Vuzix Corporation (NASDAQ:VUZI), a leading supplier of smart glasses and augmented reality (AR) technology and products, has announced it has received a low six-figure dollar follow-on order for additional customized waveguide-based head-worn AR display engines from a major US defense contractor.
The Rochester, New York-based company said it expects further non-recurring engineering (NRE) revenues in subsequent phases before a customer-accepted final product design leads to an eventual production program order.
"We are very pleased with the progress we continue to make with this major US defense contractor as we pursue an ultimate production opportunity with them," Vuzix president and CEO Paul Travers said in a statement.
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"OEM (original equipment manufacturer) custom waveguide-based projects such as this represent a profitable vehicle for leveraging our extensive optical expertise and IP (intellectual property) and we look forward to announcing further developments with this firm as this project proceeds,” Travers added.
Vuzix holds 245 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 2022 and several wireless technology innovation awards among others.
The company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, and provide solutions for mobility, wearable displays and augmented reality.
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