Emcore cuts Q3 revenue view to $17.0M-$17.5M from $20M-$22M, consensus $21.4M
CEO Jeffrey Rittichier says: "Our chip product sales, and GPON in particular, experienced a significant decline in the third quarter, largely due to additional negative effects of the trade dispute with China. Within the cable TV market, overall MSO capital spend remained soft compared to expectations earlier in the quarter. Demand for our Satcom and inertial navigation products, including the recently acquired Systron Donner operations, remained robust, with demand outpacing supply. Sales of these Aerospace and Defense products continue to meet our growth expectations, while also reducing volatility in demand and improving corporate profitability."