Kopin Corporation (NASDAQ: KOPN), a leading provider of application-specific optical solutions and high-performance micro-displays for defense, enterprise, consumer and medical products, today announced it has received a contract to develop a high-resolution eyepiece assembly for use in the new Commanders Launch Assembly (CLA), used in the US Army’s Next Generation-Short Range Interceptor (NG-SRI) system.

The U.S. Army has long-planned to pursue a next-generation interceptor for short-range air defense; and the effort has become even more urgent with US stockpiles of Stinger missiles now being sent to support in Ukraine. The Army is pursuing a Stinger missile replacement for short-range air defense that can achieve faster speeds, overcome enemy radio-frequency jamming and hit more challenging targets, like drones, with greater precision and accuracy, according to the service’s Program Executive Officer for Missiles and Space.

More than 100,000 Stinger missiles were produced during the production run of the original version. The Army no longer builds the original version of the Stinger missiles and envisions replacing the old missiles and future demands, with the NG-SRI design.

“We are very pleased to be selected for this important program; and we believe a Kopin high performance Organic Light Emitting Diode (OLED) microdisplay, when coupled with our proprietary wide field-of-view optics, is an ideal solution for NG-SRI,” said Bill Maffucci, Kopin’s Senior Vice President of Business Development and Strategy. “We believe the opportunity to supply our eyepiece assemblies for missile launch targeting and control systems provides Kopin with a significant expansion of our market, product base, production quantities and significant revenue potential of approximately $5 million to $10 million per year, for several years, once production begins.”

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 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.

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 our belief that a Kopin’s high performance Organic Light Emitting Diode (OLED) microdisplay, when coupled with our proprietary wide field-of-view optics, is an ideal solution for NG-SRI; and our belief that the opportunity to supply our eyepiece assemblies for missile launch targeting and control systems provides Kopin with a significant expansion of our market, product base, production quantities and significant revenue potential of approximately $5 million to $10 million per year, for several years, once production begins. 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 30, 2023, or as updated from time to time our Securities and Exchange Commission filings.

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