Needham & Company Downgrades Kopin Corp (KOPN) to Hold; Weaker Military Sales; Lack of Earnings Growth
Tweet Send to a FriendGet Alerts KOPN Hot Sheet
Price: $3.51 -0.28%
Rating Summary:
0 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
0 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade KOPN Now!
Needham & Company downgraded Kopin Corp (NASDAQ: KOPN) Buy to Hold.
Analyst, Rajvindra S. Gill, said, "Management provided 2012 annual guidance of $110-120MM, significantly below our $160MM estimate, primarily due to Defense Department budget cuts adversely affecting KOPN’s military segment. While the III-V business is performing nicely due to accelerating smartphone growth, the military business is undercutting the overall growth trajectory and hurting operating leverage. With a projected loss of $(0.01) in 2012 and little earnings growth likely in 2013, we found ourselves hard pressed to maintain the Buy rating. We could become more constructive if we see some sustainability in the military business and growth in the Golden-i initiative."
FY12 EPS estimate cut from $0.26 to (0.01).
For an analyst ratings summary and ratings history on Kopin Corp click here. For more ratings news on Kopin Corp click here.
Shares of Kopin Corp closed at $3.63 yesterday, with a 52 week range of $3.07-$5.22.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Rajvindra S. Gill, said, "Management provided 2012 annual guidance of $110-120MM, significantly below our $160MM estimate, primarily due to Defense Department budget cuts adversely affecting KOPN’s military segment. While the III-V business is performing nicely due to accelerating smartphone growth, the military business is undercutting the overall growth trajectory and hurting operating leverage. With a projected loss of $(0.01) in 2012 and little earnings growth likely in 2013, we found ourselves hard pressed to maintain the Buy rating. We could become more constructive if we see some sustainability in the military business and growth in the Golden-i initiative."
FY12 EPS estimate cut from $0.26 to (0.01).
For an analyst ratings summary and ratings history on Kopin Corp click here. For more ratings news on Kopin Corp click here.
Shares of Kopin Corp closed at $3.63 yesterday, with a 52 week range of $3.07-$5.22.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: UBS Downgrades Carnival (CCL) to Neutral; Worst May Not Be Behind
- Deutsche Bank Starts Taylor Morrison Home (TMHC) at Hold, Says 'Risks Downplayed'
- UPDATE: Sterne Agee Downgrades Beazer Homes (BZH) to Neutral
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst EPS View, DowngradesRelated Entities
Needham & Company, Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
