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) reported financial highlights for the three and six months ended April 3, 2022. Revenue increased by $0.9 million (21.0%) for the quarter and $0.8 million (8.7%) for the half-year. The company anticipates a 30-35% revenue increase for the next six months and a 20-25% increase for the fiscal year. Despite a growing backlog, operating loss decreased significantly. The working capital was $12.6 million, with a cash balance of $4.9 million. Key growth drivers include increased orders in the Applied Optics Center segment.
Optex Systems Holdings (OTCQB:OPXS) has secured a $1.1 million order as part of a multi-year strategic agreement with a domestic manufacturer of premium optical devices. This order will be fulfilled at the Applied Optics Center Division and adds to the company's backlog, now exceeding $29.7 million. Since 2015, total orders for optical sub-assemblies have surpassed $26.7 million. Bill Bates, GM of AOC, emphasized their commitment to producing high-quality components for their long-standing client.
Optex Systems Holdings (OTCQB:OPXS) announced a $2.1 million order under a strategic supplier agreement with a domestic manufacturer for precision optical sighting systems. The products will be produced at their Applied Optics Center in 2022. This order reflects a strong ongoing relationship with the customer and brings the total orders since 2015 to $25.5 million. Optex's current backlog now surpasses $26.6 million.
Optex Systems Holdings, Inc. (OTCQB:OPXS) reported a 2.9% decline in revenue for Q1 2022, totaling $4.34 million, compared to $4.47 million in the same period last year. Operating income fell to $15,000, an 81% decrease from $79,000. Despite these setbacks, the backlog increased by 76.7% year-over-year to $26.5 million, reflecting strong demand for new military and commercial optical systems. The cash balance rose to $5.3 million, and management anticipates a recovery in demand, especially within the Applied Optics Center segment.
Optex Systems Holdings, Inc. (OTCQB:OPXS) was recognized with the BAE Systems Partner2Win Quality Supplier of the Year Award and Gold Medalist status for outstanding performance in 2021. This award highlights Optex's contributions to BAE Systems' Combat Mission Systems supply chain. The Partner2Win program aims to enhance operational excellence and reduce defects across suppliers, indicating Optex's role in maintaining high-quality standards. The achievement underscores the company's resilience during the COVID-19 pandemic, focusing on its critical defense applications.
Optex Systems Holdings (OTCQB:OPXS) reported financial results for the year ended October 3, 2021, with revenue declining by 29.6% to $18.2 million from the previous year. Gross margin also decreased by 58.6% to $2.5 million, leading to an operating loss of $0.5 million compared to a profit of $3.9 million a year prior. Despite challenges from the pandemic, backlog grew by 67.5% to $27.3 million, and new orders increased by 65.9% to $29.2 million. The company maintained a solid cash balance of $3.9 million as of October 3, 2021.
Optex Systems Holdings (OTCQB:OPXS) announced a significant $1.4 million order under a 5-Year Indefinite Delivery Indefinite Quantity contract for laser-protected periscopes from a U.S. Prime Customer. Deliveries are set to commence in 2022 and conclude in 2023. This order contributes to a current backlog of over $28 million, reinforcing Optex's position as a preferred supplier for the Department of Defense. CEO Danny Schoening highlighted ongoing support for both new production and spare parts for military units.
Optex Systems Holdings (OTCQB:OPXS) has initiated a $1.0 million stock repurchase program, effective immediately, following the successful completion of a prior buyback in April 2021. CFO Karen Hawkins emphasized that this move reflects the company's strong working capital position, enhancing shareholder value and market liquidity. Purchases will occur at prevailing market prices, with no guaranteed number of shares to be repurchased. The program underscores Optex's commitment to returning capital to investors.
Optex Systems Holdings has secured a $3.0 million order as part of a strategic supplier agreement with a domestic manufacturer of premium optical devices. This order, expected to be fulfilled over the next 12 months, raises total bookings from the agreement to over $23.3 million since 2015. The company now has a backlog exceeding $27 million. Optex, based in Richardson, Texas, specializes in precision optical sighting systems for military and commercial applications, with products utilized in various U.S. military vehicles.
Optex Systems Holdings (OTCQB:OPXS) announced financial results for the three and nine months ended June 27, 2021. Revenue fell by $1.4 million (24.2%) for the quarter and $5.5 million (29.6%) year-to-date. Gross margin also decreased significantly, leading to a net operating loss of $0.3 million for the nine-month period. Despite implementing cost-saving measures, a 30-32% reduction in expected annual performance is anticipated due to decreased orders attributed to COVID-19 impacts. The company reported a backlog of $12.9 million, down from $16.3 million.
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