By Roshan Fernandez
Kopin's stock gained during Tuesday's trading after the wearable technology company announced a multi-year, $7.5 million contract to supply helmet-mounted display systems for aircraft pilots.
Shares rose about 20% to $1.12. Despite the intraday gains, the Westborough, Mass.-based company's stock is down about 18% year to date.
Kopin, a Department of Defense contractor which works on aerospace and defense solutions, said the new order adds to $6 million in orders already received for pilot helmet displays, bringing the company's total backlog for pilot helmet displays to $13.5 million this year.
The display systems provide augmented reality capabilities, and help pilots enhance situational awareness during missions. Pilots also can interact with aircraft systems using the displays.
"Kopin's microdisplays play a crucial role in enhancing the capabilities and effectiveness of military personnel, contributing to the success of various defense missions, globally," said Michael Murray, Kopin's chief executive.
Write to Roshan Fernandez at roshan.fernandez@wsj.com
(END) Dow Jones Newswires
April 22, 2025 12:24 ET (16:24 GMT)
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