Kopin stock price hits all-time low, following 3Q loss
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Kopin Corp.'s Westborough headquarters
The stock price of Westborough electronics manufacturer Kopin Corp. hit an all-time low of 53 cents a share today following a third quarter announcement where company officials touted increased revenue but still delivered losses.
Kopin stock prices on the Nasdaq bottomed out today on the company’s third quarter report, hitting a 77.25% loss for the year from $2.33 a share a year ago.
The company reported third quarter revenues of $6.1 million, up from $5.1 million for the same quarter a year prior. However, net loss attributable to the controlling interest for the third quarter was $6.6 million, or 8 cents per share, compared with a net loss of $9.8 million, or 13 cents per share, for the third quarter 2018.
One positive area highlighted by Kopin CEO John Fan was a reduction of 48% in research and development costs. He attributed this decline to development programs transitioning to production and anticipated more R&D spending reductions moving forward.
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