WESTBOROUGH, Mass.--(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.
