Top Gainers: EMCORE Corporation (NASDAQ:EMKR); Spartan Motors Inc (NASDAQ:SPAR); Misonix, Inc. (NASDAQ:MSON)
Dallas, Texas, 09/19/2014 (ustrademedia) – Semiconductor solutions and equipment provider EMCORE Corporation (NASDAQ:EMKR) announced on 17th September that it has signed off on an agreement with private investment firm Veritas Capital. The agreement covers the sale of one of EMCORE Corporation’s “Photovoltaics” units to the equity firm for a cash consideration of $150 million. The deal is yet to be approved by the shareholders of the ALBUQUERQUE, NM headquartered firm and is expected to close in Jan 2015 as per the company press release. Pursuant to this deal, the equity firm has in turn inked a voting agreement with a block of shareholders of EMCORE Corporation (NASDAQ:EMKR), which will ensure that 11% of the voting power would be cast in their favour.
Marketing services provider for the retail space Spartan Motors Inc (NASDAQ:SPAR) announced recently that one of its 100 percent owned subsidiaries SPAR National Assembly Services, Inc. has entered into a two year partnership deal with privately owned digital display mounting major Ergotron. The deal involves Spartan providing installation services for Ergotron’s flagship “WorkFit(TM) sit-stand” solutions both for the corporate and home use sector. Spartan Motors Inc (NASDAQ:SPAR) SVP of Operations and Business Development has indicated that his company is very excited to engage with Ergotron in this emerging “sit-stand workstations” business vertical.
The management of Ultrasonic surgical device manufacturer Misonix, Inc. (NASDAQ:MSON) followed up their 4Q earnings report on 10th September with a “discussion and analysis” session on 17th September. The management team pointed out that the net sales for the full year 2014 was up to $17.06 million as against the $14.82 million they had recorded in FY13. The biggest revenue contributor in the just concluded fiscal was the BoneScalpel practice which yielded $1.34 million. Gross profits too jumped up to 65.2 percent for FY 14 as against the 49.9 percent reported in FY13.