BOSTON (Thomson Financial) - Shares of Emcore Corp. rose in premarket
trading Monday after the Albuquerque, N.M.-based semiconductor components and
subsystems manufacturer said it received a $28 million contract from ES System
of South Korea for solar cell receivers.
The stock rose 3.8% to $7.50 on volume of 66,000 shares. As of Friday's
$7.22 closing price, the shares had fallen roughly 53% on the year.
Emcore said its agreement with ES System incorporates an advance deposit to
ensure production priority and will enable the installation of 70 megawatts of
solar farms.
Production for the order has commenced and shipments are scheduled to occur
over the next 24 months.
Greg Saulnier
gs/vj
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|