Kopin Registers 5.2% Revenue Decline In Q4 Reflecting Lower Defense Product Revenue

Kopin Corp KOPN reported a fourth-quarter FY21 revenue decline of 5.2% year-on-year to $13.2 million, beating the consensus of $12.8 million.
Revenues from Defense Applications declined 21.3% Y/Y to $5.9 million, while Industrial/Enterprise Applications rose 35.3% Y/Y to $2.3 million.
Product revenues declined 6.9% Y/Y to $8.8 million, while R&D revenues grew 12% Y/Y to $4.3 million.
The EPS loss of $(0.04) missed the consensus loss of $(0.03).
The company held $29.3 million in cash and equivalents.
"We are pleased with our full-year 2021 results, with revenue increasing $5.5 million, or 14%, year over year while fourth-quarter revenues decreased 5%, reflecting lower defense product revenue partially offset by increased industrial/enterprise and research & development (R&D) revenue. We have continued to see growing demand across all key product lines, with our Industrial product line driving growth in 2021," said Dr. John C.C. Fan, CEO.
Price Action: KOPN shares traded lower by 9.09% at $2.30 in the premarket on the last check Tuesday.

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