Kopin Corporation (NASDAQ:KOPN) filed a SEC update on 21st March, which called out consolidated numbers for its 4Q and full year 2013 operations. The highlights of the report are as follows.
The company has been working through a strategic plan which is designed to transition the firm into a leader amongst its peers. It anticipates that the technology demonstrated recently by the launch of its new “smart eyewear device” would lead to a big jump in its quarter revenues by 2015.
Highlighting the progress the company has made over the past few quarters, Kopin Corporation (NASDAQ:KOPN) President and Chief Executive Officer Dr. Fan, Kopin has been quoted to have said that, “In February we hosted our first wearable technology event to give our current and potential customers, analysts and shareholders an opportunity to see the results of our transformation efforts over the last year. Based on the large turn-out, favorable press reports and positive comments we received, the event was a huge success.”
Strong Guidance For 2014
Kopin Corporation (NASDAQ:KOPN) expects its 2014 revenue to come in the range of $18 to $22 million and hopes to bring down its net loss from operations for the full year to be in the range of $32 to $40 million. In order to continue its R&D operations, it has set aside $30 to $35 million as operational expenses for the full year.
Fourth Quarter Results
For the fourth quarter, the company reported revenue of $5.5 million as against the $8.6 million that the company had reported in 4Q12. The dip in revenue has been linked to the decrease in the demand for its military apps from the defence forces. It also took a hit of $1.5 million as write down of its intangible assets. Net loss in 4Q came in at $9.7 million or 16 cents per share loss.