Riber and Kopin report latest financial results
French MBE equipment manufacturer Riber has reported sales of €8.5 million ($10 million) for the first nine months of 2003. This figure was down 43% compared with €15.0 million recorded in the same period last year.
During the third quarter of 2003, Riber sold two Compact 21 research machines and one MBE 49 production machine.
Riber’s sales order backlog on September 30 stood at €11.9 million, compared with €9.5 million on June 30, 2003. During the third quarter of 2003, the company received orders for five research machines, including two Compact 21s, as well as an order for an MBE 49.
Riber maintains its forecast for full-year sales of at least €15 million in 2003.
Return of HBT customer will boost Kopin’s sales
Kopin’s revenue in the third quarter of 2003 decreased 12 percent sequentially to $17.5 million, from $19.9 million, in line with previous company guidance. In the September 2002 quarter, the company’s revenue was $21.9 million.
The company’s net loss widened to $3.0 million, or $0.04 per share, compared with a net loss of $1.0 million, or $0.01 per share, in the June 2003 quarter, and a net income of $0.6 million, or $0.01 per share, in the third quarter of 2002.
"Our third-quarter revenue was impacted by a large HBT customer working through second-source inventory in preparation for shifting 100 percent of its business to Kopin as part of a multi-year agreement," said John Fan, Kopin s president and CEO. Kopin expects to see a “snap-back” in HBT revenue during the final quarter of 2003, as this customer, thought to be Skyworks, orders more HBT products from Kopin.
The company’s III-V revenue was $6.0 million for the third quarter of 2003 versus $8.7 million in the immediately preceding quarter and $9.9 million in the third quarter of 2002.
"GaAs HBTs for wireless LAN applications again topped 10 percent of total HBT sales in the 2003 third quarter," said Fan "We see WLAN as an important growth opportunity for Kopin.
Fan also reported that Kopin’s CyberLite LEDs were qualified by a second customer and that performance enhancements continue to be made.
“Forecasting the LED market is proving difficult, since the market has been impacted by pricing erosion and commoditization,” said Fan. “Kopin s approach is to maintain our position with our customers and rapidly develop even better products.”
Overall, Kopin predicts that its total revenues for the fourth quarter will increase sequentially by approximately 20 percent.
