TAUNTON – Kopin Corp. managed to post a profit for the second quarter of 2010 despite an increase in expenses that eclipsed revenue growth, the company said in its quarterly report.
Kopin posted a profit of $1.86 million, or 3 cents per diluted share, for the three months ended June 26, compared with a profit of $3.68 million, or 5 cents per diluted share, a year earlier. Revenue increased 7 percent to $30.19 million.
Operating expenses for the display maker surpassed revenue, climbing 20 percent year-over-year to $30.93 million in the second quarter. This included increases in the cost of sales, research and development, and general selling and administrative expenses.
However, Kopin was able to make a $1.9 million investment gain by selling securities, in addition to a $700,000 gain from currency fluctuations.
John C.C.Fan, president and CEO of Kopin, said in a press release that the company still expects its full-year revenue to come in between $120 million and $130 million.
Additional information is available at www.kopin.com.
