Welcome to our dedicated page for Optex Systems news (Ticker: OPXS), a resource for investors and traders seeking the latest updates and insights on Optex Systems stock.
Optex Systems Holdings Inc. (OPXS) delivers precision optical solutions for critical defense applications, serving the U.S. military and prime contractors through advanced manufacturing and engineering. This dedicated news hub provides investors and industry professionals with essential updates on company developments, financial milestones, and defense sector innovations.
Access authoritative information about OPXS's government contracts, product advancements in optical sighting systems, and strategic initiatives. Our curated collection includes earnings announcements, major contract awards for vehicle platforms like Abrams and Stryker, and technological breakthroughs in night vision and laser-protected assemblies.
Key updates cover manufacturing quality certifications, backlog status for defense programs, and operational developments from the Richardson production facility. Stay informed about OPXS's role in enhancing military vehicle safety through cutting-edge periscope systems and surveillance technologies.
Bookmark this page for streamlined access to verified Optex Systems announcements. Check regularly for updates on defense industry partnerships, optical engineering advancements, and financial performance metrics essential for informed analysis.
Optex Systems Holdings, Inc. (Nasdaq:OPXS), a leading manufacturer of precision optical sighting systems, has announced $2.1 million in new contracts from two domestic customers for laser protected periscopes. These periscopes will support ongoing armored vehicle production, providing real-time situational awareness while protecting against harmful laser strikes.
The deliveries are expected to occur over the next 18 months. CEO Danny Schoening emphasized Optex's continued support for domestic armored vehicle manufacturers. With this new order, Optex's current backlog now exceeds $45 million.
Optex Systems Holdings, Inc. (Nasdaq:OPXS) reported strong financial results for Q3 2024. Revenue increased by 26.3% to $9.06 million for the quarter and 39.6% to $24.55 million for the nine months ended June 30, 2024. Gross profit surged 68.3% to $2.88 million for Q3 and 78.8% to $7.12 million for the nine-month period. The company's backlog grew 9.1% to $45.6 million compared to October 1, 2023. Net income more than doubled to $1.26 million for Q3 and tripled to $2.75 million for the nine-month period. The improved performance was attributed to increased deliveries, easing supply chain constraints, and improved operational efficiency.
Optex Systems, a key manufacturer of optical sighting systems, has secured a $2.5 million contract for Laser Filter Units for the XM-157 NGWS Scope.
This contract will span from August 2024 to July 2025. According to Bill Bates, General Manager of Applied Optics Center, the company remains dedicated to safeguarding the eyesight of U.S. military users through advanced laser protection devices.
With this new contract, Optex's backlog now exceeds $47 million, indicating strong future revenue prospects.
Optex Systems Holdings (NASDAQ:OPXS) announced its financial results for the three and six months ending March 31, 2024. The company reported a 33.8% revenue increase to $8.5 million for the quarter and a 48.8% increase to $15.5 million for the six-month period, driven by higher deliveries in both the Richardson and Applied Optics Center segments.
Gross profit surged by 64.6% to $2.6 million for the quarter and by 86.9% to $4.2 million for the six-month period. Operating income rose by $0.7 million to $1.4 million for the quarter and by $1.6 million to $1.9 million for the six months. The company had a net income of $1.1 million for the quarter and $1.5 million for the six-month period.
As of March 31, 2024, Optex reported $13.6 million in working capital, $0.3 million in cash, and an outstanding payable balance of $0.5 million against its line of credit. New orders decreased by 6.3% to $17.9 million, while the backlog increased to $44.2 million.
Optex Systems Holdings, a manufacturer of optical sighting systems, secured a $3.8 million contract from a U.S. Government Prime Contractor for laser protected periscopes. The contract supports the Armored Multi-Purpose Vehicle (AMPV) with deliveries over the next 14 months. Optex is the exclusive supplier for laser protected periscopes for armored vehicles produced for the U.S. Government. The AMPV project is important for the U.S. Army's Armored Brigade Combat Team (ABCT) strategy. With this contract, Optex's backlog exceeds $47 million.
Optex Systems Holdings, Inc. (NASDAQ:OPXS) has secured a $1.5 million contract from a U.S. Government Prime Contractor to support a Night Vision Goggle system, with deliveries scheduled throughout fiscal 2025. The company's Applied Optics Center, a primary supplier for laser interference filters and protective window assemblies, is set to benefit from this award, adding to their existing backlog of over $43.5 million.
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