Kopin Corp. loses $11.3M in Q1

The stock price for Westborough wearable technology and optical solutions manufacturer Kopin Corp. was trading down 4% Tuesday as first quarter revenues decreased and net loss doubled. 

Net loss for the first quarter was $11.3 million compared to $5.5 million for the prior year period. Revenues dropped from $5 million to $4.6 million.

The company’s stock price was trading for around $1.20 per share Tuesday morning on the NASDAQ. 

Despite the dip, the company highlighted several key developments it believes position it well for 2019.

Those include a significant follow-on purchase order from a large U.S. customer, design wins for industrial headsets and several military applications.

The company raised $8.8 million during the quarter.