SOURCE: EMCORE

EMCORE

September 08, 2010 08:37 ET

EMCORE Corporation Receives Platinum Supplier Award From Northrop Grumman Corporation

Award Granted for EMCORE's Performance in Supplying High-Efficiency Multi-Junction Solar Cells for Use in Northrop Grumman Aerospace Systems' Satellite Programs

ALBUQUERQUE, NM--(Marketwire - September 8, 2010) -  EMCORE Corporation (NASDAQ: EMKR), a leading provider of compound semiconductor-based components and subsystems for the fiber optic and solar power markets, announced today that the Company has received a Platinum Supplier Award from Northrop Grumman Corporation (NYSE: NOC).

EMCORE is currently under a long-term supply agreement (LTSA) with Northrop Grumman's Aerospace Systems sector to manufacture and deliver high-efficiency, multi-junction solar cells for Northrop Grumman satellite programs. EMCORE solar cells will help provide power for Northrop Grumman's space-based global climate monitoring capabilities and other satellite missions. The period of performance for the supply agreement is 2009 through 2012, with a potential value of more than $17 million.

Northrop Grumman Subcontract Administrator David Umanoff commented, "Platinum Supplier Awards are presented to exceptional companies that provide excellent product quality, are extremely reliable, and have a solid record of on-time deliveries. Their professionalism and expertise make these suppliers stand out in the industry."

This collaborative working relationship has also enabled Northrop Grumman to help EMCORE maintain and grow its business base in the space photovoltaics market. Northrop Grumman has been using the LTSA to look across programs and accelerate orders to improve production efficiency in EMCORE's production line. Christopher Larocca, EMCORE's Chief Operating Officer, stated, "We are grateful for Northrop Grumman's proactive support of EMCORE. We are delighted with Northrop Grumman's confidence in EMCORE and value the long-standing relationship we have enjoyed with them for the past 10 years."

About EMCORE:

EMCORE Corporation offers a broad portfolio of compound semiconductor-based products for the broadband, fiber optic, satellite and solar power markets. EMCORE's Fiber Optic segment offers optical components, subsystems and systems for high speed data and telecommunications networks, cable television (CATV) and fiber-to-the-premises (FTTP). EMCORE's Photovoltaic segment provides products for both satellite and terrestrial applications. For satellite applications, EMCORE offers high-efficiency Gallium Arsenide (GaAs) solar cells, Covered Interconnect Cells (CICs) and panels. For terrestrial applications, EMCORE is adapting its high-efficiency GaAs solar cells for use in solar concentrator systems. For further information about EMCORE, visit http://www.emcore.com.

About Northrop Grumman:

Northrop Grumman Corporation is a leading global security company whose 120,000 employees provide innovative systems, products, and solutions in aerospace, electronics, information systems, shipbuilding and technical services to government and commercial customers worldwide. Please visit www.northropgrumman.com for more information.

Forward-Looking Statements:
This press release contains forward-looking statements based on certain assumptions and contingencies that involve risks and uncertainties. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this press release involve risks and uncertainties, which could cause actual results, performance or trends to differ materially from those expressed in the forward-looking statements herein or in previous disclosures. EMCORE believes that all forward-looking statements made by it have a reasonable basis, but there can be no assurance that management's expectations, beliefs or projections as expressed in the forward-looking statements will actually occur or prove to be correct. In addition to general industry and economic conditions, factors that could cause actual results to differ materially from those discussed in the forward-looking statements in this press release include, but are not limited to the successful completion of all of NGAS's obligations under its contracts with its customers; other factors that could affect EMCORE's business, financial conditions and results of operations are included in EMCORE's Annual Report on Form 10-K under the caption "Risk Factors," and updated by EMCORE's subsequent filings with the SEC, all of which are available at the SEC's website at http://www.sec.gov. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. EMCORE does not intend, and disclaims any obligation, to update any forward−looking information contained in this release or with respect to the announcements described herein.

Contact Information