Kopin Corp. Says Restructuring Initiatives To Impact Revenues

(RTTNews) - Kopin Corporation (KOPN), a provider of application-specific optical solutions, said on Thursday that its recent restructuring initiatives will impact its fourth-quarter and fiscal 2023 revenues.

Commenting on the restructuring measures, Michael Murray, Kopin's Chief Executive Officer, said: "In select situations, we are negotiating potential exits from non-profitable endeavors, if they cannot be rectified."

For the final quarter, the company expects revenue of around $11 million to 11.5 million.

For the final quarter of 2021, Kopin had generated revenue of $13.20 million.

In addition, the company also projects lesser revenue in the first quarter of 2023, and for the remainder of the year.

On January 5, the company announced a restructuring, which included the partial spinout of its OLED development unit and a reduction in force.