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Moreover, Kopin announced financial results for the second quarter ended June 25, 2011. Total reve- nues increased 4% to $31.4 million from $30.2 million for the same quarter of last year. III-V reve- nue increased to $16.0 million, compared with $15.9 million in the second quarter of 2010. Dis- play revenue increased to $15.4 million from $14.3 million for the same quarter last year. Gross margin increased to $10.5 million, or 35% of product reve- nues, compared with $7.3 million, or 25% of product revenues, for the comparable period of 2010.
Operating expenses were $31.0 million in the se- cond quarter of 2011, compared with $30.9 million in the second quarter of 2010. R&D expenses were $7.1 million, or 23% of revenues, compared with $4.9 million, or 16 percent of revenues, in the se- cond quarter of 2010, reflecting Kopin’s investments in its Golden-i technology, III-V smartphone products and capacity expansion, military display products, and the inclusion of Forth Dimension Display’s (FDD) expenses. Selling, general and administration (S,G&A) expenses were $4.7 million in the second quarter of 2011, compared with $4.2 million for the same period of last year. The increase in S,G&A expenses is attributable to the inclusion of FDD’s expenses.
Net income was $0.8 million, or $0.01 per diluted share, for the second quarter of 2011 compared with $1.9 million, or $0.03 per diluted share, for the second quarter of 2010. Net income for the second quarter of 2010 included a $1.9 million gain from the sale of investments and a $0.7 million gain related to foreign currency fluctuations. Kopin’s 2011 second quarter results included a net gain of $0.4 million from the sale of investments and a net loss of
$0.3 million from foreign currency fluctuations.
Kopin’s cash and marketable securities balance at the end of the second quarter was $99.3 million and no long-term debt.
“With revenues for the first six months of 2011 at $66 million and the third and fourth quarters traditi- onally our strongest, we are on course to achieve our full-year revenue guidance of $130 million to $140 million,” Kopin President and Chief Executive Officer Dr. John C.C. Fan said. “Robust smartphone demand should continue to fuel our III-V business, just as the TWS-IIB and a number of military R&D programs are expected to generate momentum for our display unit.”
agForce Nanotechnologies AG (FSE:MF6), announced that the Charité-Universitätsme-
dizin Berlin published the establishment of its Nano- Therm®
therapy center for the treatment of recurrent
brain tumors on: http://www.charite.de/en/charite/press/press_reports/ar-
tikel/detail/charite_etabliert_nanothermR_therapie_bei_ru- eckfaellen_von_gehirntumoren/
“I am pleased that we have accomplished this first step in making NanoTherm®
therapy available to
brain tumor patients,” said Dr. Peter Heinrich, CEO of MagForce. “There have been many challenges associated with introducing a completely new thera- peutic approach to the medical community; therefo- re, the initial rollout has taken longer than expected.
11-06/07 :: June/July 2011