Kopin Corp (KOPN) reported an increased loss for its first quarter compared to last year, falling short of Wall Street expectations.
The company's earnings for the quarter amounted to a loss of $32.55 million, or $0.27 per share, compared to a loss of $2.63 million, or $0.03 per share, in the first quarter of the previous year.
Analysts had, on average, projected the company would report a loss of $0.05 per share, based on data compiled by Thomson Reuters. It is important to note that analysts' estimates typically exclude special items.
Revenue for the quarter dropped by 6.8%, falling to $10.03 million from $10.76 million in the same period last year.
Kopin Corp's earnings summary (GAAP):
- **Earnings (Q1):** -$32.55 million vs. -$2.63 million last year.
- **EPS (Q1):** -$0.27 vs. -$0.03 last year.
- **Revenue (Q1):** $10.03 million vs. $10.76 million last year.
