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Kopin fiscal Q1 loss widens 14.3% YOY

Kopin Corp. said its normalized net income for the fiscal first quarter ended March 26 amounted to a loss of 7 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 9 cents per share.

The per-share loss grew 12.7% year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $4.3 million, compared with a loss of $3.7 million in the prior-year period.

The normalized profit margin declined to negative 69.2% from negative 43.6% in the year-earlier period.

Total revenue fell 28.7% on an annual basis to $6.1 million from $8.6 million, and total operating expenses declined 14.3% on an annual basis to $12.4 million from $14.5 million.

Reported net income came to a loss of $7.0 million, or a loss of 11 cents per share, compared to a loss of $3.8 million, or a loss of 6 cents per share, in the year-earlier period.