October 27, 2016
Kopin posts $7.8M loss
Kopin Corp.
Kopin Corp. reported a third quarter loss of $7.8 million, or 12 cents per share, the company announced on Thursday.
By Laura Finaldi
Westborough wearable technology maker Kopin Corp. reported a third quarter loss of $7.8 million, or 12 cents per share, the company announced on Thursday.
The company’s third quarter financial report detailed a year-over-year revenue decline from $8 million in the third quarter of 2015 to $5.8 million this year. Sales of wearable products also fell to $1.5 million in the third quarter, down from $3.5 million in the same quarter of 2015. This contributed to the $7.8-million loss, a bigger deficit than its $4.7=-million loss in last year’s third quarter.
Kopin also reported cash and equivalents of $84.3 million, up from $80.7 million on Dec. 26, 2015, and no long-term debt.
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