EMCORE Corporation (NASDAQ:EMKR) Q2 2024 Earnings Call Transcript

Brian Kinstlinger: Yes. The only other question I wanted to make sure I understood, it sounded like the challenge of the Mark 54, you’ve now shipped those units, yet the second quarter isn’t much stronger than the first quarter. Is that because the Mark 48 is going to have more of an impact on the second quarter? Is that why we’re not seeing that recovery yet?

Matt Vargas: I can grab that one, Tom. I think it’s less of an, it’s less of an in-line torpedo nested problem set that I think you’re elaborating. Tom spoke a little bit about the decline in revenues in Budd Lake, those things as paired activity create what sort of the slump that was described. So it’s not necessarily, Mark 54 and Mark 48 are relatively independent demand signals. The internal manufacturing processes is a little bit more agnostic, but those are two separate demand signals, for two separate programs. But there’s individual fiscal year budget implications in Washington that we’re attuning our sensitivities to a little bit more, but that takes a little bit of time. So, I hope that answers your question, but they’re not necessarily always correlated from an outside demand perspective.

Operator: We don’t have any questions at this time. That concludes our Q&A session. I will now turn the conference back over to Cletus Glasener for closing remarks.

Cletus Glasener: Thank you, Benjamin. So first, I’d like to convey to our shareholders, many of you who have held shares for a long time, that the EMCORE leadership and the Board is working to restore financial health to this business. We do appreciate you sticking with us through this transformative time. And I’d also like to give my sincere thanks to our employees of the Company who have and will continue to support us through this transition. With that, that’s all of our remarks. Thank you so much for attending.

Operator: Ladies and gentlemen, that concludes today’s call. Thank you all for joining. You may now disconnect.