- Kopin Corp (NASDAQ: KOPN) reported second-quarter FY22 revenue growth of 20% year-on-year of $11.9 million, missing the consensus of $12.6 million.
- Revenues from Defense Applications grew by 86.8% Y/Y to $7.1 million, while Industrial Applications decreased 38.5% Y/Y to $1.6 million.
- Product revenues grew 29.9% Y/Y to $9 million, driven by an 87% Y/Y increase in defense product revenues, while R&D revenues fell 2.4% Y/Y to $2.9 million.
- EPS loss of $(0.06) missed the consensus loss of $(0.03).
- The company held $18.6 million in cash and equivalents.
- "We had a good second quarter with overall revenues up 20% over the second quarter of last year, which were driven by the strong 30% year-over-year growth of product revenue," said Dr. John C.C. Fan, Kopin's CEO. "We achieved this growth while at the same time managing through the intermittent supply chain disruptions for some of our materials. We believe the supply issues are getting better, though they are not over."
- Price Action: KOPN shares traded lower by 7.36% at $1.75 on the last check Tuesday.
Read at Benzinga