ROCHESTER, N.Y., June 13,
2023 /PRNewswire/ -- Vuzix®
Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a
leading supplier of Smart Glasses and Augmented Reality (AR)
technology and products, is pleased to announce the receipt of a
follow-on OEM purchase order for engineering services and products
from a US-based company that is a leader in technologically
advanced and intelligent solutions for the global aerospace and
defense industry. The company expects this order will be delivered
over the next several months. This follow-on order brings the total
contract value to Vuzix thus far closer to a mid-six-figure
level.
This follow-on contract is for Phase 2 development of components
for a lightweight heads-up display (HUD) for technologies
previously supplied by a non-US company. This defense customer is a
supplier of several existing programs and has turned to Vuzix as a
US-based manufacturer of waveguide and display technologies.
"Our development efforts with some of the country's largest
defense contractors continue to progress at a steady pace," said
Paul Travers, President and Chief
Executive Officer at Vuzix. "There is a significant need for
advanced see-through display technologies that Vuzix remains in a
unique position to deliver as a leading-edge US-based designer and
manufacturer of waveguides and related technologies. We look
forward to working with this customer and ultimately achieving a
production award for a finalized solution."
About Vuzix Corporation
Vuzix is a leading designer, manufacturer and marketer of Smart
Glasses and Augmented Reality (AR) technologies and products for
the enterprise, medical, defense and consumer markets. The
Company's products include head-mounted smart personal display and
wearable computing devices that offer users a portable high-quality
viewing experience, provide solutions for mobility, wearable
displays and augmented reality, as well OEM waveguide optical
components and display engines. Vuzix holds more than 300 patents
and patents pending and numerous IP licenses in the fields of
optics, head-mounted displays, and augmented reality Video Eyewear
field. Moviynt, an SAP Certified ERP SaaS logistics solution
provider, is a Vuzix wholly owned subsidiary. The Company has won
Consumer Electronics Show (or CES) awards for innovation for the
years 2005 to 2023 and several wireless technology innovation
awards among others. Founded in 1997, Vuzix is a public company
(NASDAQ: VUZI) with offices in: Rochester, NY; Oxford, UK; Munich,
Germany; and Kyoto and
Tokyo, Japan. For more
information, visit the Vuzix website, Twitter and Facebook
pages.
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are
"forward-looking statements" within the meaning of the Securities
Litigation Reform Act of 1995 and applicable Canadian securities
laws. Forward looking statements contained in this release relate
to Vuzix' business growth with this customer, future orders,
including potential volume production and the ultimate success of
their respective programs and among other things the Company's
leadership in the Smart Glasses and AR display industry. They are
generally identified by words such as "believes," "may," "expects,"
"anticipates," "should" and similar expressions. Readers should not
place undue reliance on such forward-looking statements, which are
based upon the Company's beliefs and assumptions as of the date of
this release. The Company's actual results could differ materially
due to risk factors and other items described in more detail in the
"Risk Factors" section of the Company's Annual Reports and MD&A
filed with the United States Securities and Exchange Commission and
applicable Canadian securities regulators (copies of which may be
obtained at www.sedar.com or www.sec.gov). Subsequent events and
developments may cause these forward-looking statements to change.
The Company specifically disclaims any obligation or intention to
update or revise these forward-looking statements as a result of
changed events or circumstances that occur after the date of this
release, except as required by applicable law.
Media and Investor Relations Contact:
Ed McGregor, Director of Investor
Relations
Vuzix
Corporation
ed_mcgregor@vuzix.com
Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com
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SOURCE Vuzix Corporation