Hong Q. Hou
Thank you Kevin. Good afternoon, as Kevin said I’ll give you a update, EMCORE certainly to some of you are pretty familiar name, but over the last several years we have restructured the company especially in the last couple of quarters, pretty significantly. I think we are very excited about the business flowing out we have right now. And the first slide, just to give you a quick overview of the company. We run the fiscal year from October through September, so we’ll be finishing our fiscal 2012. But in last year, our revenue roughly about $200 million and we operate headquartered in Albuquerque in New Mexico and our fiber optics components effort has been primarily in California.
We’ve a factory in China and we also have a joint venture on the solar side, solar energy solar power side we have 40% equity interest that is based in China as well. And the three primary operations in U.S, our headquarter in Albuquerque, which is also the site of design and manufacture of space solar components and solar panels for satellite. And the other two main locations are in Pasadena, California area and Newark, California area in the Bay area.
So we had four business units and in two business segments, one segment is in Fiber Optics and the other one is a Solar Photovoltaics. And actually over the last three months we have gone through a pretty substantive restructuring as Kevin mentioned. And we about a year ago the management team along with our Board of Directors had a very thorough review on the product line profitability.So we get a pretty diverse portfolio of which some of the products and reaches now almost the end of life, so we decided to discontinue some of the products. We are the first couple of other areas for example enterprise fiber optics components, which needs significant investment to keep the leading position. And we decided to divest that business and we did, we sold the Fiber Optics business VCSEL-based to Sumitomo in early May.