Friday, May 30, 2008

Kopin wins a stay from Nasdaq delisting

By Mass High Tech Staff

Electronics component maker Kopin Corp. has appealed a delisting decision by the Nasdaq Listing Qualification Staff, which has been stayed until the July 17 hearing.

Kopin (Nasdaq: KOPN) announced its potential delisting on May 19 following a Nasdaq Staff Determination Letter it received indicating Kopin’s late filing of its quarterly report on Form 10-Q for Q1. The company has since reported Q1 total revenue of $29.2 million, up from $18.1 million in Q1 2007.

The July 17 hearing will determine both Kopin’s compliance with the issues presented by the Nasdaq Listing Qualification Staff and its long-term compliance ability.

Taunton-based Kopin makes liquid crystal displays and III-V heterojunction bipolar transistors for consumer and military applications. In May, the company won a solar cell development contract with NASA. In April, Kopin secured the first of three phases for a contract with the U.S. Army to improve its CyberDisplay SXGA LVR microdisplay. In that same month, Koping extended its supplier deal with SkyWorks Solutions Inc. to provide heterojunction bipolar transistors until 2010.