Kopin Receives $19.8 Million Order
Westborough, Mass. – December 1, 2021 - Kopin® Corporation (NASDAQ: KOPN), a leading developer and provider of high-resolution microdisplays and display modules and subassemblies for defense, enterprise, consumer and medical products, today announced it has received a $19.8 million order for its eyepiece subassembly which is a critical component in the US Army's Family of Weapon Sight-Individual (FWS-I) thermal sight system.
The FWS-I thermal sight system uses a sophisticated video "see through" AR optical module using Kopin's CyberDisplay® LCDs and our custom-designed Pancake® optics. This is the second large production order received by Kopin for the FWS-I eyepiece subassembly and the order has scheduled deliveries of the FWS-I eyepiece subassemblies into the fourth quarter of 2022.
"To-date we have received production orders totaling more than $50 million for our FWS-I eyepiece subassemblies which is a testament to Kopin's success in designing and manufacturing very complex microdisplay modules and subassemblies that are used in the most rugged environments," said Bill Maffucci, Kopin's Vice President/General Manager of Government and Professional Products. "We are proud to provide our defense customers with the best possible equipment."
About Kopin
Kopin Corporation is a leading developer and provider of innovative display and optical technologies sold as critical components and subassemblies for military, 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.
Kopin, CyberDisplay and Pancake are trademarks 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 expectation of delivering FWS-I units into the fourth quarter of 2022. 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 26, 2020, or as updated from time to time in the Company's Securities and Exchange Commission filings.
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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
