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LED spin-off propels Kopin into profit

Following the recent spin-off of its LED manufacturing activities, HBT epiwafer supplier Kopin reports a net profit.

Kopin Corporation, the Taunton, MA, supplier of HBT epiwafers, has reported a net profit of $1.2 million in its latest financial quarter.

Although the company's $18.9 million revenue was down on the figure posted in the equivalent period last year, the decision to shelve its LED manufacturing activities has had a big effect on Kopin's bottom-line performance.

One year ago, Kopin reported a net loss of $3.4 million on revenue of $22.4 million.

Spinning out its LED manufacturing business as part of Taiwan-based joint venture KO-BRITE (see related story) appears to have saved Kopin more than $5 million in operating costs in the quarter.

The company also registered a reimbursement of $0.65 million for providing KO-BRITE with training and research and development expertise.

Revenue from HBT epiwafer sales specifically were $9.4 million for the quarter ended 26 March 2005, almost identical to the figure posted one year ago and up from $8.6 million sequentially.

The rest of Kopin's sales come from its microdisplay division, which enjoys higher margins than the III-V business.

Kopin CEO John Fan was positive about the future prospects of the HBT epiwafer line: "As the handset market grows, and as new technologies such as Wi-Fi and WiMAX gain traction in the market, our transistors, including the new GAIN-HBT, will provide the characteristics that our customers require to ensure the optimum performance of their power amplifiers."

Kopin is currently developing GAIN-HBT technology, which is based on the quaternary GaAsInN material system and should allow circuit designers to integrate more functionality into power amplifier chips as cellphone makers demand greater complexity from their suppliers.

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