Wearable Technologies Firm Kopin Ramps Up Production
WESTBOROUGH, Mass., Nov. 5, 2014 — Kopin Corp. reported a third-quarter net loss but said it is building momentum as its customers prepare to bring wearable technologies to the market in 2015.
A developer of ultrasmall displays, optics and other components for consumer wearables and military devices, Kopin’s net loss was $5.0 million, compared with net loss of $8.8 million for the same period in 2013.
Product revenues grew 85 percent, from $5.0 million in the third quarter of 2013 to $9.5 million in the third quarter of 2014, driven partly by military sales. The company expects its full-year revenue to be $24 million to $28 million, with a consolidated net loss of $29 million to $30 million.
Kopin said it has decreased R&D spending and is shifting engineering resources to pre-production and production as it expands manufacturing capacity at its Westborough headquarters.
CEO Dr. John C.C. Fan cited recent market forecasts that put the potential global wearables market, led by smart glasses and headsets, at $170 billion by 2020.
“We are also seeing many of the leading companies that supply products for smartphones, tablets and PCs seeking us out to align with our product roadmaps,” Fan said.
For more information, visit www.kopin.com.
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