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- Kopin Corp (NASDAQ:KOPN) reported a first-quarter FY23 revenue decline of 7% year-on-year to $10.8 million, beating the consensus of $9.8 million.
- Revenues from Defense Applications grew by 35% Y/Y to $6.4 million, while Industrial Applications decreased by 39% Y/Y to $1.0 million.
- Product revenues increased by 17.6% Y/Y to $7.7 million, while R&D revenues fell 41% Y/Y to $2.9 million.
- EPS loss of $(0.03) is in line with the consensus.
- The company held $29.6 million in cash and equivalents.
- CEO Michael Murray said, "We believe we are slightly ahead of our strategic initiatives and goals of cash flow breakeven by year-end, which are the bedrock for significant and sustainable revenue and profitable growth in 2024."
- Price Action: KOPN shares traded higher by 6% at $1.06 on the last check Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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