Kopin Receives Additional $6 Million Order for Thermal Weapon Sight
December 18 2023 - 7:30AM
Business Wire
Kopin Corporation (NASDAQ: KOPN), a leading provider of
application-specific optical solutions and high performance
micro-displays for defense, enterprise, consumer and medical
products, today announced it has received an approximately $6
million follow-on order for one of its thermal weapon sight
eyepiece subassemblies.
The eyepiece subassembly is a critical component provided to a
Department of Defense prime contractor that integrates the eyepiece
into a sophisticated video “see through” AR optical module using
Kopin’s proprietary high-brightness microdisplay and
custom-designed Pancake® optics.
This additional increase in demand potentially triples our
thermal weapon sight production volumes in fiscal year 2024, as
compared to 2023.
“This fourth follow-on order we have received for this product
is a testament to Kopin’s responsiveness and reliability in
delivering weapon sights and targeting products in this
fast-changing global environment,” said Bill Maffucci, Kopin's Vice
President of Business Development and Strategy.
Michael Murray, Kopin's Chief Executive Officer, stated, “This
most recent order is the result of our continued focus on becoming
a world-class developer and manufacturer of application-specific
optical solutions that consistently delivers on-time and in-full
quality. This additional order adds to an already strong order book
and is the foundation for significant revenue and profitable
growth, in 2024 and beyond.”
About Kopin
Kopin Corporation is a leading developer and provider of
innovative display and optical technologies sold as critical
components and subassemblies for defense, industrial and consumer
products. Kopin's technology portfolio includes ultra-small
Active-Matrix Liquid Crystal displays (AMLCD), Liquid Crystal on
Silicon (LCOS) displays and Organic Light Emitting Diode (OLED)
displays, a variety of optics, and low-power ASICs. For more
information, please visit Kopin's website at www.kopin.com.
Forward-Looking Statements
Statements in this press release may be considered
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, as amended (the “Securities Act”), and
Section 21E of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), which are subject to the safe harbor created by
such sections. Words such as “expects,” “believes,” “can,” “will,”
“estimates,” and variations of such words and similar expressions,
and the negatives thereof, are intended to identify such
forward-looking statements. We caution readers not to place undue
reliance on any such “forward-looking statements,” which speak only
as of the date made, and advise readers that these forward-looking
statements are not guarantees of future performance and involve
certain risks, uncertainties, estimates, and assumptions by us that
are difficult to predict. These forward-looking statements may
include statements with respect to our belief that this additional
increase in demand potentially triples our thermal weapon sight
production volumes in fiscal year 2024, as compared to our 2023
production; and our expectation that this additional order adds to
an already strong order book and is the foundation for significant
revenue and profitable growth, in 2024 and beyond. Various factors,
some of which are beyond our control, could cause actual results to
differ materially from those expressed in, or implied by, such
forward-looking statements. All such forward-looking statements,
whether written or oral, and whether made by us or on our behalf,
are expressly qualified by these cautionary statements and any
other cautionary statements that may accompany the forward-looking
statements. In addition, we disclaim any obligation to update any
forward-looking statements to reflect events or circumstances after
the date of this press release, except as may otherwise be required
by the federal securities laws. These forward-looking statements
are only predictions, subject to risks and uncertainties, and
actual results could differ materially from those discussed.
Important factors that could affect performance and cause results
to differ materially from management’s expectations are described
in Part I, Item 1A. Risk Factors; Part II, Item 7. Management’s
Discussion and Analysis of Financial Condition and Results of
Operations; and other parts of our Annual Report on Form 10-K for
the fiscal year ended December 31, 2022, or as updated from time to
time in our Securities and Exchange Commission filings.
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version on businesswire.com: https://www.businesswire.com/news/home/20231218252929/en/
Kopin Corporation Bill Maffucci, 508-870-5959 VP of Business
Development and Strategy bmaffucci@kopin.com
Richard Sneider, 508-870-5959 Treasurer and Chief
Financial Officer Richard_Sneider@kopin.com
or
MZ Contact:
Brian M. Prenoveau, CFA, 561-489-5315 MZ Group – MZ North
America KOPIN@mzgroup.us
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