Kopin Receives $1.1 Million Second Production Order For Specialized Weapon Sight Module

Rhea-AI Summary

Kopin Corporation (NASDAQ: KOPN) announced a follow-on production order worth $1.1 million for a specialized long-range optical weapon sight module. This order highlights Kopin's leadership in weapon sight eyepieces, particularly in rugged environments, and aligns with increasing defense spending in Europe. The module, featuring sophisticated augmented reality capabilities, integrates Kopin's proprietary CyberDisplay® technology and custom optics, previously utilized in over 250,000 weapon sight systems. The company's focus on defense applications positions it to capture significant market opportunities amid ongoing geopolitical tensions.

Positive

• Received a follow-on production order worth $1.1 million.
• Strong position in weapon sight eyepieces with proven technology used in over 250,000 systems.
• Increased defense spending in Europe opens opportunities for future orders.

Negative

• None.

WESTBOROUGH, Mass.--(BUSINESS WIRE)-- Kopin Corporation (NASDAQ: KOPN), a leading developer and provider of high-resolution microdisplays and application-specific optical subassemblies for defense, enterprise, consumer and medical products, today announced it has received a $1.1 million follow-on production order for an application-specific, long range optical weapon sight module.

"Kopin continues to be a leader in weapon sight eyepieces for soldiers, and this order is an example of our microdisplays and optical subassemblies being used in the most rugged environments around the world," said Bill Maffucci, Kopin's Sr. Vice President of Business Development and Strategy. "This follow-on order is for one of Kopin’s specialized weapon sight eyepieces. We believe the situation in Europe and continued elevated defense spending will provide significant opportunities for follow-on orders.”

This weapon sight module offers a sophisticated video “see through” augmented reality capability that gives soldiers critical information with clear, bright symbology in their weapons sights. It incorporates our proprietary CyberDisplay^® and our custom-designed optics, which have been proven as the reliable and high-performing core in more than 250,000 weapon sight systems.

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 differentiated technology portfolio includes ultra-small Active-Matrix Liquid Crystal displays (AMBLED), Liquid Crystal on Silicon (COLS) displays, Organic Light Emitting Diode (OLE) displays, Micro LED (bled) displays, a variety of optics, and low-power ASCII. For more information, please visit Kopin's website at www.kopin.com.

Kopin and CyberDisplay 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," 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 include statements with respect to our belief that the situation in Europe and continued elevated defense spending will provide significant opportunities for follow-on orders. 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 year ended December 31, 2022, or as updated from time to time our Securities and Exchange Commission filings.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230424005281/en/

For Product and Sales information

Kopin Corporation

Bill Maffucci, 508-870-5959

Sr. VP of Business Development and Strategy

bmaffucci@kopin.com

For Investor Relations

Kopin Corporation

Richard Sneider

Treasurer and Chief Financial Officer

rsneider@kopin.com

MZ Contact

Brian M. Prenoveau, CFA

MZ Group – MZ North America

KOPN@mzgroup.us

+561 489 5315

Source: Kopin Corporation

FAQ

What is Kopin Corporation's recent production order amount for the weapon sight module?

Kopin Corporation announced a follow-on production order amounting to $1.1 million.

How does Kopin Corporation's technology apply to military applications?

Kopin's technology is used in weapon sight eyepieces, providing augmented reality capabilities for soldiers.

What opportunities does Kopin Corporation foresee in Europe?

Kopin anticipates significant opportunities for follow-on orders due to elevated defense spending in Europe.

How many weapon sight systems incorporate Kopin's technology?

Kopin's technology has been integrated into over 250,000 weapon sight systems.

What is the stock symbol for Kopin Corporation?

The stock symbol for Kopin Corporation is KOPN.