Kopin revenues up as losses widen
While revenues for wearable-technology company Kopin Corp. of Westborough inched up in the second quarter, it saw its losses widen due to higher research and development costs.
For the quarter, Kopin reported revenues of $6.9 million, compared with $6.1 million for the same period in 2013.
The company has increased research and development spending for both its own products and on a consulting basis. The company said the former cut into profits, while the later helped boost revenue.
Overall, net loss for the second quarter was $8.8 million or 14 cents per share, compared with a net loss of $7.9 million, or 13 cents per share, in 2013.
The company said that an anticipated increase in military sales in the second half of 2014 has caused them to boost full-year earnings forecasts.
Kopin said it now expects full-year 2014 revenue to hit $28 million, up from $24 million; meanwhile, it has lowered its expected loss for the year from $40 million to $32 million.
WBJ Web Partners
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