New F-35 Fighter Jet and FWS-I Orders Extend Revenues Through Late
2019
Kopin Corporation (NASDAQ: KOPN),
a leading developer of innovative wearable computing technologies and
solutions, today provided an update on two contracts providing
components to the U.S. Defense Department.
Kopin is the sole supplier of displays for the helmets worn by pilots in
the F-35 Joint Strike Fighter jets. Kopin is currently shipping displays
into the F-35 program and has received an additional purchase order for
approximately $2.6 million which will extend scheduled shipments for the
period January 2019 through July 2019. The Company has also received a
new order for approximately $4.2 million related to the Family of Weapon
Sights Individual (FWS-I) program. This order covers shipments for the
period September 2018 through 2019. As previously announced, the Company
achieved full qualification for the FWS-I program to provide a digital
eyepiece module used in imaging rifle sights.
About Kopin
Kopin Corporation is a leading developer and provider of innovative
wearable technologies and critical components for integration into
wearable computing systems for military, industrial and consumer
products. Kopin’s technology portfolio includes ultra-small displays,
optics, speech enhancement technology, voice-interface and hands-free
control software, low-power ASICs, and ergonomically designed smart
headset reference systems. Kopin’s proprietary components and technology
are protected by more than 300 global patents and patents pending. 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 under the “Safe Harbor”
provisions of the Private Securities Litigation Reform Act of 1995.
These include, without limitation, statements relating our
expectation that we will ship displays into the F-35 program during the
period January 2019 through July 2019 and we expect to ship displays
into the FWS-I from September 2018 through 2019. 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, development or production issues may prevent displays from being
shipped into the F-35 andFWS-programs; either or
both the F-35 or FWS-I programs could be cancelled; we may not receive
additional orders for our components for the F-35 and FWS-I programs; we
may be designed out of the F-35 and FWS-I programs; 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 31, 2017, 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180912005199/en/
Kopin Corporation
Richard Sneider, 508-870-5959
Treasurer
and Chief Financial Officer
Richard_Sneider@kopin.com
or
Market
Street Partners
Joann Horne, 415-445-3233
JHorne@marketstreetpartners.com