Kopin Annual Revenues up 1% as Expenses Drop
WESTBOROUGH, Mass. — Kopin Corp., a developer of wearable computing technologies and systems, has ended 2015 with an increase in revenue.
The company reported 2015 revenue of $32.1 million, up from $31.8 million in 2014. R&D expenses decreased from 20.7 million in 2014 to $17.7 million for 2015. Selling, general and administrative expenses amounted to $18.1 million for 2015, compared with $19.9 million for 2014.
“In 2015, our revenues from sale of products for the wearable market doubled over 2014 to approximately $12 million,” said Dr. John Fan, president and CEO of Kopin. “As more companies adopt Kopin’s view that the headset is the next smartphone and voice will someday replace touch, we expect more new customers and industries to develop.”
Net loss for 2015 was $14.7 million, or $0.23 per share, compared with a net loss of $28.2 million, or $0.45 per share, for 2014. Included in the 2015 results of operations was a $9.2 million gain on the sale of investments.
“We ended the year with the leading headset manufacturers across enterprise, consumer and military, all offering wearable products based on our technology,” Fan said.”Our customers range from Rockwell Collins for military avionic helmets, to Fujitsu for enterprise applications and to Intel/Recon for consumer applications.”
Kopin’s technology portfolio includes ultrasmall displays, optics, speech enhancement technology, system and hands-free control software, low-power application-specific integrated circuits and ergonomically designed smart headset reference systems.