EMCORE CORPORATION

Quarterly Consolidated Statements of Operations

For the Fiscal Year Ended September 30, 2016

(in thousands, except (loss) income per share) (unaudited)



	For the Three Months Ended
	December 31,			March 31,			June 30,			September 30,
	2015			2016			2016			2016
Revenue	$	22,490		$	21,532		$	22,376		$	25,600
Cost of revenue	15,089			14,510			14,964			16,481
Gross profit	7,401			7,022			7,412			9,119
Operating expense (income):
Selling, general, and administrative	4,821			4,825			6,125			4,963
Research and development	2,560			2,564			2,405			2,392
Recovery of previously incurred litigation related fees and expenses from arbitration award	—			—			(2,599		)	—
Gain on sale of assets	—			—			(41		)	—
Total operating expense	7,381			7,389			5,890			7,355
Operating income (loss)	20			(367		)	1,522			1,764
Other income (expense):
Interest (expense) income, net	(17		)	25			32			48
Foreign exchange (loss) gain	(135		)	25			(201		)	(83		)
Total other (expense) income	(152		)	50			(169		)	(35		)
(Loss) income from continuing operations before income tax benefit (expense)	(132		)	(317		)	1,353			1,729
Income tax (expense) benefit	(2		)	155			(175		)	8
(Loss) income from continuing operations	(134		)	(162		)	1,178			1,737
Income from discontinued operations, net of tax	1,121			4,144			123			259
Net income	$	987		$	3,982		$	1,301		$	1,996
Per share data:
Net income (loss) per basic share:
Continuing operations	$	0.00		$	(0.01	)	$	0.05		$	0.07
Discontinued operations	0.04			0.16			—			0.01
Net income per basic share	$	0.04		$	0.15		$	0.05		$	0.08
Net income (loss) per diluted share:
Continuing operations	$	0.00		$	(0.01	)	$	0.05		$	0.06
Discontinued operations	0.04			0.16			—			0.01
Net income per diluted share	$	0.04		$	0.15		$	0.05		$	0.07
Weighted-average number of basic shares outstanding	25,697			25,942			26,103			26,177
Weighted-average number of diluted shares outstanding	25,697			25,942			26,269			26,674

EMCORE CORPORATION

Quarterly Consolidated Statements of Operations

For the Fiscal Year Ended September 30, 2015

(in thousands, except (loss) income per share)

(unaudited)



	For the Three Months Ended
	December 31,			March 31,			June 30,			September 30,
	2014			2015			2015			2015
Revenue	$	18,416		$	19,057		$	21,194		$	23,018
Cost of revenue	13,237			12,678			13,511			13,568
Gross profit	5,179			6,379			7,683			9,450
Operating expense (income):
Selling, general, and administrative	8,627			5,954			4,543			5,587
Research and development	2,174			2,022			2,274			2,649
Gain from change in estimate on ARO obligation	(845		)	—			—			—
Loss on sale of assets	228			—			—			—
Total operating expense	10,184			7,976			6,817			8,236
Operating loss	(5,005		)	(1,597		)	866			1,214
Other income (expense):
Interest expense, net	(130		)	165			4			36
Foreign exchange gain (loss)	57			(6		)	50			(239		)
Change in fair value of financial instruments	36			86			—			—
Total other income (expense)	(37		)	245			54			(203		)
Loss from continuing operations before income tax benefit (expense)	(5,042		)	(1,352		)	920			1,011
Income tax benefit (expense)	1,912			396			(456		)	339
(Loss) income from continuing operations	(3,130		)	(956		)	464			1,350
Income from discontinued operations, net of tax	$	59,258		$	4,008		$	1,976		$	130
Net income	$	56,128		$	3,052		$	2,440		$	1,480
Per share data:
Net (loss) income per basic share:
Continuing operations	$	(0.10	)	$	(0.03	)	$	0.02		$	0.05
Discontinued operations	1.90			0.13			0.06			0.01
Net (loss) income per basic share	$	1.80		$	0.10		$	0.08		$	0.06
Net (loss) income per diluted share:
Continuing operations	$	(0.10	)	$	(0.03	)	$	0.02		$	0.05
Discontinued operations	1.90			0.13			0.06			0.01
Net (loss) income per diluted share	$	1.80		$	0.10		$	0.08		$	0.06
Weighted-average number of basic shares outstanding	31,217			32,077			31,203			25,615
Weighted-average number of diluted shares outstanding	31,217			32,077			31,432			25,896