8-K/A: Current report filing
Published on February 24, 2000
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) January 11, 2000
EMCORE CORPORATION
(Exact name of registrant as specified in charter)
New Jersey 0-22175 22-2746503
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State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation
394 Elizabeth Avenue, Somerset, New Jersey 08873
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(Address of principal offices) (Zip Code)
Registrant's telephone number including area code (732) 271-9090
(Former name or former address, if changed since last report) NOT APPLICABLE
Item 5. OTHER EVENTS
RECENT DEVELOPMENTS
In January 2000, we signed a Memorandum of Understanding with JDS Uniphase
Corporation ("JDS"). Under this Memorandum of Understanding, we and JDS will,
upon execution of a final agreement, jointly develop, manufacture and market a
family of fiberoptic array transceivers based on our laser technology that
facilitate light to logic (electronic signal in/modulated light signal out) for
fiberoptic communications solutions used in switches, routers and computer
backplanes. We will manufacture VSCEL arrays and design gigabit speed control
circuits, photodetectors, optical links and other components. JDS will design
and develop the optical packaging for the products and handle all marketing and
worldwide sales and distribution. We intend that the initial product jointly
developed and commercialized in our alliance with JDS will be an array
transceiver with twelve channels each operating at 1.25 Gigabits/second,
yielding a compact, high speed data link. These products are designed to make
possible short distance links between dense wavelength division multiplexing
systems (DWDM), high speed routers and SONET (long-haul telecommunications)
equipment.
It is expected that JDS will place an initial purchase order upon the
signing of the agreement. The terms and conditions of delivery will be finalized
upon completion of development of the product. We expect to begin shipping
samples of an array transceiver by the second calendar quarter.
In January 2000, we entered into a three-year supply agreement with Agilent
Technologies, Inc. ("Agilent"), a leading supplier of fiberoptic transceivers
and integrated circuits for infrastructure products for the Internet. Under this
agreement, we will manufacture Gigarray(R) VCSEL arrays for use in parallel
optical transceivers. The initial purchase order under the agreement is
contingent upon our development of a component that meets Agilent's
specifications. We expect to begin shipping sample products in June 2000 with
full commercial shipments commencing by year end.
Our stock price has fluctuated widely in the last year and may fluctuate
widely in the future. Since January 1, 1999, our stock price has been as high as
$173 per share and as low as $12 per share. Since our announcement on February
16, 2000 of our Memorandum of Understanding with JDS and the three year supply
agreement with Agilent, our stock price has increased from $76.8125 per share at
the close on February 15, 2000 to a close of $161.8125 per share on February 23,
2000. If we fail to execute the definitive agreement contemplated by the
Memorandum of Understanding, we are unable to successfully design or manufacture
the new products, or the products to be developed with JDS or Agilent have
difficulty penetrating targeted markets, our stock price could be adversely
affected. Additionally, volatility in the price of our common stock may be
caused by other factors outside of our control and may be unrelated or
disproportionate to our operating results.
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
EMCORE CORPORATION
(Registrant)
By: /s/ Thomas G. Werthan
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Thomas G. Werthan
Chief Financial Officer
Dated: February 24, 2000
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