Kopin Corporation (KOPN) is up 9.23% in the after-hours trading session at the price of $5.92 despite any recent news.
KOPN Reported Solid Results for Second Quarter 2021
On 3rd August 2021, KOPN provided updates on its business initiatives and announced financial results for the second quarter ended 26th June 2021. Total revenues reported for the second quarter ended 26th June 2021 were $9.9 million. Total revenues were $8.8 million for the second quarter ended 27th June 2020, a 12% gain year over year. Net loss attributable to KOPN was $3.8 million or $0.04 per share for the second quarter of 2021. Net loss was $1.1 million or $0.01 per share for the same quarter of 2020.
CEO of KOPN, John C.C. Fan, stated that they are satisfied with their second-quarter results. They have encountered a growing demand for their products across their chief business segments, including defense, enterprise, and consumer. In their defense business, two development programs have entered low-rate initial production (LRIP). They expect another program to enter LRIP in the fourth quarter of 2021, he added. Their F-35 Joint Strike Fighter program, which they announced during this quarter, remains strong. During the second quarter of 2021, they have reduced shipment of their products for FWS-I thermal weapon sight systems. They are working closely with them and expect the lower shipment rate to continue during the third fiscal quarter and increase in the fourth fiscal quarter of 2021. Despite this short-term slowdown, the program remains very strong. They expect a follow-on order in the third quarter of 2021, he further remarked.
Multiyear Development Agreement with a Leading Japanese Company
On 15th July 2021, KOPN published that it had signed a multi-year agreement with a leading Japanese electronics company. This company develops and produces advanced consumer products to manufacture super bright 2K x 2K full-color Light Emitting Diode (LED) micro displays on silicon. Under the terms of the agreement, KOPN will develop and supply its proprietary backplane silicon wafers, while its new partner will develop bonding and color conversion processes. Both companies expect to demonstrate 1″-diagonal full-color 2K x 2K LED microdisplays within 24 months. These LED microdisplays will have super high brightness, low power consumption, high contrast, and a wide viewing angle. These are ideal features for many applications, including augmented reality (AR) and mixed reality (MR).
World’s First 35,000-nit HDR Green OLED Microdisplay
On 22nd June 2021, KOPN published that it had produced the world’s first LED microdisplay with ultrahigh-brightness greater than 35,000 nits. It has a high-dynamic-range (HDR), green Organic Light Emitting Diode (OLED) microdisplay on silicon. It has specifically designed for high-performance Augmented Reality (AR) applications. This ultrabright HDR 1″-diagonal SXGA (1280 x 1024 resolution) OLED microdisplay is currently in development.
