Vuzix Receives OEM Order from Client Enabling Imaging Technology Solutions for Government, Defense and Commercial Markets

Rhea-AI Summary

Vuzix Corporation announces receipt of an OEM purchase order for engineering services and waveguide and display engine products from a leading provider of digital imaging products for aerospace and defense.

Positive

• Vuzix receives OEM purchase order for waveguides and display engines, indicating growing demand for advanced see-through display technologies in defense and commercial aerospace.

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• None.

ROCHESTER, N.Y., July 10, 2023 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, is pleased to announce the receipt of an OEM purchase order for engineering services and waveguide and display engine products from a US-based company that is a leading provider of sophisticated digital imaging products for aerospace and defense, and instrumentation solutions across multiple commercial and industrial systems. This order, which represents the first Vuzix has received thus far from this company, is for waveguides and optical engines that are intended to be designed into a customized head mounted display solution for multi-discipline applications.

"Our list of OEM engagements continues to steadily expand as more customers turn to Vuzix as their supplier of choice," said Paul Travers, President and Chief Executive Officer at Vuzix. "For defense and commercial aerospace in particular, there is a significant need for advanced see-through display technologies. Vuzix remains in a unique position to deliver to clients in these markets, as we're the leading-edge US-based designer and manufacturer of waveguides and related display technologies. We look forward to working with this customer and once successfully completed ultimately achieving a production award for a finalized solution."

About Vuzix Corporation

Vuzix is a leading designer, manufacturer and marketer of Smart Glasses and Augmented Reality (AR) technologies and products for the enterprise, medical, defense and consumer markets. The Company's products include head-mounted smart personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality, as well OEM waveguide optical components and display engines. Vuzix holds more than 300 patents and patents pending and numerous IP licenses in the fields of optics, head-mounted displays, and augmented reality Video Eyewear field. Moviynt, an SAP Certified ERP SaaS logistics solution provider, is a Vuzix wholly owned subsidiary. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2023 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in: Rochester, NY; Oxford, UK; Munich, Germany; and Kyoto and Tokyo, Japan.  For more information, visit the Vuzix website, Twitter and Facebook pages.

Forward-Looking Statements Disclaimer

Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to Vuzix' business growth with this customer, future orders, including potential volume production and the ultimate success of their respective program, and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

Media and Investor Relations Contact:

Ed McGregor, Director of Investor Relations
Vuzix Corporation
ed_mcgregor@vuzix.com  
Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com

 

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SOURCE Vuzix Corporation

FAQ

What is the purchase order for?

The purchase order is for engineering services and waveguide and display engine products.

Who is the customer?

The customer is a leading provider of digital imaging products for aerospace and defense.

What does this order indicate?

This order indicates a growing demand for advanced see-through display technologies in defense and commercial aerospace.