Kopin Announces Q3 1999 Financial Results
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| Oct. 2, 1999 (Unaudited) | Dec. 31, 1998 |
| ASSETS |
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| Current assets: |
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| Cash and marketable securities | $ 27,569,006 | $ 36,808,218 |
| Accounts receivable, net | 10,290,360 | 3,653,998 |
| Inventory | 5,621,322 | 3,337,178 |
| Prepaid expenses and other current assets | 1,184,309 | 743,069 |
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| Total current assets | 44,664,997 | 44,542,463 |
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| Equipment and improvements, net | 15,790,706 | 9,345,857 |
| Other assets | 6,286,942 | 6,173,153 |
| Intangible assets | 1,799,334 | 1,844,148 |
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| Total assets | $ 68,541,979 | $ 61,905,621 |
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| LIABILITIES AND STOCKHOLDERS EQUITY |
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| Current liabilities: |
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| Accounts payable and accrued expenses | $ 8,199,328 | $ 3,184,236 |
| Current portion of long-term obligations | 1,995,433 | 1,999,494 |
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| Total current liabilities | 10,194,761 | 5,183,730 |
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| Long-term obligations, less current portion | 2,930,980 | 4,209,474 |
| Minority interest | 717,372 | 665,994 |
| Stockholders equity | 54,698,866 | 51,846,423 |
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| Total liabilities and stockholders equity | $ 68,541,979 | $ 61,905,621 |
CyberDisplay and Wafer-Engineered are trademarks of Kopin Corporation.
Forward-looking statements contained in this press release are made under safe harbor provisions ofthe Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertaintiesld materially affect future results. Among these risk factors are general economic and businessconditions and growth in the flat panel display and gallium arsenide integrated circuit and materialsindustries, the impact of competitive products and pricing, availability of third-party components,availability of integrated circuit fabrication facilities, cost and yields associated with production of theCompany s CyberDisplay imaging devices and Wafer-Engineered transistor wafers, loss of significantcustomers, acceptance of the Company s products, continuation of strategic relationships, Year 2000matters, and the other risk factors and cautionary statements listed from time to time in the Company speriodic reports and registration statements filed with the Securities and Exchange Commission,including but not limited to, the Company s prospectus dated September 20, 1999 and its AnnualReport on Form 10-K for the fiscal year ended December 31, 1998.
Contact:
Kopin Corporation
Richard Sneider,
Chief Financial Officer
rsneider@kopin.com
508/824-6696
or
Sharon Merrill Associates, Inc
Scott Solomon
ssolomon@sharonmerrillassoc.com
617-542-5300
Richard Sneider,
Chief Financial Officer
rsneider@kopin.com
508/824-6696
or
Sharon Merrill Associates, Inc
Scott Solomon
ssolomon@sharonmerrillassoc.com
617-542-5300
E-mail: ssolomon@sharonmerrillassoc.com
