Kopin reveals growing revenues
Net losses came in at $1.62 million, compared to first quarter losses of $3.2 million and $15.2 million losses in the year-ago period. According to Kopin s CEO, John Fan, both sectors of the company saw business improvements.
"Our business has improved on the strength of a diversified mix of HBT transistor and display customers," said Fan. "Our balance sheet is the strongest in our history with more than $110 million in cash and equivalents as well as no debts."
III-V revenue increased 23 % to $9.4 million from $7.7 million in the first quarter of 2002. This also marks a 144% increase year-on-year. CyberDisplay revenue was up 15% sequentially to $11.4 million.
"In our III-V product area, the story of the second quarter was steady demand and the bounce-back in orders from some HBT customers that had been comparatively quiet for several quarters," added Fan. "The performance of our III-V product group in this quarter is a testament to the progress we have made in increasing out market share."
Fan says that Kopin will now focus on increasing its III-V market share as well as continuing to invest in research and development.