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Kopin Receives $1.1 Million Order In Support of the Joint Effects Targeting System
Rhea-AI Impact
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Rhea-AI Summary
Kopin Corporation (NASDAQ: KOPN) has secured a $1.1 million order for eyepieces for the Joint Effects Targeting System (JETS) from the U.S. Army, expected to be delivered through 2022. The JETS system enhances target acquisition and engagement capabilities. Bill Maffucci, VP of Government Programs, highlighted the program's potential for multiple years of collaboration. Kopin specializes in display and optical technologies for various sectors, including defense.
Positive
Received a $1.1 million order for eyepieces for JETS.
Expected delivery timeline through 2022.
Long-term collaboration potential hinted at by the company.
Negative
Risks include potential cancellation of the order by the U.S. government.
Uncertainty about future purchases from the customer.
WESTBOROUGH, Mass.--(BUSINESS WIRE)--
Kopin Corporation (NASDAQ: KOPN), a leading developer of innovative wearable computing technologies and solutions, announced that it has received a $1.1 million order to provide eyepieces for the Joint Effects Targeting System (JETS). The order is expected to be delivered through 2022.
The JETS Target Location Designation System (TLDS) is an Army-led, joint-interest program with the Air Force and Marine Corps. The JETS system is a one-man-portable, handheld capability locator designed to rapidly acquire, and precisely locate and accurately engage targets with precision-guided munitions, and improve the effectiveness of engagement with unguided munitions.
“This order is for Kopin’s low-rate initial production of this program,” said Bill Maffucci, the Company’s Vice President of Government Programs. “This program provides the soldier with the ability to carry out necessary recon on targets, acquire specific locations on a precision grid, and communicate the coordinates instantaneously back to command. We are providing the program with our high resolution, low power, ruggedized eyepiece. We expect this program to continue 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, 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 under the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements relating to our expectation that we will make deliveries through 2022 and our expectation that they program will continue for multiple years. 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, the program could be cancelled by the US government; our customer could cancel the order; our customer may not make additional purchases; 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 26, 2020, 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.
