Kopin Clocks 14% Revenue Growth In Q3, Tops Consensus

Kopin Corp KOPN reported third-quarter FY21 revenue growth of 14% year-on-year to $10.9 million, beating the consensus of $10.3 million.
Revenues from Defense Applications declined to $3.8 million, while Industrial Applications rose to $2.7 million.
Net product revenues grew 1.6% Y/Y to $6.6 million. Research and development and other revenues expanded 42% Y/Y to $4.3 million.
Non-GAAP EPS loss of $(0.02) beat the consensus loss of $(0.04).
The company used $3.5 million in operating cash flow and held $31.8 million in cash and equivalents.
"We had strong third-quarter results, with revenues increasing 14% year over year, reflecting growing demand across our key markets, including defense, industrial, and consumer," CEO Dr. John C.C. Fan said.
Price Action: KOPN shares closed higher by 2.95% at $5.93 Tuesday.

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