Kopin Receives Additional $12.8 Million Order for Thermal Weapon Sight Program

Rhea-AI Summary

Kopin Corporation (NASDAQ: KOPN) has announced a $12.8 million follow-on order for its eyepiece subassembly, a critical component provided to a Department of Defense prime contractor. The order marks a significant increase in year-over-year demand, with scheduled deliveries in 2024. This demonstrates Kopin's success in designing and manufacturing complex microdisplay modules and subassemblies for rugged environments, providing the best equipment for soldiers and defense customers.

WESTBOROUGH, Mass.--(BUSINESS WIRE)-- Kopin Corporation (NASDAQ: KOPN), a leading provider of application specific optical systems and high performance micro-displays for defense, enterprise, consumer and medical products, today announced it has received an approximately $12.8 million follow-on order for its eyepiece subassembly. The eyepiece subassembly is a critical component provided to a Department of Defense prime contractor that integrates the eyepiece into a sophisticated video “see through” AR optical module using Kopin’s high-brightness microdisplay together with custom-designed Pancake® optics.

The order is a significant increase in year-over-year demand which has scheduled deliveries of the eyepiece subassemblies in 2024, with early deliveries allowed.

“This is the third follow-on order we have received for this product, 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 and most importantly provide our soldiers and defense customers with the best possible equipment,” said Bill Maffucci, Kopin's Vice President of Business Development and Strategy.

Michael Murray, Kopin's Chief Executive Officer, stated, “This most recent order is the result of our increased focus on strategic customer engagement, new business development and operational improvements to deliver products on-time and in-full as we continue to build the foundation for significant revenue and profitable growth.”

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, Organic Light Emitting Diode (OLED) displays and Micro Light Emitting Diode (µLED) 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 expectation of deliveries 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.

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Kopin Corporation

Bill Maffucci, 508-870-5959

VP of Business Development and Strategy

bmaffucci@kopin.com

Richard Sneider, 508-870-5959

Treasurer and Chief Financial Officer

Richard_Sneider@kopin.com

or

MZ Contact:

Brian M. Prenoveau, CFA, 561 489 5315

MZ Group – MZ North America

KOPIN@mzgroup.us

Source: Kopin Corporation

FAQ

What is Kopin Corporation's ticker symbol?

Kopin Corporation's ticker symbol is NASDAQ: KOPN.

What is the recent order received by Kopin Corporation?

Kopin Corporation received a $12.8 million follow-on order for its eyepiece subassembly.

Who is the Vice President of Business Development and Strategy at Kopin Corporation?

Bill Maffucci is Kopin's Vice President of Business Development and Strategy.

Who is the Chief Executive Officer of Kopin Corporation?

Michael Murray is Kopin's Chief Executive Officer.