Kopin Corp.
shares fell as much as 39 percent after the maker of materials for
semiconductors said it has been unable to reach an agreement with
a large customer and expects fourth-quarter sales to fall 25
percent to 30 percent from the third quarter.
Shares of Taunton, Massachusetts-based Kopin fell $1.50, or
34 percent, to $2.91 at 1:12 p.m. in Nasdaq Stock Market trading.
Earlier, they touched $2.70. They had fallen 69 percent this year.
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Kopin normally negotiates purchasing terms for the next year
in the fourth quarter and has been unable to reach an accord with
an unidentified large customer, the company said in a statement.
Sales in the third quarter rose 77 percent to $21.2 million
from $11.9 million. The company had net income of $591,534, or 1
cent a share, in the quarter. Kopin was expected to lose 1 cent,
the average estimate of seven analysts polled by Thomson First
Call. It had a loss of $9.23 million, or 14 cents, a year earlier.
Bloomberg News
