Kopin Corporation Provides Preliminary 2014 Revenue Results Exceeding Expectations
January 07 2015 - 9:00AM
Business Wire
Company On Track For Aggressive Implementation of Wearables
Strategy in 2015
Kopin Corporation (NASDAQ:KOPN), a leading developer of
innovative wearable computing technologies and solutions, today
provided a preliminary update on its business initiatives and
revenues for the fiscal year ended December 27, 2014.
Kopin expects revenue for fiscal year 2014 to be at least $30.0
million, significantly above the Company's previously stated
guidance of $24.0 million to $28.0 million.
“2014 was a solid year as we finished with strong revenues and
established Kopin as a leading provider of wearable
technologies,” said Dr. John Fan, Kopin’s President and Chief
Executive Officer. “We made strong progress in developing critical
components and solutions for Wearables. We have completed the
construction of new product line capabilities at our Westborough
location, providing the promised additional production capacity. We
are now aggressively hiring to staff this site and meet the growing
demand for our wearable products and solutions. Meanwhile, we made
significant progress with some of the world’s leading players in
the growing wearables space and we look for these partnerships to
begin bearing fruit this year.”
Dr. Fan continued, “We are very excited about Kopin’s
opportunity as we are uniquely positioned with our products,
wearable system know-how and strong IP portfolio to capitalize on
this huge, emerging market. Perhaps most importantly, we look for
our revenues from wearable customers to ramp significantly in
2015.”
About Kopin
Kopin is a leading developer and provider of innovative
wearable technologies and solutions. Kopin’s technology portfolio
includes ultra-small displays, optics, speech enhancement
technology, software, low-power chipsets, and ergonomically
designed headset computing systems. Kopin's proprietary
components and technology are protected by more than 250 global
patents and patents pending. For more information, please
visit Kopin's website at www.kopin.com.
Kopin, Pupil and Golden-i are trademarks of Kopin
Corporation.
Forward-Looking Statements
Statements in this news release may be considered
“forward-looking” statements under the “Safe Harbor” provisions of
the Private Securities Litigation Reform Act of 1995. These
include, without limitation, statements relating to construction of
additional production capabilities at Kopin Corporation’s (“we”,
“our” or “the Company”) Westborough site; the Company’s
expectation that its full-year 2014 revenue will be at least $30
million; and our belief that wearables revenues will ramp
significantly in 2015. These statements involve a number of risks
and uncertainties that could cause actual results to differ
materially from those expressed in the forward-looking statements.
These risks and uncertainties include, but are not limited to, the
following: it may take longer than the Company estimates to develop
products; the Company’s products may not be accepted by the
market place; the Company’s 2014 and 2015 financial expectations
may turn out to be wrong; there may be issues that prevent the
adoption or further development of the Company’s wearable computing
technologies; manufacturing, marketing or other issues may
prevent either the adoption or acceptance of products; the Company
might be adversely affected by competitive products and pricing;
new product initiatives and other research and development efforts
may be unsuccessful; the Company could experience the loss of
significant customers; costs to produce the Company’s products
might increase significantly, or yields could decline; the
Company’s customers might be unable to ramp production volumes of
its products, or the Company’s product forecasts could turn out to
be wrong; manufacturing delays, technical issues, economic
conditions or external factors may prevent the Company from
achieving its financial guidance; and other risk factors and
cautionary statements listed in the Company’s periodic reports and
registration statements filed with the Securities and Exchange
Commission, including the Annual Report on Form 10-K for the 12
months ended December 27, 2014, and the Company’s subsequent
filings with the Securities and Exchange Commission. You
should not place undue reliance on any forward-looking statements,
which are based only on information currently available to the
Company and speak only as of the date on which they are made. The
Company undertakes no obligation to update any of these
forward-looking statements to reflect events or circumstances
occurring after the date of this release.
Kopin CorporationRichard Sneider, 508-870-5959Treasurer and
Chief Financial OfficerRichard_Sneider@kopin.comorMarket Street
PartnersJacob Moelter,
415-445-3235jmoelter@marketstreetpartners.com
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