Mar 14, 2023 8:58 am | 1 minute read
- Kopin Corp KOPN reported fourth quarter FY22 revenue down 8% year-on-year to $12.18 million, beat the consensus of $11.18 million.
- Defense applications revenue increased 19.6% year over year to $7.1 million, while industrial applications declined 46% year over year to $1.2 million.
- Product sales were down 1.6% year over year to $8.7 million, while R&D sales were down 24.1% year over year to $3.3 million.
- EPS loss of $(0.07) missed consensus loss of $(0.03).
- The company had $12.6 million in cash and cash equivalents.
- Michael Murray, CEO of Kopin, said: “As we move into 2023, I see numerous long-term opportunities to drive revenue growth in our defense and industrial markets, but we must deliver operational excellence for this to be profitable growth. In addition to our operational improvements, we are focusing our business development efforts on offering our integrated optical display assemblies with higher added value, which are critical to increasing applications for AR/VR/MR, among others.”
- Price promotion: KOPN shares traded 2.83% lower at $1.06 premarket on the latest check Tuesday.
- Photo via company
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