ROCHESTER, NY--(Marketwire - February 08, 2011) - Vuzix Corporation (TSX-V: VZX) (OTC BB:VUZI.OB) ("Vuzix" or the "Company") announced today that it will deliver its first volume shipments of Tac-Eye LT(R) displays to the U.S. Air Force's Battlefield Air Operations Kit Program over the next ninety days. The Tac-Eye LT is a next generation wearable display solution for viewing computer data or video from a variety of video sensors. The system was developed over the last five years with funding support from various U.S. military commands including the Air Force Research Laboratory, Air Force Special Operations Command and the U.S. Special Operations Command.
Tac-Eye is a lightweight, ruggedized head mounted display built for military applications. The display mounts to any standard issue ballistic eyewear or helmet and connects to any laptop or computer system. It also has the ability to stream video from tactical cameras, unmanned aircraft and robots, unattended sensor systems, and some radio devices. Designed and tested to the 810G and IP67 environmental standards, the Tac-Eye LT is becoming the first choice for many Warfighter video applications.
"Vuzix is proud to support the Battlefield Airmen, who have provided instrumental input to the successful design and development of the Tac-Eye LT," said Paul Travers, President & CEO. He continued, "The combat reviews and comments from the Battlefield Airmen community allowed us to customize our product to their specific needs and ultimately made Tac-Eye a better product. The Tac-Eye will help to increase the Airmen's situational awareness, decrease their carried combat load, and increase their safety while on the battlefield."
The award is expected to represent approximately $3 million of new business to Vuzix if all options of the contract are exercised, with these first deliveries representing over $1 million.
About Vuzix Corporation
Vuzix is a leading supplier of Video Eyewear products in the defense, consumer and media & entertainment markets. The Company's products, personal display devices that offer users a portable high quality viewing experience, provide solutions for mobility, thermal sighting systems, tactical wearable displays, and virtual and augmented reality. With its origins in defense research and development for next generation display solutions, Vuzix holds over 51 patents in the Video Eyewear field. The company has won 9 Consumer Electronics Show Innovations Awards, the RetailVision Best New Product and several wireless technology innovation awards, among others. Founded in 1997, Vuzix is a public company (TSX-V: VZX) (OTC BB:VUZI.OB) with offices in Rochester, NY, Oxford, UK and Tokyo, Japan. For more information visit www.vuzix.com.
Forward-Looking Statements Disclaimer
Certain statements contained in this 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, among other things, future product releases, new opportunities, the Company's ability to capitalize on new opportunities and the Company's leadership in the Video Eyewear industry. They are generally identified by words such as "plans," "seeks," "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 from those projected in the Company's forward-looking statements due to, among other things, our ability to raise necessary capital; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the timing of new product launches; delays in product development; and dependence on third parties for certain key components. These risk factors and others are 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 www.sedar.com or 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further press and product information, please contact:
VP Corporate Communications
75 Town Centre Drive
Rochester, NY USA
Tel: (585) 359-5910
VP of Sales
Tactical Display Group
75 Town Centre Drive
Rochester, NY USA