Kopin Receives $3 Million in New Orders for Several Simulated Thermal Sights
January 31 2024 - 8:30AM
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 several new orders from
multiple customers for its simulated thermal sights used in armored
vehicle training systems, totaling in excess of $3 million. These
simulated thermal sights support the training of armored vehicle
crews in integrated multi-platform mission trainers. We believe
recent deployment of armored vehicles in multiple theaters is
driving the need for increased training capabilities and leading to
the procurement of significant quantities of additional
trainers.
“Kopin has a long history of supplying advanced training systems
that create high fidelity simulated situations that the crews
experience in fielded armored vehicles,” stated Bill Maffucci, the
Company’s Senior Vice President of Business Development and
Strategy. “Our supply of both the tactical and training versions of
these display systems allows Kopin to accurately reproduce the look
and feel for training systems, resulting in maximum effectiveness
when training our warfighters. We are very pleased to have received
these additional orders and recognize the trust placed in Kopin in
the very important task of preparing or men and women to defend our
freedom.”
The Kopin products supplied under these orders are fully
integrated display systems consisting of microdisplays, optics,
electronics and environmental enclosures which simulate the display
Line Replaceable Units (LRUs) installed in several U.S.
manufactured armored vehicles. Deliveries of these systems are
scheduled to take place through mid-2024.
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 recent
deployment of armored vehicles in multiple theaters is driving the
need for increased training capabilities and leading to the
procurement of significant quantities of additional trainers; and
our expectation that deliveries of these systems will take place in
2024. 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 our Securities and
Exchange Commission filings.
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version on businesswire.com: https://www.businesswire.com/news/home/20240131732582/en/
Kopin Corporation Bill Maffucci, 508-870-5959 SVP 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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