News Article
Kopin reports 3rdQ. 2012 Financial Results
Revenues for the three months ended September 29, 2012 were $21.9 million, compared with $29.6 million in the third quarter of 2011. III-V product revenues were $13.7 million, compared with $15.5 million for the third quarter of 2011, reflecting slower growth in mobile phone demand in the 2012 period. Display product revenues decreased to $8.2 million from $14.1 million for the same period of last year due to lower revenue from the Company’s military display products in the 2012 period.
The net loss for the third quarter of 2012 was $6.7 million, or $0.11 per share, compared with net income of $0.2 million, or $0.00 per share, for the third quarter of 2011. Results for the three-month periods of 2012 and 2011 included a $0.5 million loss and a $1.0 million gain, respectively, related to foreign currency fluctuations. Non-cash stock compensation expense increased $0.8 million to $1.5 million in the third quarter of 2012, compared with $0.7 million in the third quarter of 2011. Additionally, during the third quarter of 2012 Kopin increased its investment in Ikanos Consulting, Ltd. to 51% of outstanding common stock and recorded a non-cash loss of $0.6 million related to its stepped-up investment. Ikanos is now consolidated within Kopin’s consolidated financial results and incurred approximately $0.4 million in losses.
www.kopin.com.
www.kopin.com.
