Kopin records 14% sequential growth with quarterly revenue of $17.6 million
III-V product revenue was roughly flat at $7.7 million compared with $7.8 million in the fourth quarter of 2001. III-V revenue was $10.8 million in the first quarter of 2001.
First-quarter net loss improved to $3.2 million, or $0.05 per share, from a net loss of $7.1 million, or $0.10 per share, in the sequential fourth quarter. This compares with a net loss of $6.8 million, or $0.10 per share, in the first quarter of 2001.
"Although the near-term wireless handset outlook remains mixed, in III-V we have seen something of a snap-back in recent weeks, driven by OEMs building new handset platforms with advanced features," said John Fan, Kopin s president and CEO.
"Our III-V business managed to avoid the 5-10% seasonal decline that typically hits the semiconductor component industry in the March quarter, Fan said. "Orders in the beginning of January started slow as our customers assessed the inventory situation but continued to steadily increase during the quarter from all of our major customers.
In the second quarter of 2002, Kopin anticipates achieving sequential revenue growth, maintaining its investment in R&D and continuing to diversify its customer base. "We expect total revenue to increase by more than 10 percent sequentially, fueled by double-digit sequential growth in each product line, Fan said. "In III-V, we have soldered strong relationships with our circuit partners, and are continuing to work with new customers. We hope to benefit as they ramp production of power amplifiers and modules for new wireless handsets. Furthermore, we are making substantial strides in our focused R&D objectives to develop new advanced products and to improve manufacturing yields and techniques."
Richard Sneider
Tel. +1 508 824-6696
E-mail: rsneider@kopin.com
Web site: http://www.kopin.com
