements regarding the expected level and timing of benefits to
EMCORE from its restructuring and realignment efforts, including (i) expected
cost reductions and their impact on EMCORE's financial performance and (ii)
expected improvement to EMCORE's product and technology development programs;
(d) any and all guidance provided by EMCORE regarding its expected financial
performance in current or future periods, including, without limitation, with
respect to anticipated revenues for the fourth quarter of fiscal 2003; and (e)
EMCORE's beliefs regarding the purpose, usefulness and efficacy of non-GAAP
results and the measures and items EMCORE includes in the same, as well as any
benefits to investors EMCORE believes its non-GAAP measures provide. These
forward-looking statements involve risks and uncertainties that could cause
actual results to differ materially from those projected, including without
limitation, the following: (1) difficulties in integrating the Ortel's
operations into EMCORE's operations and the uncertainty as to the results to be
achieved by EMCORE in connection with this acquisition; (2) EMCORE's
restructuring and realignment efforts may not be successful in achieving their
expected benefits, may be insufficient to align EMCORE's operations with
customer demand and the changes affecting our industry, or may be more costly
than currently anticipated; (3) due to the current economic slowdown, in
general, and setbacks in our customers' businesses, in particular, our ability
to predict EMCORE's financial performance for future periods is far more
difficult than in the past; and (4) other risks and uncertainties described in
EMCORE's filings with the Securities and Exchange Commission such as
cancellations, rescheduling or delays in product shipments; manufacturing
capacity constraints; lengthy sales and qualification cycles; difficulties in
the production process; changes in semiconductor industry growth; increased
competition; delays in developing and commercializing new products; and other
factors. The forward-looking statements contained in this news release are made
as of the date hereof and EMCORE does not assume any obligation to update the
reasons why actual results could differ materially from those projected in the
forward-looking statements.