Kopin Receives $2M Development Contract for Defense In-Vehicle Display Imaging System
June 28 2022 - 8:30AM
Business Wire
2nd Vehicle Display System Development
Order
Kopin® Corporation (NASDAQ: KOPN), a leading provider of
high-resolution microdisplays and sub-systems for Augmented Reality
(AR) and Virtual Reality (VR) for use in defense, enterprise and
consumer applications, today announced it was awarded a contract to
develop a new in-vehicle display imaging system for a U.S. prime
defense contractor. This is the second in-vehicle defense
development program awarded to Kopin and reflects Kopin’s recent
efforts to enter this very large market. Kopin has a strong
presence in U.S. defense applications with soldier-centric weapon
sights and targeting systems and pilot helmets for fixed and rotary
wing aircraft due in part to Kopin’s design and manufacturing
expertise in precision displays solutions for use in extreme
environments.
The new system will integrate Kopin high-brightness,
high-resolution, low-power ferroelectric liquid crystal on silicon
(FLCOS) microdisplay and custom optic into a heavily ruggedized
custom housing to enable operational use in extremely harsh
environments.
“We are excited with this new order, which continues our focused
efforts to expand our penetration into new defense market segments,
in this case the very large vehicle market,” said Bill Maffucci,
the Company’s Vice President of Government Programs. “We believe
our ability to offer microdisplay solutions with any of our leading
silicon-based microdisplay technologies (LCD, FLCOS, OLED and
MicroLED), plus our advanced custom optics, electronics, and 35
years of experience designing and building high precision systems
that can perform reliably in the very severe environments in which
our soldiers operate make Kopin the display imaging system provider
of choice, especially for challenging environments. Following the
development and qualification process, we expect this program to
transition to production and provide revenue for multiple
years.”
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,
and Micro Light Emitting Diode (Micro LED) displays as well as a
variety of optics, and low-power ASICs. For more information,
please visit Kopin's website at www.kopin.com.
Kopin is a trademark of Kopin Corporation.
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 our ability to
offer microdisplay solutions with any of our leading silicon-based
microdisplay technologies (LCD, FLCOS, OLED and MicroLED), plus our
advanced custom optics, electronics and 35 years of experience
designing and building high precision systems that can perform
reliably in the very severe environments in which our soldiers
operate make Kopin the display imaging system provider of choice,
especially for challenging environments; and our expectation that
following development and qualification this program will provide
revenue for multiple years. 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/20220628005481/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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