manufacturing

Kopin profit tumbles

KOPIN Corp. said Wednesday that its full-year net income dropped to $3.6 million in 2011 from $8.9 million in 2010.
Posted 3/8/12

TAUNTON – Kopin Corp. said Wednesday that its full-year net income dropped to $3.6 million in 2011 from $8.9 million in 2010.

Earnings per diluted share were 6 cents last year and 13 cents in 2010. Revenue increased to $125.5 million, compared with $116.6 million, the supplier of advanced semiconductor products and microdisplays for mobile applications said.

“We expect Defense Department budget cuts to negatively affect our military display revenue and as a result, for full-year 2012 we expect to generate total revenues in the range of $110 million to $120 million,” said John C.C. Fan, Kopin president and CEO.

“The Defense Department budget cuts were not unexpected, and we have been planning for this situation for some time. For example, by the end of this month we anticipate the completion of a plant consolidation project we started more than a year ago,” he said.

Kopin also reported results for the three months ended Dec. 31. Revenue increased to $34.4 million in the fourth quarter from $32.4 million in the same 2010 quarter.

The company reported a net loss for the period of $66,658, however, compared with a profit of $4.7 million, or 7 cents per diluted share, a year earlier.

Calendar
PBN Hosted
Events

DEADLINE EXTENDED to Friday, October 3rd for applications for the 14th Annual Business Excellence Awards Program. And save the date for the Awards Dinner - November 12th at the Providence Marriott.
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement