Kopin Corp (KOPN) Misses Q4 EPS by 4c, Revenues Miss

Kopin Corp (NASDAQ: KOPN) reported Q4 EPS of ($0.15), $0.04 worse than the analyst estimate of ($0.11). Revenue for the quarter came in at $7.7 million versus the consensus estimate of $8.46 million.

“We saw positive developments in both our military and enterprise operations in 2018, which positions us for continued momentum this year,” said Dr. John C.C. Fan, CEO of Kopin Corporation. “For the military we commenced shipping into the Family of Weapon Site Individual (FWS-I) program, and we entered a new military market with the win for an armored vehicle program. In addition, we continued ramping shipments of displays into the Joint Strike Fighter F-35 program; our partner, Collins Elbit Visions Systems, recently announced that the 1,000th F-35 HMD had been delivered. The HMD manufactured by Collins Elbit Vision Systems is the only proven system that can pair with the world’s most advanced fighter jet.

“We also saw good traction with our enterprise customers as their products move from testing to commercialization. Companies continue to recognize the benefits of augmented reality (AR), including safety, efficiency and cost savings. We look for the Tier one customer that bought 5,000 displays in late 2018 to commercialize this year, and strengthen our position in industrial wearables.”

Dr. Fan continued, “The consumer market has not developed on the schedule that we, or industry experts, expected. Development of virtual reality (VR) applications continues to lag and we believe one of the catalysts to drive innovation is an increase in the supply of high-resolution organic light emitting diode (OLED) displays at lower cost. We believe the start of OLED display manufacturing this year at BOE’s $150 million state-of-the-art facility will address this situation. In fact, we see a strong parallel to the ramp of the LED market, where large volume Chinese manufacturers drove down the cost and led to wide-spread adoption. We believe the scale of the BOE and other facilities can create this same pricing trend, which will help stimulate new applications in consumer VR.

“We enter 2019 with strong military and industrial programs in place, while our development efforts will focus on commercializing our Lightning OLED products. We are excited about both the short and long term opportunities ahead for Kopin,” concluded Dr. Fan.

For earnings history and earnings-related data on Kopin Corp (KOPN) click here.

You May Also Be Interested In

• Amphenol (APH) Tops Q1 EPS by 7c, offers guidance
• Canadian Pacific Kansas City (CP) Tops Q1 EPS by 93c
• Norfolk Southern (NSC) Misses Q1 EPS by 12c