EMCORE Awarded Long-Term Production Contract for Custom MEMS Gyroscopes for Advanced Wellbore Survey Equipment
EMCORE has completed the development phase of this custom-designed MEMS-based gyroscope and is currently in full production. The gyroscope for this application is designed to ensure industry-leading noise performance over the challenging environments experienced in downhole drilling. This capability is being provided exclusively for this key customer who deploys sensors on the most advanced, precision wellbore survey equipment available.
“This is an important contract award for our Navigation & Inertial Sensing business, and we are extremely pleased to be selected by this valued customer to supply custom gyroscopes for their system,” said
The information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include statements regarding EMCORE's plans, strategies, business prospects, growth opportunities, changes, and trends in our business and expansion into new markets. These forward-looking statements are based on management's current expectations, estimates, forecasts, and projections about EMCORE and are subject to risks and uncertainties that could cause actual results and events to differ materially from those stated in the forward-looking statements, including without limitation, the following: (a) uncertainties regarding the effects of the COVID-19 pandemic and the impact of measures intended to reduce its spread on our business and operations, which is evolving and beyond our control; (b) the rapidly evolving markets for EMCORE's products and uncertainty regarding the development of these markets; (c) the failure of products: (i) to perform as expected without material defects, (ii) to be manufactured at acceptable volumes, yields, and cost, (iii) to be qualified and accepted by our customers, and (iv) to successfully compete with products offered by our competitors; (d) uncertainties concerning the availability and cost of commodity materials and specialized product components that we do not make internally; (e) actions by competitors; and (f) other risks and uncertainties discussed under Item 1A - Risk Factors in our Annual Report on Form 10-K for the fiscal year ended
Vice President of Sales, Marketing and Business Development
Chief Financial Officer
Source: EMCORE Corporation