Kopin Receives Additional $4.8 Million Order for the F-35 Joint Strike Fighter Program
May 16 2022 - 8:30AM
Business Wire
Kopin Corporation (NASDAQ: KOPN), a leading provider of
high-resolution microdisplays for Augmented Reality (AR) and
Virtual Reality (VR), today announced it has received an
approximately $4.8 million follow-on order of its high-brightness
AMLCD microdisplay for the F-35 Joint Strike Fighter program. With
the F-35 scheduled for production through 2030, Kopin expects
additional orders over the life of the program. Kopin has been the
sole supplier of microdisplays for the F-35 pilot helmets since the
program inception, with thousands of displays delivered to
date.
The F-35, the world’s most advanced jet fighter, is a family of
single-seat, single-engine, all-weather, day and night, stealth
combat aircraft. The F-35 aircraft is designed to perform both air
superiority and strike missions while also providing electronic
warfare and intelligence, surveillance, and reconnaissance. Much of
the functionality is enabled through an advanced augmented reality
(AR) helmet, which provides the pilot with critical flight,
tactical, and sensor information for advanced situational
awareness, precision and safety. The extensive functionality and
extreme conditions require unique display technology.
“This is the third consecutive year that we have received a
substantial production order for this critical U.S. defense
program, which is a testament to both our high quality and delivery
capabilities,” stated Bill Maffucci, the Company’s Vice President
of Government Programs. “This new order extends our backlog of
scheduled deliveries into the fourth quarter of 2023. As the sole
provider of displays to the F-35 pilot helmets, the most advanced
augmented reality system in the world, we are proud to be providing
our defense customers with the best possible equipment.”
As the largest procurement program in the Department of Defense
(DOD), the F-35 strike fighter aircraft is being procured in
different configurations for multiple branches of the DOD,
including the United States Air Force, Marine Corps, and Navy.
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 expectation of additional
orders over the life of the F-35 joint strike fighter program; and
our belief that this order extends our backlog of scheduled
deliveries into the fourth quarter of 2023 . 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 25, 2021, or as updated from time to
time in the Company’s Securities and Exchange Commission
filings.
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version on businesswire.com: https://www.businesswire.com/news/home/20220516005288/en/
Kopin Corporation Bill Maffucci, 508-870-5959 VP of Government
Programs bmaffucci@kopin.com Richard Sneider, 508-870-5959
Treasurer and Chief Financial Officer Richard_Sneider@kopin.com or
Market Street Partners Joann Horne, 415-445-3233
JHorne@marketstreetpartners.com
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