Vuzix Pockets Follow-On OEM Purchase Order From Major Defense Customer

Vuzix Corporation VUZI has bagged a follow-on OEM purchase order for engineering services and products from a U.S.-based company. The financial terms were not disclosed.

The customer provides technologically advanced and intelligent solutions for the global aerospace and defense industry.

Vuzix expects this order will be delivered over the next several months and is for Phase 2 development of components for a lightweight heads-up display (HUD) for technologies previously supplied by a non-U.S. company.

The follow-on order brings the total contract value to Vuzix thus far closer to a mid-six-figure level.

"Our development efforts with some of the country's largest defense contractors continue to progress at a steady pace," said Paul Travers, President and CEO at Vuzix.

Price Action: VUZI shares are trading higher by 6.59% at $5.35 on the last check Tuesday.