Projo Biz Blog

Kopin Corp., based in Taunton, said its directors have authorized the repurchase of up to $15 million of the company's common stock.

Kopin plans to finance the repurchase program with available cash. The company plans to buy shares in the open market or through privately negotiated transactions from time to time, subject to market conditions.

Kopin has approximately 67.8 million shares of common stock. Yesterday, Kopin's stock (KOPN:NASDAQ) closed at $2.13 a share.

"We believe our stock is currently undervalued," said Kopin president and
chief executive officer John C.C. Fan. "We see this repurchase program as a prudent use of capital that underscores our commitment to building long-term value for our shareholders. With nearly $92 million in cash and equivalents on our balance sheet as of September 27, and no long-term debt, we have ample financial resources to fund this program while continuing to execute our growth strategy.

Kopin produces lightweight, power-efficient, ultra-small liquid crystal displays for consumer and military applications.

 Tags  Kopin stock repurchase

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