Kopin corrects Q3 revenue to $11.7M (up 8% YoY); net loss widens to $6.1M on $3M in unusual charges

KOPIN CORP

2023-Q3 EPS reported -$0.14 revenue$35,217,000

Corrected total revenues of $11.7M, up 8% from $10.9M a year ago; defense segment revenue grew 68% YoY.
Net loss attributable to Kopin was $6.1M ($0.07 per share) vs. $2.1M loss ($0.02 per share) in Q3 2021.
Results include a $1.0M warranty charge from a vendor quality issue and a $2.0M non-cash impairment on a COVID-affected investment.
Cash and equivalents fell to $15.0M at Sept 24, 2022 from $29.3M at Dec 25, 2021; operating cash used $15.6M in nine months.
Sold 675,000 ATM shares in July 2022 for gross proceeds of $0.9M; no further ATM sales since then.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

KOPIN CORP reported the third quarter ended September 24, 2022 results: revenue $11.7 million, net income Net Loss Attributable to Kopin Corporation for the third quarter of 2022 was $6.1 million, EPS $0.07 per share.

Period: the third quarter ended September 24, 2022
Revenue: $11.7 million
Net income: Net Loss Attributable to Kopin Corporation for the third quarter of 2022 was $6.1 million
EPS: $0.07 per share
Result: reported results

Exact text from the filing

Total revenues for the third quarter ended September 24, 2022 were $11.7 million, compared to $10.9 million for the third quarter ended September 25, 2021, an 8% year-over-year increase.

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Source: SEC EDGAR

accession 0001157523-22-001468

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