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KOPIN Kopin Reports Continued Strong Performance for Third Quarter 2021 $ 10.9 million Revenues , a 14 % increase year over year • 9th Straight Quarter of Year over Year Growth • FWS - I Shipments Ramping • Strength in 3D AOI Markets • Continued Strong Growth in Customer - Funded R & D for AR / VR Microdisplays • Progress in Technology Development and Commercialization of OLED 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 third quarter ended September 25 , 2021 . " We had strong third quarter results , with revenues increasing 14 % year over year , reflecting growing demand across our key markets , including defense , industrial and consumer , " said Dr. John C.C. Fan , CEO of Kopin . " This quarter was our 9th straight quarter of year - on - year growth . Revenues were again driven largely by our defense production programs and our customer funded development programs . In particular , our third quarter customer - funded R & D revenue increased approximately 60 % year over year , primarily driven by accelerating interest in our next generation of displays and our design and manufacturing expertise in rugged ' higher - level - assemblies ' which are sub - systems that include our displays , optics , electronics and ruggedized housings . " " On our second quarter results of operations call on August 3 , 2021 , we announced that we reduced shipments of our product for the FWS - I thermal weapon sight program while we worked with our customer to develop better processes for increased production rates . I am pleased to report that the process enhancements have been successfully implemented and we expect to have our highest shipping rate of products for the FWS - I program in the fourth quarter of 2021. As a reminder , the FWS - I thermal sight system uses a high - precision video ' see - through ' AR optical module using our CyberDisplay® LCDs and our custom - designed Pancake® optics . " Dr. Fan continued , " Other successes in the third quarter also included the receipt of a previously reported $ 1.1 million order to provide eyepieces for the Joint Effects Targeting System ( JETS ) , one of the two low rate initial production programs we reported in the second quarter of 2021 , which will be delivered through 2022. Our third quarter enterprise product revenues increased 65 % over the same quarter last year on the strength of sales into the 3D Automated Optical Inspection ( AOI ) market . During the third quarter of 2021 we announced a $ 3.2 million order from JUTZE Intelligence Technology ( JUTZE ) for our Spatial Light Modulators ( SLMs ) for JUTZE's 3D AOI and 3D Solder Paste Inspection ( 3D SPI ) equipment . We also continued to make progress in commercializing our organic light emitting diode display ( OLED ) technologies with additional orders for our OLED . " " We are also on track with our defense customer - funded development programs . We previously announced two development programs entered low - rate initial production during the second quarter of 2021 and we expect another defense development program to enter low - rate initial production during the fourth quarter of 2021. In addition , we have a robust pipeline of defense programs in development which we expect will fuel our defense revenues in the coming years , " said Dr. Fan .