Kopin reports Q1 net loss of $32.5M driven by $24.8M Blue Radios litigation accrual; product revenues up 18%

KOPIN CORP

2024-Q1 EPS reported -$0.27 revenue$207,310

Total revenues $10.0M (-7% YoY); product revenues up 18% with defense +28%, industrial -17%.
Net loss attributed to Kopin of $32.5M ($0.27 per share) vs. $2.6M loss in prior year.
Blue Radios jury verdict of $5.1M damages plus $19.7M disgorgement/exemplary; total $24.8M accrued.
Received $20.5M order for new weapon sight and $1.4M order for specialized weapon sight.
Book-to-bill 2.7:1; management expects double-digit revenue growth in 2024.

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 0.98

KOPIN CORP reported first quarter ended March 30, 2024 results: revenue $10.0 million, net income ($32.5) million, EPS ($0.27) per share.

Period: first quarter ended March 30, 2024
Revenue: $10.0 million
Net income: ($32.5) million
EPS: ($0.27) per share
Result: reported results

Exact text from the filing

Total revenues for the first quarter ended March 30, 2024, were $10.0 million, compared to $10.8 million for the first quarter ended April 1, 2023, a 7% decrease.

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Source: SEC EDGAR

accession 0001493152-24-019086

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