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Kopin Cp Down 16.90% To $1.57 After Earnings Miss

Tuesday, August 02, 2022 12:46 PM | InvestorsObserver Analysts

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Kopin Cp Down 16.90% To $1.57 After Earnings Miss

Kopin Corporation (KOPN) reported less than expected earnings this morning for Q2 2022.

Analyst expectations for Kopin Cp earnings per share (EPS) were at a loss of $0.03 per share, with the company missing those estimates with a reported EPS loss of $0.06 per share, leading to a negative surprise of $0.03 per share (-100%). Kopin Cp's earnings were down 50% year-over-year as the firm reported an EPS loss of $0.04 per share in its year-ago quarter. The negative annual growth shows the Technology company isn't performing well amid current economic conditions.

Revenues were downbeat at $11.9 million. That is an increase of 20.23% in revenues from the year-ago report and is 5.18% lower than consensus estimates set at $12.6 million.

The stock is down 16.90% to $1.57 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Kopin Cp a Bullish Sentiment Rank from InvestorsObserver.

Kopin Cp has performed a little below average during the past few months. Before the report, Kopin Cp received a Long-Term Technical Rank by InvestorsObserver of 47, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $1.02 on June 16, 2022 and set a 52-week high on November 5, 2021 at $7.02.

Kopin Corp is a developer, manufacturer and seller of components, subassemblies, head-worn and hand-held systems. It serves for soldier, avionic, armored vehicle and training and simulation military applications and others. The company's product portfolio includes LCD; ferroelectric liquid crystal on silicon devices (FLCoS); Organic Light Emitting Diodes (OLED) and others. Geographically, it derives a majority of revenue from the Americas and also has a presence in Asia-Pacific; Europe and Other Countries.

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