Kopin to Repurchase $15M in Stock
Wade Roush12/9/08
Kopin Corp. (NASDAQ: KOPN), a Taunton, MA, semiconductor manufacturer that makes tiny LCD displays for devices such as MyVu’s wearable displays, said yesterday that it plans to use cash on hand to buy back up to $15 million in company stock. Kopin CEO John Fan said in a statement that the company believes its stock (which is trading today in the neighborhood of $2.14 per share) is “currently undervalued” and that the repurchase program is “a prudent use of capital that underscores our commitment to building long-term value for our shareholders.”
Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can e-mail him at wroush@xconomy.com or follow him on Twitter at twitter.com/wroush.
