June 24, 2014

Kopin receives $9M military application order

Westborough-based Kopin Corp. said it has received a $9 million order for display modules in support of the U.S. Army's Thermal Weapon Sight (TWS) program.

The order is expected to boost Kopin's 2014 revenues by $6 million. The customer could increase their option with Kopin to $13 million by exercising options, the company said.

Kopin said it has recorded more than $300 million of revenue from the defense sector, and delivered more than 200,000 display units to the TWS programs with essentially zero returns.

"We were informed that reliability issues were discovered with the alternative (competing) display technology during extensive testing," Michael Presz, vice president of government programs, said in a statement. "Our unique…technology, however, has demonstrated proven performance and reliability for the TWS program in over 15 years of deployment."

The order calls for immediate delivery of Kopin's display modules and continued production over the next nine months, the company said. In the options are exercised, production would continue well into 2015.

As a result of the order, Kopin's 2014 revenue projections have increased from $18 to $22 million, to $24 to $28 million.

Kopin said it has patents pending on its smart weapon sight system, and believes they could represent a major revenue opportunity if installed on millions of existing commercial and military weapon sights worldwide.


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