Emcore's Loss Is Wider Than Expected

Emcore(EMKR Quote) posted a wider-than-expected first-quarter loss on weaker demand for its products.

The semiconductor company said it lost $17.7 million, or 49 cents a share, excluding charges, compared with a loss of $7.8 million, or 23 cents a share, in the year ago quarter. Wall Street had been expecting a loss of 37 cents a share, according to Thomson Financial/First Call.

Using generally accepted accounting principles, the company lost $31 million, or 85 cents a share, compared with $11.4 million, or 34 cents a share, a year ago.

Revenue for the quarter fell to $19.1 million from $39.1 million in the year ago period.

Shares of Emcore closed down 2% at $9.07 Wednesday.