News Article

Nasdaq Warning For Confident Kopin

Sales of HBT epiwafers jump 20 percent at Kopin, but the company receives a warning from the Nasdaq exchange about its late filing of financial reports.

Kopin, the Massachusetts epiwafer foundry that has close ties with Skyworks Solutions, posted increased III-V product sales of $11.1 million in its latest quarter.

Although slightly down on the equivalent period last year, that revenue figure represented a strong sequential rise from $9.1 million, thanks to a 20 percent uptick in HBT epiwafer sales.

Kopin is expecting its III-V business to grow strongly in 2008, as demand for components used in advanced wireless handsets and broadband internet connectivity steps up, and is in the middle of a capacity build to support that demand.

Referring to the company s ongoing MOCVD equipment expansion, CEO John Fan said, "We are on track with the installation and qualification of three of the world s most advanced and largest HBT production systems in our Taunton facility."

"By the end of this year, our capacity should be approximately 50 percent higher than our 2005 capacity levels," Fan continued, adding that the advanced equipment would improve uniformity and process control of its 6-inch diameter wafer production.

Because of an ongoing investigation into its awards of stock options, Kopin was still unable to report full financial results, and gave no figures for operating performance or net profit.

That delay has also prompted a warning from the Nasdaq exchange, which has notified Kopin that it has until September 25 to file its overdue reports and any necessary restatements. Failure to do so could result in expulsion from the exchange.

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