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) 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.
Optex Systems Holdings (OTCQB:OPXS) has secured an $8.4 million purchase order for laser filters, awarded as part of a 24-month contract. This order is expected to enhance the company's backlog, which now exceeds $23 million. Bill Bates, GM of the Applied Optics Center, emphasized the importance of developing next-generation laser filters to protect military personnel and equipment. Founded in 1987, Optex specializes in precision optical systems for military and commercial applications, contributing to various U.S. military vehicles.
Optex Systems Holdings reported a steep revenue decrease of $2.7 million (38.9%) and $4.1 million (32.1%) for the three and six-month periods ended March 28, 2021, respectively. The gross margin also declined significantly by $1.2 million (76.7%) and $1.9 million (60.7%). Operating income shifted to a loss of $0.4 million for the quarter and $0.3 million for six months. The company attributes these declines to reduced production volume and fixed manufacturing costs. Despite challenges, CEO Danny Schoening expressed optimism for improved margins as revenues rise following cost-reduction measures.
Optex Systems Holdings reported a 24.1% revenue decline to $4.5 million for Q1 2021, reflecting lower customer order backlog. