Kopin Provides Update on Two Key Military Contracts
September 12 2018 - 8:00AM
Business Wire
New F-35 Fighter Jet and FWS-I Orders Extend
Revenues Through Late 2019
Kopin Corporation (NASDAQ: KOPN), a leading developer
of innovative wearable computing technologies and solutions, today
provided an update on two contracts providing components to the
U.S. Defense Department.
Kopin is the sole supplier of displays for the helmets worn by
pilots in the F-35 Joint Strike Fighter jets. Kopin is currently
shipping displays into the F-35 program and has received an
additional purchase order for approximately $2.6 million which will
extend scheduled shipments for the period January 2019 through July
2019. The Company has also received a new order for approximately
$4.2 million related to the Family of Weapon Sights Individual
(FWS-I) program. This order covers shipments for the period
September 2018 through 2019. As previously announced, the Company
achieved full qualification for the FWS-I program to provide a
digital eyepiece module used in imaging rifle sights.
About Kopin
Kopin Corporation is a leading developer and provider of
innovative wearable technologies and critical components for
integration into wearable computing systems for military,
industrial and consumer products. Kopin’s technology portfolio
includes ultra-small displays, optics, speech enhancement
technology, voice-interface and hands-free control software,
low-power ASICs, and ergonomically designed smart headset reference
systems. Kopin’s proprietary components and technology are
protected by more than 300 global patents and patents pending. 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 under the
“Safe Harbor” provisions of the Private Securities Litigation
Reform Act of 1995. These include, without limitation, statements
relating our expectation that we will ship displays into the
F-35 program during the period January 2019 through July 2019 and
we expect to ship displays into the FWS-I from September 2018
through 2019. These statements involve a number of risks and
uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements. These risks
and uncertainties include, but are not limited to, development or
production issues may prevent displays from being shipped into
the F-35 and FWS-programs; either or both the F-35 or FWS-I
programs could be cancelled; we may not receive additional orders
for our components for the F-35 and FWS-I programs; we may be
designed out of the F-35 and FWS-I programs; and other risk factors
and cautionary statements listed in Kopin’s periodic reports and
registration statements filed with the Securities and Exchange
Commission, including the Annual Report on Form 10-K for the 12
months ended December 31, 2017, and Kopin’s subsequent filings
with the Securities and Exchange Commission. You should not
place undue reliance on any forward-looking statements, which are
based only on information currently available to Kopin and only as
of the date on which they are made. We undertake no obligation to
update any of these forward-looking statements to reflect events or
circumstances occurring after the date of this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20180912005199/en/
Kopin CorporationRichard
Sneider, 508-870-5959Treasurer and Chief Financial
OfficerRichard_Sneider@kopin.comorMarket Street PartnersJoann
Horne, 415-445-3233JHorne@marketstreetpartners.com
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