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Investing.com -- Kopin Corporation (NASDAQ:KOPN) stock rose 2.5% today after the company announced it received a contract update from Lockheed Martin (NYSE:LMT) for the second phase of development for the Next-Generation Short-Range Interceptor (NGSRI) Visual Display Subsystem.
The contract update funds the build and testing of a new high-resolution visual display assembly incorporating Kopin’s proprietary organic light emitting diode (OLED) microdisplays, drive electronics, and optical designs. These components will be integrated into the Command Launch Assembly, a critical system in the U.S. Army’s NGSRI initiative.
Under Phase 2, Kopin will deliver fully assembled "All-Up Round" units - complete visual display subsystem assemblies that will be used in various simulated and operational missile launch test scenarios. The NGSRI program aims to enhance the capabilities of short-range missile defense systems.
"We are very pleased to have received the Phase 2 award for this critical program," said Bill Maffucci, Kopin’s Senior Vice President of Business Development and Strategy. "We believe Kopin’s high-performance VDS assemblies offers an ideal solution for advanced missile systems and look forward to supporting the continued success of the NGSRI program."
Kopin Corporation specializes in application-specific optical systems and high-performance microdisplays for defense, training, enterprise, industrial, consumer, and medical products. The financial terms of the contract update were not disclosed.
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