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 announced the uplisting of its stock to the Nasdaq Capital Market, effective March 15, 2023. This approval allows the company's shares, ticker symbol OPXS, to move from OTCQB to Nasdaq without implementing a reverse split, a measure approved earlier by shareholders. CEO Danny Schoening expressed optimism about increased visibility and liquidity as a result of this change. Founded in 1987, Optex manufactures optical systems for the Department of Defense, serving U.S. military applications.
Optex Systems Holdings, Inc. (OTCQB:OPXS) reported a revenue decline of 6.9% for the three months ended January 1, 2023, totaling $4.04 million compared to $4.34 million in the same period last year. The gross profit also decreased by 12.9%, attributed to material shortages and labor issues. Operating income fell to a loss of $282,000, down from a profit of $15,000 previously. However, the company recorded new orders of $11.2 million, up 220% year-over-year, leading to a backlog increase of 51.3% to $40.1 million. The CEO anticipates improved sales performance in Q2-Q4 2023 despite ongoing supply chain challenges.
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