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. (NASDAQ: OPXS) is a Richardson, Texas based manufacturer of precision optical sighting systems and assemblies serving domestic and worldwide military and commercial applications. This news page aggregates company announcements, earnings releases, contract awards, and other updates related to OPXS, reflecting its role in the optical instrument and lens manufacturing sector and its focus on Department of Defense applications.
In its news releases, Optex highlights financial results prepared in accordance with GAAP, along with non-GAAP measures such as Adjusted EBITDA, and discusses trends in revenue, gross profit, operating income, net income, working capital, and backlog. Investors can follow announcements of quarterly and annual financial highlights, as well as notices of upcoming earnings calls and investor conference presentations disclosed through press releases and 8-K filings.
Optex’s news flow also features defense-related contract awards and orders, including firm fixed price purchase orders for laser protected periscopes, requirement-type contracts for Abrams-based optical sighting systems, and orders for optical sub-assemblies from long-term commercial customers. These updates provide insight into the company’s backlog, program wins, and demand across its Optex Systems Richardson and Applied Optics Center segments.
Personnel and governance updates are another recurring theme, with announcements covering leadership changes such as the appointment of a new President and Chief Executive Officer, the creation of a Chief Executive Officer role in its bylaws, and the addition of specialized roles like the Director of Optical Coating Technology. By reviewing OPXS news, readers can track developments in executive leadership, optical coating capabilities, and the company’s participation in investor conferences.
For investors and observers of the defense optics space, this page offers a centralized view of OPXS news, from earnings and SEC-related disclosures to contract awards and operational milestones in optical sighting systems and assemblies.
Optex Systems Holdings (OTCQB:OPXS) received the BAE Systems Partner2Win Gold Supplier of the Year Award on November 1, 2022. This award recognizes Optex's exceptional performance and contributions to the supply chain for BAE's combat and amphibious vehicle programs. BAE Systems' Partner2Win program aims to promote operational excellence among suppliers, enhancing quality standards. Optex manufactures precision optical sighting systems primarily for military applications, contributing to various U.S. military vehicles and systems.
Optex Systems Holdings (OTCQB:OPXS) has received a 5-year IDIQ contract valued at $7.5 million for spare Light Interference Filters for Night Vision Goggles.
The average annual revenue is projected to be between $1 million and $1.5 million. The contract confirms the company’s strong performance on a prior contract. The backlog now exceeds $40.2 million. With its ISO certification, Optex specializes in optical systems primarily for military applications. This contract underscores Optex's reliability and growth potential in defense contracts.
Optex Systems Holdings (OTCQB:OPXS) has secured a $3.4 million contract from the Government of Israel for the repair and refurbishment of night vision equipment. The majority of the work will be conducted at their Richardson, Texas facility throughout 2023. This new order contributes to an existing backlog exceeding $40 million. CEO Danny Schoening expressed confidence in Optex's capabilities, citing their expertise and vertical integration, which enables in-house repairs to meet original equipment specifications.
Optex Systems Holdings (OTCQB:OPXS) announced the appointment of Dayton Judd to its Board of Directors, enhancing its leadership team. Judd brings diverse industry experience, previously serving as CEO of FitLife Brands and holding positions at Q Investments and McKinsey. Chairman and CEO Danny Schoening expressed confidence that Judd's expertise will support Optex's growth trajectory. Founded in 1987, Optex specializes in optical sighting systems for military applications, supplying products to the U.S. Department of Defense.
Optex Systems Holdings (OTCQB:OPXS) announces a $720,000 order from a major US Prime Contractor for the US Army's Mobile Protected Firepower (MPF) tank program. This order will help broaden Optex's product portfolio with Laser Protected Periscopes and Muzzle Reference Sensors, predominantly produced at their Richardson facility. The company's current backlog exceeds $36.6 million, indicating solid demand for its optical sighting systems.
Optex Systems Holdings announces a $1.75 million order to support the M1 Abrams Tank Program, reinforcing its ongoing partnership since the 1980s. This contract highlights Optex's role as a primary supplier of vital optical components for military vehicles. The company's backlog now exceeds $32.7 million, indicating strong demand for its products. Bill Bates, GM of the Applied Optics Center, expressed optimism about future requirements for these optics, essential for U.S. Armed Forces. Optex continues to manufacture vital components for military applications.
Optex Systems Holdings (OTCQB:OPXS) announced the final results of its modified Dutch auction tender offer, which purchased approximately $4.25 million worth of its common stock. A total of 1,727,926 shares were tendered, with Optex accepting 1,603,774 shares at $2.65 each, representing 19.3% of outstanding shares. Due to oversubscription, a pro-rated portion of shares was accepted, with a pro-ration factor of approximately 92.8%. Following the settlement, approximately 6,716,637 shares will be outstanding. Payment will be processed promptly according to legal requirements.
Optex Systems Holdings (OTCQB:OPXS) announced the preliminary results of its tender offer to buy back up to $4.25 million in shares at $2.65 each, which ended on September 15, 2022. A total of 1,728,026 shares were tendered, and the company plans to purchase approximately 1,603,774 shares, representing about 19.3% of its outstanding shares. Due to oversubscription, a pro-ration factor of 92.8% is expected for tendering shareholders. The final numbers will be confirmed after the settlement period.
Optex Systems Holdings (OTCQB:OPXS) announced a $1.1 million order under a multi-year supplier agreement with a premium optical device manufacturer. This order contributes to a growing backlog now exceeding $31.1 million. Since 2015, total orders related to these products have surpassed $30.3 million. GM Bill Bates emphasized the continual growth of bookings at the Applied Optics Center, indicating strong customer relationships and operational confidence as they move into fiscal 2023.
Optex Systems Holdings (OTCQB:OPXS) has secured a $2.23 million order under a multi-year agreement with a domestic manufacturer of premium optical devices. This order contributes to the total backlog, which now exceeds $29.9 million. Since 2015, total orders for optical sub-assemblies have surpassed $28.9 million. The Applied Optics Center in Richardson, Texas is responsible for manufacturing. The press release emphasizes the company's commitment to quality and the importance of maintaining skilled employees in sustaining long-term partnerships.