ROCHESTER, N.Y., July 16, 2020 /PRNewswire/ --Vuzix Corporation(NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, announced it has delivered a customized commercial and defense avionics waveguide-based head mounted display (HMD) system to a global Tier-1 Aerospace firm as part of the work effort associated with the fourth phase of product development for this customer.
(PRNewsfoto/Vuzix Corporation)
The customized HMD development program with this Tier-1 Aerospace firm that is targeting their commercial and defense customer base has continued to expand and move towards volume production orders since it was first announced in 2018. Phase IV of this program was originally announced by Vuzix on April 20, 2020. To date, the Company has now received approximately $1,300,000 in non-recurring engineering services revenues on this program. As part of the next steps, the customer and the Company are now negotiating a supply agreement for volume production of this customized HMD waveguide and HD display engine product, with deliveries commencing as early as fall 2020. Contemplated quantities should represent a significant revenue opportunity for Vuzix, with ongoing deliveries over several years depending on end customer demand.
"We are very pleased with the progress we continue to make with this major aerospace/defense customer as we pursue a significant production opportunity in the avionics space," said Paul Travers, President and CEO of Vuzix. "OEM custom waveguide-based projects such as this should represent a profitable vehicle for leveraging our extensive optical expertise and IP and we look forward to announcing further developments with this firm, as well as numerous others, going forward."
About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 166 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2020 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, and Tokyo, Japan. For more information, visit Vuzixwebsite,TwitterandFacebookpages.
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 avionics partner, the success of this program, future engineering services projects and/or volume production orders, their timing, length of production programs, if any, 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 http://www.sedar.com or http://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.
Story continues
More here:
- why can't i print in the message area? [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- smoke detectors [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- Insulation drawings [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- Boiler. [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- Electrical Harmonics [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- axial thrust [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- Pl inform which make suitable for this specification [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- CapsLock [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- How to Calculate Drag Reduction Factor for surge analysis [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- cable..pls help [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- 11Kv joints [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- how to calculate required torque? [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- IP rating for enclosures [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- 11kv JOINTS SPACING ON PARALLEL CABLES [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- beep sounds [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- Increse speed of pneumatic cylinder [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- Pipe fittings-Manufacturing/Quality Assurance [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- kango memolition hammer [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- Loss calculation in undergound Transmission Cables [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- Design in ASP.NET [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- axial pump [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- Auger bit [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- Pipe [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- Centrifugal oil filter ideas [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- When to install Horizontal Condensate Pot (Probably also called Spun Type) ?? [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- Confusion about a Resistance Bulb [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- Loop testing for a NON-HART 4 wire instrument [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- My VAWT Project, next phase [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- voltage doubler [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- How to build corners and joints using Red Oak timbers? [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- THERMAL OIL BOILER [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- How Do You Get a Degree in Green Energy? [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- deareator pegging [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- 99 ford ranger with no brake pedal at all [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- CAD tool for electronic circuitry design [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- hvac [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- Unfinalized video miniDVD data recovery [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- eletronics [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- codless phones programming [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- Effectiveness in cooling a drink with ice than water? [Last Updated On: November 7th, 2009] [Originally Added On: November 7th, 2009]
- Free Vibration Analysis of Tapered Composite Wings [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Can You Treat Composite Beams or Wings Mathematically like Isotropic Wings? [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Particle, Particle in Space, Tell Me About Earthquakes [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Russian Rocket Engine – Best in the World [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- New Online Evaluation of Laminated Composite Stiffnesses [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- 'Autonomous' helicopters teach themselves to fly [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Next Target – Jupiter [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- NASA's FERMI, Space, and Time [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Lunchtime Salon Today in L.A. [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- A vote for McCain is a vote against science [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- NASA Study Investigates Mental Overload in Pilots [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- NASA Releases Columbia Crew Safety Report [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- What the Stimulus Package Means for Science [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- All Scientists Have Conflicts of Interest (Duh) [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Congress Considers Killing Open-Access Journals [Last Updated On: November 8th, 2009] [Originally Added On: November 8th, 2009]
- Transmission Swing Angle [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Long Weld Neck Flanges [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Super Critical Fluid Extraction for Rose Oil [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Capacitor Bank Calculations [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Power Supplies and Dummy Loads [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Standards for Piping Vibration [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Automatic Generator Changovers [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Synchronous Generators [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Suzuki Swift Brakes - Squeaks and Whistles [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Flange Serration [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Hydraulic Shapes and Reciprocating Machines [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- No Shortage of Engineers After All! [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Delta Starter Diagram [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- 2002 Chevy Duramax Diesel - Low Voltmeter Reading [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Energy Survey and Consumer Mapping Methodoogy [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Setback for Geothermal Energy [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Darlington Amplifier [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Diesel Storage Tank Design [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Car MPG Questions [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Dark LCD Display [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Calculating the Strength of Concrete Floors [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Hitachi Projection TV [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- WW II Water-Injected Engines [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Soap to Prevent A1H1N1 Contamination [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]
- Car won't shift out of first gear [Last Updated On: December 12th, 2009] [Originally Added On: December 12th, 2009]