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KOPIN Kopin Reports Solid Results for Second Quarter 2021 • $ 9.9 million revenues , a 12 % increase year over year • Developed World's First 35,000 nit HDR Green OLED Microdisplay • Inked Development Agreement with Leading Japanese Company for Color LED Microdisplay • Introduced the First All - Plastic Pancake® Optics for VR and MR WESTBOROUGH , Mass . - Kopin® Corporation ( Nasdaq : KOPN ) , a leading provider of high - resolution microdisplays and subsystems for defense , enterprise and consumer augmented reality ( AR ) , virtual reality ( VR ) and mixed reality ( MR ) systems , today provided an update on its business initiatives and reported financial results for the second quarter ended June 26 , 2021 . " We are pleased with our second quarter results as we continued to see growing demand for our products across our key business segments , including defense , enterprise and consumer , " said John C.C. Fan , CEO of Kopin . " In our defense business , we remain on track as two development programs have entered low - rate initial production ( LRIP ) and we expect another program to enter LRIP in the fourth quarter of 2021. Our F - 35 Joint Strike Fighter program continues strong as we announced during the quarter an additional order that extends deliveries into the first quarter of 2022. During the second quarter ended June 26 , 2021 , we reduced shipments of our product for FWS - I thermal weapon sight systems while our customer makes system and production enhancements . We are working closely with them and expect the lower shipment rate to continue during the third fiscal quarter and then to increase in the fourth fiscal quarter of 2021 to make up some of the shortfall . Despite this short - term slow down , the program remains very strong , and we expect a follow - on order in the third quarter of 2021. " Dr. Fan continued , " As discussed during our first quarter call , we have continued to increase our R & D activities as we see significant opportunities in the AR and VR space . Our customer - funded R & D revenue increased approximately 59 % year over year , as a result of driving interest in our next generation displays and display technology programs . We continued significant advancements during the quarter with our organic light emitting diode display ( OLED ) technologies , including the world's first 35,000 nit HDR green OLED microdisplay that delivers an unprecedented brightness level which is an important feature for many avionic and AR applications . We also announced what we believe is the first All - Plastic Pancake ™ M Optics . These patented optics provide dramatic improvements in both size and weight compared to the glass optics available today , removing a significant barrier to consumer acceptance of AR and VR glasses and headset designs . We have already received interest from potential customers about our Pancake Optics , " said Dr. Fan . " We also just announced a multi - year development agreement with a leading global consumer electronics partner to develop a 1 " -diagonal 2K x 2K full - color LED microdisplay . Superhigh - resolution full - color LED microdisplays with brightness approaching 100,000 nits can create new and exciting applications for microdisplays and satisfy the demanding requirements of certain AR and MR applications . The LED microdisplays from this collaboration will expand our microdisplay portfolio , making us the world's only provider of LCD , LCOS , OLED and LED microdisplays on silicon . Our wide portfolio of products allows us to offer our customers the best product and technology solution for their particular application . "