EMCORE (EMKR) Gets 3Yr $17 Million Solar Supply Deal With Northrup Grumman (NOC)
EMCORE (EMKR) announced before the close today that they have secured a solar supply deal with Northrup Grumman (NOC)for Northrup’s space based global climate monitoring systems and othersatellite missions through 2012. The deal has a potential value of $17million. EMCORE is the leading player for solar applications in spacebased operations.
Christopher Larocca, EMCORE’s CEO, said, “Our provenmanufacturing capabilities and unsurpassed reliability heritage makeEMCORE the supplier of choice for demanding spacecraft power systems.We look forward to working with Northrop Grumman Aerospace Systems topower their satellite missions for many years to come.”
Shares of EMKR surged on the news initially before pulling backinto the close. In my opinion, it sets up an interesting day tradesituation for tomorrow morning.
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