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Kopin Corp. lost $9.2M in Q2 due to slow military business ramp up

Westborough wearable computer technology manufacturer Kopin Corp. is expecting its 2018 revenues to miss the mark after reporting a $9.2-million loss in the second quarter.

The company has now lost $14.7 million halfway through the year, compared to a $15.2-million loss for the first six months of last year.

Second quarter revenues of almost $4.8 million were down from the nearly $5 million in the second quarter 2017, but full-year revenues were about $600,000 up from the $8.9 million reported in the first six months of 2017.

However, the company is expecting full-year revenues to be lower than expected between $30 million and $35 million rather than up to $40 million, which was previously forecasted.

The company said it received its first production orders for a weapons sights program. That first order will begin shipping in October, but the company said that will happen several months later than originally thought.

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However, the program is expected to be a $100-million revenue opportunity for Kopin, CEO John Fan said in a statement. 

Fan also found positives to take from the U.S. Department of Defense and defense contractor Lockheed Martin reaching an agreement for a new order of F-35 fighter jets, of which Kopin is the sole supplier of displays for pilots’ helmets.

That program is another potential $100-million long-term revenue opportunity for Kopin, Fan said.

– Digital Partners -

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