This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Kopin Reports Second-Quarter 2012 Financial Results

Kopin Corporation (Nasdaq: KOPN), a leading supplier of advanced semiconductor products and microdisplays for mobile applications including smartphones, tablet PCs, military thermal weapons sights and wearable computers, today reported financial results for the second quarter ended June 30, 2012.

Comments on Display and III-V

“Our second-quarter results were in line with our previously stated expectations,” said Dr. John C.C. Fan, Kopin’s President and Chief Executive Officer. “Display product revenues were down in the second quarter due to decreased U.S. military spending, while III-V revenues were essentially flat as the market awaits the launch of the next-generation iPhone in the second half of the year.”

“We continued to make significant progress on our two key product lines, III-V and Golden-i,” Dr. Fan said. “For our III-V products, the future bodes well as Kopin and Skyworks Solutions, Inc. extended our purchase and supply agreement through December 2013 under terms similar to our previous agreements. Skyworks has been an outstanding customer and partner for many years, and we look forward to continuing to supply them with the highest quality III-V products.”

“During the second quarter we continued to advance our Golden-i platform technology, and are pleased to report that our industrial partner is on track to launch a Golden-i-enabled product in 2012,” Dr. Fan said. “Golden-i is a software-based, application-driven technology that will enable both device makers and software application developers to create new breeds of wireless head-worn, hands-free, mobile devices for numerous products and markets. Among the applications we are developing with our partners is artificial intelligence software that supplements the current ‘command and control’ voice technology with natural speech recognition for our focused markets. We are very excited about the prospects for our Golden-i platform as we move into 2013 and beyond.”

Business Outlook

“Our renewed purchase and supply agreement with Skyworks, combined with our strong relationships with other customers, positions our III-V business well for the future,” Dr. Fan said. “While the growth trajectory of the wireless handset market may not be as steep as anticipated at the beginning of 2012, the market remains strong. In our military display business, the decline in defense spending has prompted one customer to review various options to reduce costs, which is currently affecting an existing program. As a result of this review, orders we had anticipated in our 2012 guidance likely will not occur this year. Consequently, we are reducing our full-year 2012 revenue guidance to $90 million to $100 million from a previous range of $110 million to $120 million.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,351.38 +293.03 1.82%
S&P 500 1,948.86 +35.01 1.83%
NASDAQ 4,749.9790 +113.8740 2.46%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs