Kopin (KOPN) 10-Q 6 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 27, 2015	Aug. 04, 2015
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 27, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	KOPN
Entity Registrant Name	KOPIN CORP
Entity Central Index Key	771,266
Current Fiscal Year End Date	--12-26
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		66,546,101

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 27, 2015	Dec. 27, 2014
Current assets:
Cash and equivalents	$ 16,477,501	$ 14,635,801
Marketable debt securities, at fair value	71,843,061	76,223,135
Accounts receivable, net of allowance of $191,000 and $266,000 in 2015 and 2014, respectively	8,315,054	3,758,832
Costs in Excess of Billings, Current	142,460	43,492
Inventory	3,065,712	4,081,886
Prepaid taxes	155,010	378,637
Prepaid expenses and other current assets	698,319	802,837
Notes, Loans and Financing Receivable, Gross, Current	14,966,671	0
Total current assets	115,663,788	99,924,620
Property, plant and equipment, net	4,107,309	4,589,421
Goodwill	984,158	976,451
Intangible assets, net	308,380	616,759
Other assets	2,943,350	1,900,828
Accounts and Notes Receivable, Net	0	14,933,335
Total assets	124,006,985	122,941,414
Current liabilities:
Accounts payable	4,778,554	5,503,734
Accrued payroll and expenses	1,828,292	1,985,691
Accrued warranty	716,000	716,000
Billings in excess of revenue earned	3,522,416	586,471
Other accrued liabilities	3,111,810	3,169,028
Deferred Tax Liabilities, Net, Current	1,282,000	1,282,000
Total current liabilities	15,239,072	13,242,924
Asset retirement obligations	$ 314,812	$ 311,187
Commitments and contingencies
Stockholders' equity:
Preferred stock, par value $.01 per share: authorized, 3,000 shares; none issued	$ 0	$ 0
Common stock, par value $.01 per share: authorized, 120,000,000 shares; issued 78,473,358 shares in 2015 and 77,731,604 shares in 2014; outstanding 63,296,989 shares in 2015 and 63,077,715 shares in 2014	753,992	751,832
Additional paid-in capital	326,425,178	324,625,694
Treasury stock (12,102,258 shares in 2015 and 2014, respectively, at cost)	(42,741,551)	(42,741,551)
Accumulated other comprehensive income	3,528,254	3,126,239
Accumulated deficit	(178,972,274)	(175,915,255)
Total Kopin Corporation stockholders' equity	108,993,599	109,846,959
Noncontrolling interest	(540,498)	(459,656)
Total stockholders' equity	108,453,101	109,387,303
Total liabilities and stockholders' equity	$ 124,006,985	$ 122,941,414

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Jun. 27, 2015	Dec. 27, 2014
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 191,000	$ 266,000
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, authorized	3,000	3,000
Preferred stock, issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized	120,000,000	120,000,000
Common stock, issued	78,473,358	77,731,604
Common stock, outstanding	63,296,989	63,077,715
Treasury stock, shares	12,102,258	12,102,258

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014
Revenues:
Net component revenues	$ 9,486,723	$ 4,906,663	$ 16,615,093	$ 9,134,422
Research and development revenues	1,369,883	2,036,624	2,826,505	2,503,634
Total revenues	10,856,606	6,943,287	19,441,598	11,638,056
Expenses:
Cost of component revenues	6,359,780	4,153,739	11,643,513	8,379,188
Research and development	4,884,010	5,137,033	9,744,202	10,223,317
Selling, general and administration	5,108,229	4,921,194	9,494,442	9,917,993
Total expenses	16,352,019	14,211,966	30,882,157	28,520,498
(Loss) income from operations	(5,495,413)	(7,268,679)	(11,440,559)	(16,882,442)
Other income and expense:
Interest income	198,898	193,305	408,561	431,477
Other income net	25,758	200,754	45,269	260,581
Foreign Currency Transaction Gain (Loss), Realized	529,138	(674,456)	349,549	(492,706)
Gain (Loss) on Sale of Investments	5,460,399	0	7,602,820	0
Asset Impairment Charges	0	(1,319,287)	0	(1,319,287)
Total other income and expense	6,214,193	(1,599,684)	8,406,199	(1,119,935)
(Loss) income before provision for income taxes, equity losses in unconsolidated affiliates and net loss (income) attributable to noncontrolling interest	718,780	(8,868,363)	(3,034,360)	(18,002,377)
Tax provision	(12,500)	(37,000)	(25,000)	106,000
(Loss) income before equity loss in unconsolidated affiliates and net (loss) income of noncontrolling interest	706,280	(8,905,363)	(3,059,360)	(17,896,377)
Equity losses in unconsolidated affiliates	0	(122,553)	(47,443)	(224,858)
Net (loss) income	706,280	(9,027,916)	(3,106,803)	(18,121,235)
Net loss (income) attributable to the noncontrolling interest	74,690	221,973	49,784	180,876
Net (loss) income attributable to the controlling interest	$ 780,970	$ (8,805,943)	$ (3,057,019)	$ (17,940,359)
Net (loss) income per share
Earnings Per Share, Basic	$ 0.01	$ (0.14)	$ (0.05)	$ (0.29)
Earnings Per Share, Diluted	$ 0.01	$ (0.14)	$ (0.05)	$ (0.29)
Weighted average number of common shares
Basic	63,066,031	62,643,506	63,074,842	62,586,854
Diluted	63,300,781	62,643,506	63,074,842	62,586,854

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ 706,280	$ (9,027,916)	$ (3,106,803)	$ (18,121,235)
Foreign currency translation adjustments	(569,644)	947,386	(555,222)	87,787
Holding (loss) gain on marketable securities	500,602	(33,852)	1,325,524	149,589
Reclassifications of gains in net (loss) income	(21,785)	10,131	(399,345)	(3,952)
Other Comprehensive Income (Loss), Net of Tax	(90,827)	923,665	370,957	233,424
Comprehensive (loss) income	615,453	(8,104,251)	(2,735,846)	(17,887,811)
Comprehensive loss (income) attributable to the noncontrolling interest	(76,524)	143,489	(18,726)	152,474
Comprehensive (loss) income attributable to controlling interest	$ 538,929	$ (7,960,762)	$ (2,754,572)	$ (17,735,337)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - 6 months ended Jun. 27, 2015 - USD ($)	Total	Common Stock	Additional Paid-in Capital	Parent [Member]	Treasury Stock	Accumulated Other Comprehensive Income	Accumulated Deficit	Stockholders' Equity, Total [Member]	Noncontrolling Interest
Beginning Balance (in shares) at Dec. 27, 2014		75,183,207
Beginning Balance at Dec. 27, 2014	$ 109,387,303	$ 751,832	$ 324,625,694		$ (42,741,551)	$ 3,126,239	$ (175,915,255)	$ 109,846,959	$ (459,656)
Stock-based compensation	1,898,855		1,898,855					1,898,855
Adjustments to Additional Paid in Capital, Other		$ 2,275	(2,275)
Adjustments To Additional Paid In Capital Other Shares		227,500
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	$ 370,957					402,015		402,015	(31,058)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	5,142	39,798
Stock Issued During Period, Value, Stock Options Exercised	$ 86,048	$ 398	85,650			0		86,048	0
Shares Paid for Tax Withholding for Share Based Compensation		(51,258)
Payments Related to Tax Withholding for Share-based Compensation	(183,259)	$ (513)	(182,746)	$ (183,259)
Net loss	(3,106,803)						(3,057,019)	(3,057,019)	(49,784)
Ending Balance (in shares) at Jun. 27, 2015		75,399,247
Ending Balance at Jun. 27, 2015	$ 108,453,101	$ 753,992	$ 326,425,178		$ (42,741,551)	$ 3,528,254	$ (178,972,274)	$ 108,993,599	$ (540,498)

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Cash flows from operating activities:
Net (loss) income	$ (3,106,803)	$ (18,121,235)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	1,190,413	1,779,594
Accretion (amortization) of premium or discount on marketable debt securities	302,466	36,841
Stock-based compensation	2,022,043	2,362,446
Gain (Loss) on Sale of Investments	(7,602,820)	0
Losses in unconsolidated affiliates	0	102,305
Asset Impairment Charges	0	1,319,287
Deferred income taxes	0	(95,262)
Foreign Currency Transaction Gain (Loss), before Tax	(280,173)	507,792
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	0	(250,000)
Change in allowance for bad debt	74,500	14,679
Other non-cash items	1,130,162	314,335
Changes in assets and liabilities:
Accounts receivable	(4,388,730)	(1,018,638)
Inventory	(110,325)	(518,105)
Prepaid expenses and other current assets	177,843	(81,989)
Accounts payable and accrued expenses	(1,351,835)	865,328
Billings in excess of revenue earned	3,085,945	(258,189)
Net cash used in operating activities	(8,857,314)	(13,040,811)
Cash flows from investing activities:
Other assets	(8,486)	(36,455)
Capital expenditures	(651,814)	(978,037)
Proceeds from sale of marketable debt securities	12,000,622	23,861,627
Purchase of marketable debt securities	(7,777,277)	(13,106,060)
Proceeds from Sale and Maturity of Other Investments	7,330,203	0
Proceeds from Sale of Machinery and Equipment	0	250,000
Net cash provided by investing activities	10,893,248	9,741,075
Net cash used in financing activities
Treasury stock purchases	0	(298,619)
Proceeds from exercise of stock options and warrants	86,048	128,441
Payments Related to Tax Withholding for Share-based Compensation	(183,259)	0
Net cash used in financing activities	(97,211)	(170,178)
Effect of exchange rate changes on cash	(97,023)	18,575
Net increase (decrease) in cash and equivalents	1,841,700	(3,451,339)
Cash and equivalents:
Beginning of period	14,635,801	16,756,666
End of period	16,477,501	13,305,327
Supplemental disclosure of cash flow information:
Income taxes paid	50,000	70,300
Supplemental schedule of noncash investing activities:
Construction in progress included in accrued expenses	$ 228,000	$ 156,000

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 27, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting [Text Block]	BASIS OF PRESENTATION The accompanying condensed consolidated financial statements include the accounts of Kopin Corporation, its wholly-owned subsidiaries, Kowon Technology Co., Ltd. (Kowon), a majority owned ( 93% ) subsidiary located in Korea, Intoware Ltd. (Intoware), a majority owned ( 58% ) subsidiary located in the United Kingdom, and eMDT America Inc. (eMDT), a majority owned ( 80% ) subsidiary located in California (collectively, the Company). Ownership interests of Kowon, Intoware and eMDT not attributable to the Company are referred to as noncontrolling interests. All intercompany transactions and balances have been eliminated. The condensed consolidated financial statements for the three and six months ended June 27, 2015 and June 28, 2014 are unaudited and include all adjustments which, in the opinion of management, are necessary to present fairly the results of operations for the periods then ended. These condensed consolidated financial statements should be read in conjunction with the Company’s financial statements and notes thereto, included in the Company’s Annual Report on Form 10-K for the year ended December 27, 2014 . The Company ceased its production activities at its Kowon facility in 2013 , but as of June 27, 2015 the closure of this facility did not meet the criteria for assets held for sale. During the second quarter of 2014 , the Company paid approximately $0.3 million to acquire an additional 29% ownership in its eMDT subsidiary. The results of the Company's operations for any interim period are not necessarily indicative of the results of the Company's operations for any other interim period or for a full fiscal year. During the six months ended June 27, 2015 , the change in the Company's accumulated other comprehensive income was the net of $ 0.6 million foreign currency translation adjustment, $1.3 million unrealized holding gains on marketable securities and $0.4 million of reclassified holding gains.

CASH AND EQUIVALENTS AND MARKET

CASH AND EQUIVALENTS AND MARKETABLE SECURITIES	6 Months Ended
	Jun. 27, 2015
Cash and Equivalents and Marketable Securities Disclosure [Abstract]
CASH AND EQUIVALENTS AND MARKETABLE SECURITIES	CASH AND EQUIVALENTS AND MARKETABLE SECURITIES The Company considers all highly liquid, short-term debt instruments with original maturities of three months or less to be cash equivalents. Marketable debt securities consist primarily of certificates of deposit, medium-term corporate debt, and United States government and agency backed securities. The Company classifies these marketable debt securities as available-for-sale in “Marketable Debt Securities”. The Company records the amortization of premium and accretion of discount on marketable debt securities in the results of operations. The Company uses the specific identification method as a basis for determining cost and calculating realized gains and losses with respect to marketable debt securities. The gross gains and losses realized related to sales and maturities of marketable debt securities were not material during the six months ended June 27, 2015 and the year ended December 27, 2014 . Investments in available-for-sale marketable debt securities are as follows at June 27, 2015 and December 27, 2014 : Amortized Cost Unrealized Gains Unrealized Losses Fair Value 2015 2014 2015 2014 2015 2014 2015 2014 U.S. government and agency backed securities $ 55,505,053 $ 57,897,914 $ — $ — $ (39,473 ) $ (200,772 ) $ 55,465,580 $ 57,697,142 Corporate debt and certificates of deposit 16,413,099 18,564,823 — — (35,618 ) (38,830 ) 16,377,481 18,525,993 Total $ 71,918,152 $ 76,462,737 $ — $ — $ (75,091 ) $ (239,602 ) $ 71,843,061 $ 76,223,135 The contractual maturity of the Company’s marketable debt securities is as follows at June 27, 2015 : Less than One year One to Five years Greater than Five years Total U.S. government and agency backed securities $ 24,030,172 $ 23,865,571 $ 7,569,837 $ 55,465,580 Corporate debt and certificates of deposit 14,413,761 1,963,720 — 16,377,481 Total $ 38,443,933 $ 25,829,291 $ 7,569,837 $ 71,843,061 The Company conducts a review of its marketable debt securities on a quarterly basis for the presence of other-than-temporary impairment (OTTI). The Company assesses whether OTTI is present when the fair value of a debt security is less than its amortized cost basis at the balance sheet date. Under these circumstances OTTI is considered to have occurred (1) if the Company intends to sell the security before recovery of its amortized cost basis; (2) if it is “more likely than not” the Company will be required to sell the security before recovery of its amortized cost basis; or (3) the present value of expected cash flows is not sufficient to recover the entire amortized cost basis. The Company further estimates the amount of OTTI resulting from a decline in the credit worthiness of the issuer (credit-related OTTI) and the amount of non credit-related OTTI. Noncredit-related OTTI can be caused by such factors as market illiquidity. Credit-related OTTI is recognized in earnings while noncredit-related OTTI on securities not expected to be sold is recognized in other comprehensive income (loss). The Company did not record an OTTI for the three and six months ended June 27, 2015 and June 28, 2014 .

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 27, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Financial instruments are categorized as Level 1, Level 2 or Level 3 based upon the method by which their fair value is computed. An investment is categorized as Level 1 when its fair value is based on unadjusted quoted prices in active markets for identical assets that the Company has the ability to access at the measurement date. An investment is categorized as Level 2 if its fair market value is based on quoted market prices for similar assets in active markets, quoted prices for identical or similar assets in markets that are not active, based on observable inputs such as interest rates, yield curves, or derived from or corroborated by observable market data by correlation or other means. An investment is categorized as Level 3 if its fair value is based on assumptions developed by the Company about what a market participant would use in pricing the assets. The following table details the fair value measurements of the Company’s financial assets: Fair Value Measurement June 27, 2015 Using: Total Level 1 Level 2 Level 3 Cash and Equivalents $ 16,477,501 $ 16,477,501 $ — $ — U.S. Government Securities 55,465,580 17,501,563 37,964,017 — Corporate Debt 6,421,028 — 6,421,028 — Certificates of Deposit 9,956,453 — 9,956,453 — Vuzix Corporation 2,426,404 2,426,404 — — GCS Holdings 289,006 289,006 — — $ 91,035,972 $ 36,694,474 $ 54,341,498 $ — Fair Value Measurement December 27, 2014 Using: Total Level 1 Level 2 Level 3 Cash and Equivalents $ 14,635,802 $ 14,635,802 $ — $ — U.S. Government Securities 57,697,142 21,218,340 36,478,802 — Corporate Debt 5,970,983 — 5,970,983 — Certificates of Deposit 12,555,010 — 12,555,010 — Vuzix Corporation 1,500,777 1,500,777 — — GCS Holdings 180,347 180,347 — — $ 92,540,061 $ 37,535,266 $ 55,004,795 $ — The corporate debt consists of floating rate notes with a maturity that is over multiple years but has interest rates which are reset every three months based on the then current three month London Interbank Offering Rate (three month Libor). The Company validates the fair market values of the financial instruments above by using discounted cash flow models, obtaining independent pricing of the securities or through the use of a model which incorporates the three month Libor, the credit default swap rate of the issuer and the bid and ask price spread of the same or similar investments which are traded on several markets. The carrying amounts of cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate fair value because of their short-term nature. If accrued liabilities were carried at fair value, these would be classified as Level 2 in the fair value hierarchy.

INVENTORY

INVENTORY	6 Months Ended
	Jun. 27, 2015
Inventory Disclosure [Abstract]
Inventory	INVENTORY Inventory is stated at the lower of cost (determined on the first-in, first-out) or market and consists of the following at June 27, 2015 and December 27, 2014 : June 27, December 27, Raw materials $ 1,200,369 $ 2,057,202 Work-in-process 1,445,584 1,551,799 Finished goods 419,759 472,885 $ 3,065,712 $ 4,081,886

NET (LOSS) INCOME PER SHARE

NET (LOSS) INCOME PER SHARE	6 Months Ended
	Jun. 27, 2015
Earnings Per Share [Abstract]
Net (loss) Income per share	NET INCOME (LOSS) PER SHARE Basic net income (loss) per share is computed using the weighted average number of shares of common stock outstanding during the period less any non-vested restricted shares. Diluted earnings per common share, if applicable, is calculated using weighted average shares outstanding and contingently issuable shares, less weighted average shares reacquired during the period. The net outstanding shares are adjusted for the dilutive effect of shares issuable upon the assumed conversion of the Company’s common stock equivalents, which consist of outstanding stock options and non-vested restricted stock units. Weighted average common shares outstanding used to calculate earnings per share are as follows: Three Months Ended Six Months Ended June 27, 2015 June 28, 2014 June 27, 2015 June 28, 2014 Weighted average common shares outstanding-basic 63,066,031 62,643,506 63,074,842 62,586,854 Stock options and non-vested restricted common stock 234,750 — — — Weighted average common shares outstanding-diluted 63,300,781 62,643,506 63,074,842 62,586,854 The following were not included in weighted average common shares outstanding-diluted because they are anti-dilutive or performance or market conditions had not been met at the end of the period: Three Months Ended Six Months Ended June 27, 2015 June 28, 2014 June 27, 2015 June 28, 2014 Non-vested restricted common stock 1,374,000 3,383,148 3,074,111 3,383,148 Stock options — 399,600 — 399,600 Total 1,374,000 3,782,748 3,074,111 3,782,748 For the three and six month periods ended June 28, 2014 , the warrants to purchase 200,000 shares of the Company's common stock for $3.49 per share were not included in weighted average common shares outstanding-diluted. These warrants were exercised during the six month period ended June 27, 2015 .

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jun. 27, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The fair value of non-vested restricted common stock awards is generally the market value of the Company’s common stock on the date of grant. The non-vested restricted common stock awards require the employee to fulfill certain obligations, including remaining employed by the Company for one , two or four years (the vesting period) and in certain cases also require meeting either performance criteria or the Company’s stock achieving a certain price. For non-vested restricted common stock awards which solely require the recipient to remain employed with the Company, the stock compensation expense is amortized over the anticipated service period. For non-vested restricted common stock awards which require the achievement of performance criteria, the Company reviews the probability of achieving the performance goals on a periodic basis. If the Company determines that it is probable that the performance criteria will be achieved, the amount of compensation cost derived for the performance goal is amortized over the anticipated service period. If the performance criteria are not met, no compensation cost is recognized and any previously recognized compensation cost is reversed. The Company recognizes compensation costs on a straight-line basis over the requisite service period for time-vested awards. On February 13, 2015 , the Company modified the termination date of certain restricted stock grants previously made to Dr. Fan, the Company’s President and Chief Executive Officer. In 201 1, the Company granted Dr. Fan 260,000 shares of restricted stock which will vest upon the first 10 consecutive trading day period following the grant date during which the Company's common stock trades at a price equal to or greater than $5.25 , subject to acceleration upon the occurrence of an acceleration event. This grant was originally set to terminate on September 12, 2016 . In 2013 , the Company granted compensation awards to Dr. Fan that consisted of two grants of 150,000 shares of restricted stock each. One of the grants will vest at the end of the first 10 consecutive trading day period following the grant date during which the Company’s common stock trades at a price per share equal to or greater than $6.00 . The other award will vest at the end of the first 10 consecutive trading day period following the grant date during which the Company’s common stock trades at a price per share equal to or greater than $7.00 . Both are due to expire in 2023 . On December 31, 2014 , Dr. Fan entered into a 3-year employment agreement with the Company which expires on December 31, 2017 . The Company has amended each of the foregoing grants to now terminate on December 31, 2017 , to be consistent with Dr. Fan's employment agreement. A summary of stock option award activity under the equity plans as of June 27, 2015 and changes during the six month period then ended is as follows: Six Months Ended June 27, 2015 Shares Weighted Balance, December 27, 2014 130,500 $ 3.49 Options forfeited/canceled (125,358 ) 3.50 Options exercised (5,142 ) 3.16 Balance, all exercisable, June 27, 2015 — $ — Non-Vested Restricted Common Stock A summary of the activity for non-vested restricted common stock awards as of June 27, 2015 and changes during the six month period then ended is presented below: Shares Weighted Balance, December 27, 2014 2,551,631 $ 3.75 Granted 1,005,000 3.89 Forfeited (255,020 ) 3.68 Vested (227,500 ) 4.00 Balance, June 27, 2015 3,074,111 $ 3.78 During the three month period ended June 27, 2015 , the performance conditions for 50,000 awards granted in 2014 were determined and achieved. Stock-based compensation expense of approximately $222,000 has been recorded relating to this award during the three month period ended June 27, 2015 . Subsequent to the year ended December 27, 2014 , the Company identified an error in its calculation of the weighted average grant fair value of issued restricted stock outstanding as of December 27, 2014 . The Company had disclosed a weighted average grant fair value of $4.41 in its Form 10-K for the year ended December 27, 2014 , however the correct weighted average grant fair value was $3.75 . The Company has revised the amount within the period ended June 27, 2015 . Stock-Based Compensation The following table summarizes stock-based compensation expense within each of the categories below as it relates to non-vested restricted common stock awards for the six months ended June 27, 2015 and June 28, 2014 (no tax benefits were recognized): Six Months Ended June 27, June 28, Cost of component revenues $ 461,094 $ 472,213 Research and development 503,523 637,528 Selling, general and administrative 1,057,426 1,252,705 Total $ 2,022,043 $ 2,362,446 Unrecognized compensation expense for non-vested restricted common stock as of June 27, 2015 totaled $5.4 million and is expected to be recognized over a weighted average period of three years.

OTHER ASSETS AND AMOUNTS DUE TO

OTHER ASSETS AND AMOUNTS DUE TO / FROM AFFILIATES	6 Months Ended
	Jun. 27, 2015
Other Assets and Related Party Transactions Disclosure [Abstract]
OTHER ASSETS AND AMOUNTS DUE TO / FROM AFFILIATES	OTHER ASSETS AND NOTE RECEIVABLE During the second quarter of 2014 , the Company wrote-off its $1.3 million investment in Kobrite. Prior to the write-off, the Company accounted for its 12% ownership interest using the equity method. One of the Company’s directors is a member of the Board of Directors of Bright LED, principal investor of KoBrite. The Company has recorded a $14.9 million note receivable resulting from the sale of its III-V product line and its investment in KTC, which is due January 16, 2016 . The receivable is collateralized by certain assets of the buyer of the III-V product line. The buyer has outstanding debt and the repayment of the receivable is subject to the buyer remaining within its debt compliance obligations at the time of repayment. As of June 27, 2015 , the Company had an investment in GCS Holdings with a fair market value of $0.3 million and an adjusted cost basis of $0.0 million . As of December 27, 2014 , GCS Holdings had a fair market value of $0.2 million , with an adjusted cost basis of $0.0 million . As of December 27, 2014 , the Company had an investment in Vuzix Corporation (“Vuzix”) with a fair market value of $1.5 million and adjusted cost basis of $0.0 million . On February 25, 2015 , the Company acquired approximately 251,000 shares of Vuzix common stock through a cashless exercise of warrants. The Company received the warrants in August 2013 as part of a restructuring of debt owed by Vuzix to the Company. Upon receipt of the warrants, the Company should have recorded the value of the warrant of approximately $352,000 in its consolidated financial statements. Subsequently, the Company should have marked to market the warrants at the end of each reporting period. Had the Company recorded the warrants in its consolidated financial statements and marked to market the warrants as of December 28, 2013 and December 27, 2014 , the Company would have recorded gains in its statement of operations of approximately $646,000 and $171,000 , respectively. In the first quarter of 2015 , the Company recorded the warrants in its consolidated financial statements and as a result recorded a gain of approximately $1.3 million with $817,000 attributed to prior periods. The value of the warrants as of August 2013 , December 28, 2013 and December 27, 2014 was determined using the Black-Scholes pricing model. The Company does not believe the unrecorded gains were material to the consolidated financial statements as the loss from operations for the fiscal years ended December 28, 2013 and December 27, 2014 were $35.9 million and $28.5 million , respectively. As of June 27, 2015 , the Company’s investment in Vuzix had a fair market value of $2.4 million with adjusted cost basis of $0.3 million .

ACCRUED WARRANTY

ACCRUED WARRANTY	6 Months Ended
	Jun. 27, 2015
Product Warranties Disclosures [Abstract]
ACCRUED WARRANTY	ACCRUED WARRANTY The Company typically warrants its products against defect for 12 months . A provision for estimated future costs and estimated returns for credit relating to warranty is recorded in the period when product is shipped and revenue recognized, and is updated as additional information becomes available. The Company’s estimate of future costs to satisfy warranty obligations is based primarily on historical warranty expense experienced and a provision for potential future product failures. Changes in the accrued warranty for the six months ended June 27, 2015 are as follows: Balance, December 27, 2014 $ 716,000 Additions 362,000 Claim and reversals (362,000 ) Balance, June 27, 2015 $ 716,000

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 27, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s tax provision of approximately $12,500 and $25,000 for the three and six month period ended June 27, 2015 represents the net movement in estimated foreign withholding on anticipated future remitted earnings of an international subsidiary and state taxes. The Company’s tax provision of $37,000 and tax benefit of approximately $106,000 for the three and six month period ended June 28, 2014 represents a reduction in estimated foreign withholding taxes due on an international subsidiary. As of June 27, 2015 , the Company has available for tax purposes U.S. federal NOLs of approximately $70 million expiring through 2034 . The Company has recognized a full valuation allowance on its domestic and certain foreign net deferred tax assets due to the uncertainty of realization of such assets. The Company has not historically recorded, nor does it intend to record the tax benefits from stock awards until realized. Unrecorded benefits from stock awards approximate $10 million . The Company’s income tax returns have not been examined by the Internal Revenue Service and are subject to examination for all years since 2001 . State income tax returns are generally subject to examination for a period of 3 to 5 years after filing of the respective return. The state impact of any federal changes remains subject to examination by various states for a period of up to one year after formal notification to the states.

SEGMENTS AND GEOGRAPHICAL INFOR

SEGMENTS AND GEOGRAPHICAL INFORMATION	6 Months Ended
	Jun. 27, 2015
Segment Reporting [Abstract]
SEGMENTS AND GEOGRAPHICAL INFORMATION	SEGMENTS AND GEOGRAPHICAL INFORMATION The Company’s chief operating decision maker is its Chief Executive Officer. The Company has determined it has two reportable segments, FDD, the manufacturer of its reflective display products for test and simulation products, and Kopin, which is comprised of Kopin Corporation, Kowon, Intoware and eMDT. The following table presents the Company’s reportable segment results (in thousands): Three Months Ended June 27, 2015 June 28, 2014 Kopin FDD Total Kopin FDD Total Revenues $ 10,177 $ 679 $ 10,856 $ 6,007 $ 936 $ 6,943 Net income (loss) attributable to the controlling interest 853 (72 ) 781 (8,479 ) (327 ) (8,806 ) Six Months Ended June 27, 2015 June 28, 2014 Kopin FDD Total Kopin FDD Total Revenues $ 17,764 $ 1,678 $ 19,442 $ 9,909 $ 1,729 $ 11,638 Net loss attributable to the controlling interest (2,519 ) (538 ) (3,057 ) (17,103 ) (838 ) (17,940 ) Total assets 122,604 1,403 124,007 129,160 1,932 131,091 Long-lived assets 3,972 135 4,107 4,930 381 5,312 The total assets of Kopin is net of $5.3 million and $5.0 million in intercompany loans to FDD as of June 27, 2015 and December 27, 2014 , respectively. During the three and six month periods ended June 27, 2015 and June 28, 2014 , the Company derived its sales from the following geographies (as a percentage of net revenues): Three Months Ended Six Months Ended June 27, 2015 June 28, 2014 June 27, 2015 June 28, 2014 United States 77 % 52 % 75 % 47 % Others — % 1 % 1 % — % Americas 77 % 53 % 76 % 47 % Asia-Pacific 18 % 34 % 17 % 39 % Europe 5 % 13 % 7 % 14 % Total Revenues 100 % 100 % 100 % 100 %

LITIGATION

LITIGATION	6 Months Ended
	Jun. 27, 2015
Commitments and Contingencies Disclosure [Abstract]
LITIGATION	LITIGATION The Company may engage in legal proceedings arising in the ordinary course of business. Claims, suits, investigations and proceedings are inherently uncertain and it is not possible to predict the ultimate outcome of such matters and our business, financial condition, results of operations or cash flows could be affected in any particular period.

CASH AND EQUIVALENTS AND MARK19

CASH AND EQUIVALENTS AND MARKETABLE SECURITIES (Tables)	6 Months Ended
	Jun. 27, 2015
Cash and Equivalents and Marketable Securities Disclosure [Abstract]
Cash Cash Equivalents and Marketable Securities Table	Investments in available-for-sale marketable debt securities are as follows at June 27, 2015 and December 27, 2014 : Amortized Cost Unrealized Gains Unrealized Losses Fair Value 2015 2014 2015 2014 2015 2014 2015 2014 U.S. government and agency backed securities $ 55,505,053 $ 57,897,914 $ — $ — $ (39,473 ) $ (200,772 ) $ 55,465,580 $ 57,697,142 Corporate debt and certificates of deposit 16,413,099 18,564,823 — — (35,618 ) (38,830 ) 16,377,481 18,525,993 Total $ 71,918,152 $ 76,462,737 $ — $ — $ (75,091 ) $ (239,602 ) $ 71,843,061 $ 76,223,135
Marketable Debt Securities	The contractual maturity of the Company’s marketable debt securities is as follows at June 27, 2015 : Less than One year One to Five years Greater than Five years Total U.S. government and agency backed securities $ 24,030,172 $ 23,865,571 $ 7,569,837 $ 55,465,580 Corporate debt and certificates of deposit 14,413,761 1,963,720 — 16,377,481 Total $ 38,443,933 $ 25,829,291 $ 7,569,837 $ 71,843,061

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 27, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements of Financial Instruments	The following table details the fair value measurements of the Company’s financial assets: Fair Value Measurement June 27, 2015 Using: Total Level 1 Level 2 Level 3 Cash and Equivalents $ 16,477,501 $ 16,477,501 $ — $ — U.S. Government Securities 55,465,580 17,501,563 37,964,017 — Corporate Debt 6,421,028 — 6,421,028 — Certificates of Deposit 9,956,453 — 9,956,453 — Vuzix Corporation 2,426,404 2,426,404 — — GCS Holdings 289,006 289,006 — — $ 91,035,972 $ 36,694,474 $ 54,341,498 $ — Fair Value Measurement December 27, 2014 Using: Total Level 1 Level 2 Level 3 Cash and Equivalents $ 14,635,802 $ 14,635,802 $ — $ — U.S. Government Securities 57,697,142 21,218,340 36,478,802 — Corporate Debt 5,970,983 — 5,970,983 — Certificates of Deposit 12,555,010 — 12,555,010 — Vuzix Corporation 1,500,777 1,500,777 — — GCS Holdings 180,347 180,347 — — $ 92,540,061 $ 37,535,266 $ 55,004,795 $ —

INVENTORY (Tables)

INVENTORY (Tables)	6 Months Ended
	Jun. 27, 2015
Inventory Disclosure [Abstract]
Inventory Stated at the Lower of Cost or Market	Inventory is stated at the lower of cost (determined on the first-in, first-out) or market and consists of the following at June 27, 2015 and December 27, 2014 : June 27, December 27, Raw materials $ 1,200,369 $ 2,057,202 Work-in-process 1,445,584 1,551,799 Finished goods 419,759 472,885 $ 3,065,712 $ 4,081,886

NET (LOSS) INCOME PER SHARE (Ta

NET (LOSS) INCOME PER SHARE (Tables)	6 Months Ended
	Jun. 27, 2015
Earnings Per Share [Abstract]
Weighted Average Common Shares Outstanding	Weighted average common shares outstanding used to calculate earnings per share are as follows: Three Months Ended Six Months Ended June 27, 2015 June 28, 2014 June 27, 2015 June 28, 2014 Weighted average common shares outstanding-basic 63,066,031 62,643,506 63,074,842 62,586,854 Stock options and non-vested restricted common stock 234,750 — — — Weighted average common shares outstanding-diluted 63,300,781 62,643,506 63,074,842 62,586,854
Weighted Average Common Shares Outstanding-Diluted	The following were not included in weighted average common shares outstanding-diluted because they are anti-dilutive or performance or market conditions had not been met at the end of the period: Three Months Ended Six Months Ended June 27, 2015 June 28, 2014 June 27, 2015 June 28, 2014 Non-vested restricted common stock 1,374,000 3,383,148 3,074,111 3,383,148 Stock options — 399,600 — 399,600 Total 1,374,000 3,782,748 3,074,111 3,782,748

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 27, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock- Based Compensation	A summary of stock option award activity under the equity plans as of June 27, 2015 and changes during the six month period then ended is as follows: Six Months Ended June 27, 2015 Shares Weighted Balance, December 27, 2014 130,500 $ 3.49 Options forfeited/canceled (125,358 ) 3.50 Options exercised (5,142 ) 3.16 Balance, all exercisable, June 27, 2015 — $ —
NonVested Restricted Common Stock	A summary of the activity for non-vested restricted common stock awards as of June 27, 2015 and changes during the six month period then ended is presented below: Shares Weighted Balance, December 27, 2014 2,551,631 $ 3.75 Granted 1,005,000 3.89 Forfeited (255,020 ) 3.68 Vested (227,500 ) 4.00 Balance, June 27, 2015 3,074,111 $ 3.78
Stock-Based Compensation Expense	The following table summarizes stock-based compensation expense within each of the categories below as it relates to non-vested restricted common stock awards for the six months ended June 27, 2015 and June 28, 2014 (no tax benefits were recognized): Six Months Ended June 27, June 28, Cost of component revenues $ 461,094 $ 472,213 Research and development 503,523 637,528 Selling, general and administrative 1,057,426 1,252,705 Total $ 2,022,043 $ 2,362,446

ACCRUED WARRANTY (Tables)

ACCRUED WARRANTY (Tables)	6 Months Ended
	Jun. 27, 2015
Product Warranties Disclosures [Abstract]
Accrued Warranty	Changes in the accrued warranty for the six months ended June 27, 2015 are as follows: Balance, December 27, 2014 $ 716,000 Additions 362,000 Claim and reversals (362,000 ) Balance, June 27, 2015 $ 716,000

SEGMENTS AND GEOGRAPHICAL INF25

SEGMENTS AND GEOGRAPHICAL INFORMATION (Tables)	6 Months Ended
	Jun. 27, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The following table presents the Company’s reportable segment results (in thousands): Three Months Ended June 27, 2015 June 28, 2014 Kopin FDD Total Kopin FDD Total Revenues $ 10,177 $ 679 $ 10,856 $ 6,007 $ 936 $ 6,943 Net income (loss) attributable to the controlling interest 853 (72 ) 781 (8,479 ) (327 ) (8,806 ) Six Months Ended June 27, 2015 June 28, 2014 Kopin FDD Total Kopin FDD Total Revenues $ 17,764 $ 1,678 $ 19,442 $ 9,909 $ 1,729 $ 11,638 Net loss attributable to the controlling interest (2,519 ) (538 ) (3,057 ) (17,103 ) (838 ) (17,940 ) Total assets 122,604 1,403 124,007 129,160 1,932 131,091 Long-lived assets 3,972 135 4,107 4,930 381 5,312
Percentage of Net Revenues by Geographies	During the three and six month periods ended June 27, 2015 and June 28, 2014 , the Company derived its sales from the following geographies (as a percentage of net revenues): Three Months Ended Six Months Ended June 27, 2015 June 28, 2014 June 27, 2015 June 28, 2014 United States 77 % 52 % 75 % 47 % Others — % 1 % 1 % — % Americas 77 % 53 % 76 % 47 % Asia-Pacific 18 % 34 % 17 % 39 % Europe 5 % 13 % 7 % 14 % Total Revenues 100 % 100 % 100 % 100 %

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) - Jun. 27, 2015 - USD ($)	Total	Total
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax		$ 370,957
Reclassified holding gains	$ 400,000
Kowon Technology Corporation Limited [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	93.00%	93.00%
Intoware
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	58.00%	58.00%
eMDT
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	80.00%	80.00%
Payments to Acquire Additional Interest in Subsidiaries	$ 300,000
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Purchase of Interest by Parent	0.29
Accumulated Translation Adjustment [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	600,000	$ 600,000
Accumulated Net Unrealized Investment Gain (Loss) [Member]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	$ 1,300,000

CASH AND EQUIVALENTS AND MARK27

CASH AND EQUIVALENTS AND MARKETABLE SECURITIES (Details) - USD ($)	Jun. 27, 2015	Dec. 27, 2014
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	$ 71,918,152	$ 76,462,737
Unrealized Gains	0	0
Unrealized Losses	(75,091)	(239,602)
Fair Value	71,843,061	76,223,135
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Less than one year	38,443,933
One to five years	25,829,291
Greater than five years	7,569,837
Available-for-sale Securities	71,843,061
U.S. government and agency backed securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	55,505,053	57,897,914
Unrealized Gains	0	0
Unrealized Losses	(39,473)	(200,772)
Fair Value	55,465,580	57,697,142
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Less than one year	24,030,172
One to five years	23,865,571
Greater than five years	7,569,837
Available-for-sale Securities	55,465,580
Corporate debt and certificates of deposit
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Debt Securities, Amortized Cost Basis	16,413,099	18,564,823
Unrealized Gains	0	0
Unrealized Losses	(35,618)	(38,830)
Fair Value	16,377,481	$ 18,525,993
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract]
Less than one year	14,413,761
One to five years	1,963,720
Greater than five years	0
Available-for-sale Securities	$ 16,377,481

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($)	Jun. 27, 2015	Dec. 27, 2014
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	$ 91,035,972	$ 92,540,061
Money Markets, Cash and Equivalents
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	16,477,501	14,635,802
U.S. Government Securities
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	55,465,580	57,697,142
Corporate Debt
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	6,421,028	5,970,983
Certificates of Deposit
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	9,956,453	12,555,010
Vuzix [Member]
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	2,426,404	1,500,777
GCS [Member]
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	289,006	180,347
Level 1
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	36,694,474	37,535,266
Level 1 | Money Markets, Cash and Equivalents
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	16,477,501	14,635,802
Level 1 | U.S. Government Securities
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	17,501,563	21,218,340
Level 1 | Vuzix [Member]
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	2,426,404	1,500,777
Level 1 | GCS [Member]
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	289,006	180,347
Level 2
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	54,341,498	55,004,795
Level 2 | U.S. Government Securities
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	37,964,017	36,478,802
Level 2 | Corporate Debt
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	6,421,028	5,970,983
Level 2 | Certificates of Deposit
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	9,956,453	12,555,010
Level 2 | Vuzix [Member]
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value		0
Level 3
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	0	0
Level 3 | Money Markets, Cash and Equivalents
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	0	0
Level 3 | U.S. Government Securities
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	0	0
Level 3 | Corporate Debt
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	0	0
Level 3 | Certificates of Deposit
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	0	0
Level 3 | Vuzix [Member]
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	0	0
Level 3 | GCS [Member]
Fair Value Measurements [Line Items]
Financial Instruments, Owned, at Fair Value	$ 0	$ 0

INVENTORY (Details)

INVENTORY (Details) - USD ($)	Jun. 27, 2015	Dec. 27, 2014
Inventory Disclosure [Abstract]
Raw materials	$ 1,200,369	$ 2,057,202
Work-in-process	1,445,584	1,551,799
Finished goods	419,759	472,885
Inventory	$ 3,065,712	$ 4,081,886

NET (LOSS) INCOME PER SHARE (De

NET (LOSS) INCOME PER SHARE (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Issuance Of Warrants Shares			200,000
Weighted average common shares outstanding - basic	63,066,031	62,643,506	63,074,842	62,586,854
Stock options and non-vested restricted common stock	234,750	0	0	0
Weighted average common shares outstanding - diluted	63,300,781	62,643,506	63,074,842	62,586,854
Antidilutive securities excluded from computation of earnings per share	1,374,000	3,782,748	3,074,111	3,782,748
Exercise Price Of Warrants	$ 3.49		$ 3.49
Non-vested restricted common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share			3,074,111	3,383,148
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share			0	399,600

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($)	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 27, 2015	Jun. 27, 2015	Jun. 28, 2014	Dec. 27, 2014
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period		50,000
Stock-based compensation	$ 222,000	$ 2,022,043	$ 2,362,446
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		150,000
Error Corrections and Prior Period Adjustments, Description				4.41
Restricted Stock [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		260,000
Unrecognized compensation cost related to nonvested stock awards	$ 5,400,000	$ 5,400,000
Unrecognized compensation cost related to nonvested stock awards, period of recognition (in years)		3 years
Restricted Stock and Phantom Share Units [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		10 days
Share-based Compensation Award, Tranche One
Class of Warrant or Right [Line Items]
Nonvested common stock awards employment obligations (in years)		1 year
Market Price Of Common Stock Range Low		$ 6
Share-based Compensation Award, Tranche Two
Class of Warrant or Right [Line Items]
Nonvested common stock awards employment obligations (in years)		2 years
Market Price Of Common Stock Range Low		$ 7
Share-based Compensation Award, Tranche Three
Class of Warrant or Right [Line Items]
Nonvested common stock awards employment obligations (in years)		4 years
Share-based Compensation Award, Tranche Three | Restricted Stock and Phantom Share Units [Member]
Class of Warrant or Right [Line Items]
Market Price Of Common Stock Range Low		$ 5.25

