Revenue during the quarter dropped 28.45 percent to $4.38 million from $6.12 million in the previous year period. Gross margin for the quarter expanded 469 basis points over the previous year period to 28.93 percent.

Operating loss for the quarter was $8.65 million, compared with an operating loss of $6.32 million in the previous year period.

“We continued to make strong progress in the first quarter as we shift our focus from development to commercialization of our optics, displays, and system technology for virtual reality (VR) and augmented reality (AR),” said John C.C. Fan, president and chief executive officer of Kopin. “Goertek has completed its $24.6M investment in Kopin’s common stock. Furthermore, our partnership with Goertek, the leading manufacturer of wearable systems globally, is on track to produce three headsets by year end 2017. These headsets will include a combination of our Pupil™ optics, Pearl™ optics and Whisper™ voice technology. Goertek is also working with us to include our innovative components in other wearable systems as they work with many global companies. In addition we are delighted that our Solos™ cycling headset is shipping to our Kickstarter customers and the preliminary response has been very positive. We are now working with Goertek on the next generation of Solos to advance the capabilities of the cycling version as well as adjusting the configuration to target other fitness applications such as running.