Updated March 29 at 12:29am

Sign up to receive Providence Business News' newsletters
and breaking news alerts.  

manufacturing

Kopin Corp. 2Q profit declines

Posted:

TAUNTON – Kopin Corp. saw its second-quarter profit decline to $801,824 from $1.86 million in the same period a year earlier.

The supplier of advanced semiconductor products and microdisplays for mobile applications – including smartphones, tablets, and military thermal weapons sights and wearable computers - said earnings per diluted share were 1 cent, as compared with 3 cents a year earlier.

The second-quarter results included a net gain of $400,000 from the sales of investments and a net loss of $300,000 from foreign currency fluctuations, the company said Friday.

“Our second-quarter operating results reflect a continuation of the strategy we set forth at the beginning of the year – balancing short-term financial performance with a focus on long-term growth,” said Kopin President and CEO John C.C. Fan, who noted the “excellent progress” the company is making on bringing its Golden-i hands-free mobile computing solution to market.

Fan also noted the company was on course to achieve the full-year revenue guidance of $130 million to $140 million.

“Robust smartphone demand should continue to fuel our III-V business, just as the TWS-IIB [the U.S. Army’s Thermal Weapon Sight Bridge] and a number of military R&D programs are expected to generate momentum for our display unit,” he said. The III-V business is a product line composed of Gallium Arsenide circuits used in mobile devices, as well as display products.

For the six months ended June 25, Kopin’s profit declined to $2.87 million from $2.90 million as seen in the same 2010 period. Earnings per diluted share were 4 cents for the six months, the same as they were in the first half of last year.

kopin, john c.c. fan, microdisplays, mobile applications, thermal weapons sights, wearable computers, smartphones, full-year revenue guidance, gallium arsenide

Comments

No comments on this story | Please log in to comment by clicking here
Please log in or register to add your comment
Latest News