The Squad Weapon – Fire Control Program Represents a Multi-Year System Procurement Agreement
WESTBOROUGH, Mass. –
Kopin Corporation (NASDAQ: KOPN), a leading provider of innovative wearable computing technologies and solutions, today announced it has been selected by L3Harris (NYSE: LHX) to supply its high-brightness liquid crystal display (LCD) module for inclusion in the integrated rifle scope for the Next Generation Squad Weapon – Fire Control (NGSW-FC) program. Kopin’s display module is composed of a high-performance internally – designed VGA resolution LCD microdisplay with a specialized LED backlight and Kopin’s driver board.
The NGSW-FC is slated to replace the traditional direct view riflescopes currently fielded by the US Army. The NGSW-FC provides an integrated approach to targeting by combining range-finding capability, ballistic computation and environmental sensors that increase the probability of accurate targeting, while decreasing the time to engage a threat. The US Army plans to procure up to 250,000 systems to support many of its current and future weapon platforms. This weapon system is for ordinary daylight situations and is in addition to the thermal weapon systems that Kopin is currently supplying. Deliveries of initial prototypes are expected to start in third quarter of this year and early production is expected to commence in mid-2021.
“This selection and contract award is just the latest example of Kopin being awarded a program to supply high brightness LCDs for military augmented reality applications,” said Bill Maffucci, the Company’s Vice President/General Manager of Government Programs, “This award is a testament to both the strength of our technology and production capabilities. Over the years Kopin’s display products have demonstrated superior performance in the most challenging environments and continue to be the displays of choice for high performance military applications. We look forward to continuing to provide our soldiers with the best technology possible.”
For the US Army, the Next Generation Squad Weapons (NGSW) is a family of products that includes a Rifle (NGSW-R) and an Automatic Rifle (NGSW-AR) that integrate an advanced fire control and common 6.8mm ammunition. The NGSW-FC is an advanced individual fire control device that supports the NGSW-R, NGSW-AR, and other individual and squad weapon systems. The L3Harris NGSW-FC prototype utilizes open architecture to deliver to an initial augmented core capability followed by increasing increments of capability over time as technology matures and evolves.
“We are excited with this new major win as it both showcases our unique technological capabilities and represents a major new production opportunity for Kopin,” said Dr. John C.C. Fan, President of Kopin Corporation. With our full suite of microdisplays including LCD, LCOS and OLED, Kopin has become the microdisplay provider of choice for defense and enterprise applications. With our expertise in optics and specialized IC chips we have now expanded our capabilities to include high level integrated modules and subsystems. With the increased demand for AR and VR applications from both defense and enterprise customers, we are very enthused about Kopin’s positioning in this growing market segment.”
Kopin Corporation is a leading developer and provider of innovative display and optical technologies sold as critical components and subassemblies for military, 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.
About L3Harris Technologies
L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defensive and commercial technologies across air, land, sea and cyber domains. L3Harris has approximately $18 billion in annual revenue and 48,000 employees, with customers in more than 100 countries. https://www.L3harris.com
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:the US Army’s plan to procure up to 250,000 systems and our expectation that deliveries of initial prototypes are to start in third quarter of this year and early production is to commence in mid-2021. 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 28, 2019, or as updated from time to time in the Company’s Securities and Exchange Commission filings.
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Bill Maffucci, 508-870-5959
VP of Government Programs,
Richard Sneider, 508-870-5959
Treasurer and Chief Financial Officer
Market Street Partners
Joann Horne, 415-445-3233