TAUNTON – Kopin Corp. (Nasdaq: KOPN) has filed its Form 10-Q (the quarterly report) for the period ended March 29 and is again current on its documents with the U.S. Securities and Exchange Commissions, the manufacturer said.
The net income and revenue in the company’s Monday filing were unchanged from its preliminary report last month (READ MORE), as the telecommunications and digital display maker posted net income of $950,235 on revenue of $29.17 million, compared with its first-quarter 2007 net loss of $3.3 million on revenue of $18.13 million. Kopin cited double-digit growth in its CyberDisplay product line and military weapon-sight programs.
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Kopin had delayed its formal filing with the SEC, pending an internal probe of a customer complaint “relating to certain representations and actions of an employee of a subsidiary,” the company said. The Nasdaq Stock Market responded with a Staff Determination Letter stating that, by not filing the Form 10-Q, Kopin had violated Marketplace Rule 4310(c)(14), and threatening the company with delisting as of May 28. (READ MORE)
After Kopin filed an appeal of the decision, the delisting was stayed pending a July 17 hearing, at which the company must demonstrate ability to sustain long-term compliance with market listing criteria. (READ MORE) “However, there can be no assurance that the Nasdaq Listing Qualifications Panel will grant the company’s request for continued listing of its common stock,” Kopin has said.
Kopin Corp. (Nasdaq: KOPN) develops and manufactures telecommunications, digital imaging and other technologies under the Kopin, CyberDisplay and NanoSemiconductor Co. brands. Additional information is available at www.kopin.com.
