Kopin Provides Update on Two Key Military Contracts
WESTBOROUGH, Mass.--(BUSINESS WIRE)--Sep 12, 2018--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.
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 andFWS-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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CONTACT: Kopin Corporation
Richard Sneider, 508-870-5959
Treasurer and Chief Financial Officer
Market Street Partners
Joann Horne, 415-445-3233
KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS
INDUSTRY KEYWORD: TECHNOLOGY HARDWARE SOFTWARE MANUFACTURING AEROSPACE ENGINEERING DEFENSE CONTRACTS
SOURCE: Kopin Corporation
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PUB: 09/12/2018 08:00 AM/DISC: 09/12/2018 08:01 AM