STOCK-BASED COMPENSATION - Summ

STOCK-BASED COMPENSATION - Summary of Award Activity under the Stock Option Plans and Changes (Details) - 6 months ended Jun. 27, 2015 - $ / shares	Total
Shares
Beginning Balance	130,500
Options forfeited/cancelled	(125,358)
Options exercised	(5,142)
Ending Balance	0
Weighted Average Exercise Price
Beginning Balance	$ 3.49
Options forfeited/cancelled	3.50
Options exercised	3.16
Ending Balance	$ 0

STOCK-BASED COMPENSATION - Su33

STOCK-BASED COMPENSATION - Summary of Activity for Nonvested Restricted Common Stock Awards (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	150,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to nonvested stock awards	$ 5.4
Shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	260,000
Non-vested restricted common stock
Shares
Beginning Balance	2,551,631
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	1,005,000
Forfeited	(255,020)
Vested	(227,500)
Ending Balance	3,074,111
Weighted Average Grant Fair Value
Beginning Balance	$ 3.75
Granted		$ 3.89
Forfeited		3.68
Vested		4
Ending Balance		$ 3.78

STOCK-BASED COMPENSATION - Expe

STOCK-BASED COMPENSATION - Expense Related to Employee Stock Options and Nonvested Restricted Common Stock Awards (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 27, 2015	Jun. 27, 2015	Jun. 28, 2014
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	$ 222,000	$ 2,022,043	$ 2,362,446
Cost of product revenues
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation		461,094	472,213
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation		503,523	637,528
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation		$ 1,057,426	$ 1,252,705

OTHER ASSETS AND AMOUNTS DUE 35

OTHER ASSETS AND AMOUNTS DUE TO / FROM AFFILIATES (Details) - USD ($)	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 27, 2015	Mar. 28, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014	Dec. 27, 2014	Dec. 28, 2013	Dec. 29, 2012	Jan. 16, 2013
Schedule of Equity Method Investments [Line Items]
Accounts and Notes Receivable, Net									$ 14,900,000
Available-for-sale Securities	$ 71,843,061			$ 71,843,061
Class of Warrant or Right, Unissued		251,000
Warrants and Rights Outstanding		$ 352,000
Prior Period Reclassification Adjustment		$ 1,300,000				$ 171,000	$ 646,000	$ 817,000
Net (loss) income	$ 706,280		$ (9,027,916)	$ (3,106,803)	$ (18,121,235)	28,500,000	$ 35,900,000
Ko Brite (Member)
Schedule of Equity Method Investments [Line Items]
Carrying value of the investment			$ 1,300,000		$ 1,300,000
Company's ownership percentage	12.00%			12.00%
Vuzix [Member]
Schedule of Equity Method Investments [Line Items]
Available-for-sale Securities	$ 2,400,000			$ 2,400,000		1,500,000
Available-for-sale Equity Securities, Amortized Cost Basis	300,000			300,000		0
GCS Holdings [Member]
Schedule of Equity Method Investments [Line Items]
Available-for-sale Securities	300,000			300,000		200,000
Available-for-sale Equity Securities, Amortized Cost Basis	$ 0			$ 0		$ 0

ACCRUED WARRANTY (Details)

ACCRUED WARRANTY (Details) - Jun. 27, 2015 - USD ($)	Total
Product Warranties Disclosures [Abstract]
Product warranty term	12 months
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning Balance	$ 716,000
Additions	362,000
Claim and reversals	(362,000)
Ending Balance	$ 716,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014
Income Taxes [Line Items]
State income and foreign tax expenses	$ (12,500)	$ (37,000)	$ (25,000)	$ 106,000
Net operating loss carryforwards available for tax purposes	$ 70,000,000		70,000,000
Unrecorded benefits from stock award			$ 10,000,000
Minimum
Income Taxes [Line Items]
State income tax returns examination period			3 years
Maximum
Income Taxes [Line Items]
State income tax returns examination period			5 years
The state impact of any federal changes, subject to examination by various states (in years)			1 year

SEGMENTS AND GEOGRAPHICAL INF38

SEGMENTS AND GEOGRAPHICAL INFORMATION (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014	Dec. 27, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 10,856,606	$ 6,943,287	$ 19,441,598	$ 11,638,056
Net Income (Loss) Attributable to Parent	780,970	$ (8,805,943)	(3,057,019)	$ (17,940,359)
Assets	124,006,985		124,006,985		$ 122,941,414
Debt of Subsidiary, Not Assumed	$ 5,300,000		$ 5,300,000		$ 5,000,000
Percentage of total revenue	100.00%	100.00%	100.00%	100.00%
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of total revenue	77.00%	52.00%	75.00%	47.00%
All Others
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of total revenue	0.00%	1.00%	1.00%	0.00%
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of total revenue	77.00%	53.00%	76.00%	47.00%
Asia-Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of total revenue	18.00%	34.00%	17.00%	39.00%
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Percentage of total revenue	5.00%	13.00%	7.00%	14.00%
Segment, Continuing Operations [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 10,856	$ 6,943	$ 19,000	$ 11,638
Net Income (Loss) Attributable to Parent	781	(8,806)	(3,000)	(17,940)
Assets	124,007	131,091	124,007	131,091
Long-Lived Assets	4,107	5,312	4,107	5,312
Segment, Continuing Operations [Member] | Kopin United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	10,177	6,007	18,000	9,909
Net Income (Loss) Attributable to Parent	853	(8,479)	(3,000)	(17,103)
Assets	122,604	129,160	122,604	129,160
Long-Lived Assets	3,972	4,930	3,972	4,930
Segment, Continuing Operations [Member] | Forth Dimension Displays Limited [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	679	936	2,000	1,729
Net Income (Loss) Attributable to Parent	(72)	(327)	(1,000)	(838)
Assets	1,403	1,932	1,403	1,932
Long-Lived Assets	$ 135	$ 381	$ 135	$ 381

Uncategorized Items - kopn-2015

Label	Element	Value
Asset Impairment Charges	us-gaap_AssetImpairmentCharges	$ 0
Asset Impairment Charges	us-gaap_AssetImpairmentCharges	1,319,287
Gain (Loss) on Sale of Investments	us-gaap_GainLossOnSaleOfInvestments	0
Gain (Loss) on Sale of Investments	us-gaap_GainLossOnSaleOfInvestments	5,460,399
Proceeds from Warrant Exercises	us-gaap_ProceedsFromWarrantExercises	0
Proceeds from Warrant Exercises	us-gaap_ProceedsFromWarrantExercises	$ 1,330,000