RTTNews | Mar 2, 2021 10:01AM EST

10:01 Tuesday, March 2, 2021 (RTTNews.com) - Shares of Kopin Corp. (KOPN) are gaining over 18% on Tuesday morning after the company reported a surprise profit of the fourth quarter with revenues jumping 60%.

KOPN is currently trading at $10.91, up $1.71 or 18.59%, on the Nasdaq.

Kopin reported fourth-quarter profit of $1.3 million or $0.02 per share, compared to a loss of $7.3 million or $0.09 per share last year. Analysts polled by Thomson Reuters expected a loss of $0.01 per share.

Revenues for the fourth quarter surged 60% to $13.9 million from $8.7 million last year. Analysts had a consensus revenue estimate of $9.33 million. Revenues were driven by defense products revenue growth of 112% in the quarter.

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