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Selected Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 26, 2020

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Information (Unaudited)

16. Selected Quarterly Financial Information (Unaudited)

The following tables present Kopin’s quarterly operating results for the fiscal years ended December 26, 2020 and December 28, 2019. The information for each of these quarters is unaudited and has been prepared on the same basis as the audited consolidated financial statements. In the opinion of management, all necessary adjustments, consisting only of normal recurring adjustments, have been included to present fairly the unaudited consolidated quarterly results when read in conjunction with Kopin’s audited consolidated financial statements and related notes. These operating results are not necessarily indicative of the results of any future period.

Quarterly Periods During Fiscal Year Ended December 26, 2020:

(in thousands, except per share data)	Three months ended March 28, 2020			Three months ended June 27, 2020			Three months ended September 26, 2020			Three months ended December 26, 2020
Total revenue	$	7,878		$	8,815		$	9,513		$	13,922
Gross profit ⁽²⁾		271			1,891			1,662			3,295
(Loss) income from operations		(3,541	)		(1,095	)		(1,108	)		981
Net (loss) income attributable to the controlling interest		(3,596	)		(1,122	)		(957	)		1,263
Net (loss) income per share ⁽¹⁾:
Basic	$	(0.04	)	$	(0.01	)	$	(0.01	)	$	0.02
Diluted	$	(0.04	)	$	(0.01	)	$	(0.01	)	$	0.02
Weighted average number of common shares outstanding:
Basic		82,536			82,569			82,596			81,689
Diluted		82,536			82,569			82,596			82,196

(1)	Net loss per share is computed independently for each of the quarters presented; accordingly, the sum of the quarterly net income per share may not equal the total computed for the year.
(2)	Gross profit is defined as net product revenues less cost of product revenues.

Quarterly Periods During Fiscal Year Ended December 28, 2019:

(in thousands, except per share data)
Three months
ended
March 30,

2019

Three months
ended
June 29,

2019⁽³⁾
Three months
ended
September 28, 2019 Three months
ended
December 28, 2019

Total revenue $ 5,543 $ 9,110 $ 6,139 $ 8,727

Gross profit ⁽²⁾ (1,263 ) (808 ) 265 1,188

Loss from operations (11,584 ) (4,838 ) (6,402 ) (3,556 )

Net loss attributable to the controlling interest (11,331 ) (4,260 ) (6,625 ) (7,290 )

Net loss per share ⁽¹⁾:

Basic and diluted $ (0.15 ) $ (0.05 ) $ (0.08 ) $ (0.09 )

Weighted average number of common shares outstanding:

Basic and diluted 74,969 81,950 82,054 82,155

(1) Net loss per share is computed independently for each of the quarters presented; accordingly, the sum of the quarterly net income per share may not equal the total computed for the year.

(2) Gross profit is defined as net product revenues less cost of product revenues.

(3) Includes $3.5 million revenue from licensing functional IP for the three month period ended June 29, 2019.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)