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IPG Photonics expects revenues in the range of $69 million to $75 million for the third quarter of 2010. The Company anticipates earnings per diluted share in the range of $0.19 to $0.25 based on 47,333,000 common shares, which includes 46,220,000 basic common shares outstanding and 1,113,000 potentially dilutive options at June 30, 2010. The EPS guidance includes higher planned legal expenditures related to the IMRA America patent trial scheduled to begin in August 2010.
The Company has also announced that all claims related to the CardioFocus patent litigation have been settled by mutual agreement. The settlement will have no effect upon the financial results of the Company.
Kopin III-V Sales Leapfrog Display Sales in Q2 2010
The company’s III-V sales brought in 53.6% of the $30.2 million revenue, mainly due to robust smartphone demand ; Kopin has also extended its purchase and supply agreement with Skyworks .
Kopin Corporation has announced financial results for the second quarter ended June 26, 2010.
“The positive momentum we experienced during the first quarter continued as we reached the mid-point of 2010,” said Kopin President and CEO, John C.C. Fan. “Within our CyberDisplay product line, revenue from military applications increased sequentially in the second quarter as anticipated, while in our III-V product line global demand for smartphones powered a more than 50% year-over-year increase. These results highlight the strategic importance of Kopin’s proprietary high-performance technology and industry leading quality.”
Gross margins as a percentage of product sales were 25.0% for the second quarter of 2010, down slightly from 25.7% for the second quarter of 2009 due to lower military sales, which have a higher gross margin than other display products.
Net income for the second quarter of 2010 was $1.9 million, or $0.03 per diluted share, compared with net income of $3.7 million, or $0.05 per diluted share, for the comparable period in 2009. Financial results for the second quarter of 2010 included a $1.9 million investment gain from the sale of securities and a $0.7 million gain related to foreign currency fluctuations. Financial results for the three months ended June 27, 2009 included a $1.5 million gain from the sale of certain patents that the Company no longer uses and a $0.7 million loss related to foreign currency fluctuations.
As of June 26, 2010, Kopin had cash and marketable securities of $115.3 million, an increase of approximately $0.8 million from December 26, 2009. The increase in cash and marketable securities is primarily attributable to $1.1 million
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www.compoundsemiconductor.net August/September 2010
Total sales increased 7.0% to $30.2 million in the second quarter of 2010 from $28.2 million for the comparable period in 2009. Display revenue was $14.3 million in the second quarter of 2010 compared with $17.9 million in the same period of 2009 while revenues for the III-V product family increased 53.6% to $15.9 million from $10.4 million in the same period of 2009.
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