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.
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
