Emcore Posts Strong Earnings in All Business Segments

Emcore reported that revenues for the second quarter of fiscal 2006 which ended
March 31, were $41.2 million. This is an increase of 35 percent from the $30.4
million reported in the second quarter of fiscal 2005 and an increase of $1.3
million, or 3%, from the $39.9 million in the previous quarter. According to
the company, all three of its operating segments, Fiber Optics, Photovoltaics
and Electronic Materials and Devices, posted revenue increases year over year.
Sequentially, Fiber Optics and Electronic Materials and Devices showed a slight
revenue increase, while Photovoltaics experienced a marginal revenue decrease
of 4 percent. During the quarter the company received the final earn-out payment
from the sale of the equipment division to Veeco Instruments in 2003. Emcore
also completed the acquisition of K2 Optronics, an optical communication and
laser company, during the quarter. (Ref: Coverage).

Mr. Reuben F. Richards Jr., President & CEO commented,