Kopin Corp. announced the opening of its first Wearable Tech Center in Silicon Valley. Building on Kopin's leading edge in wearable computer solutions and components, the Wearable Tech Center will help drive development and innovation in voice- and gesture-based technologies and hardware components. The Silicon Valley location of the Center will further enhance Kopin's collaboration with customers and improve their development cycles. Equipped with acoustic test chambers and measurement systems to provide a full range of acoustic and audio testing, the Center will focus on enhanced speech technology development and evaluation, low-power integrated circuit design, concept system design, and customer support activities. The Center will be staffed with a team of experts from the group that developed Kopin's Golden-i(R) wearable headset concept systems, a newly formed speech enhancement group, and integrated circuit designers from e-MDT America Inc., Kopin's most recent acquisition. The Kopin Wearable Tech Center will be located at 2041 Mission College Blvd., Santa Clara, California. In addition to being used as Corporate Headquarters, Kopin's existing facility in Westborough, Massachusetts will focus on developing and manufacturing displays and modules. Kopin's Scotts Valley, California office will focus on developing Government Systems.

Kopin Corp. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company announced revenues of $6,319,084 compared to $10,866,030 for the same period a year ago. Loss from operations was $9,641,994 compared to $3,494,082 for the same period a year ago. Loss before benefit (provision) for income taxes, equity loss in unconsolidated affiliate and net loss from non-controlling interest was $11,773,410 compared to $2,458,496 for the same period a year ago. Income from continuing operations was $1,167,502 or $0.02 per basic and diluted share compared to loss from continuing operations of $2,712,191 or $0.04 per basic and diluted share for the same period a year ago. Net income was $21,364,390 compared to net loss of $2,466,491 for the same period a year ago. Net income attributable to the company was $21,633,809 or $0.34 per basic and diluted share compared to net loss attributable to the company of $2,577,727 or $0.04 per basic and diluted share for the same period a year ago. Total revenues were primarily reflecting a decline in sales of display products for military applications. The company provided earnings guidance for the full year of fiscal 2013. The company continues to expect full-year 2013 revenue in the range of $18 million to $22 million. In light of the company's expectation that it will incur significant operating expenses to advance its critical components and license concept systems for wearable computing products, Kopin currently expects a consolidated net loss in the range of $19 million to $23 million for 2013, excluding the gain on the sale of the III-V product line and investment in KTC and write-downs of investments. The company expects depreciation to be about $4 million and CapEx in the range of $2 million to $3 million.

Kopin Corp., Q1 2013 Earnings Call, May 08, 2013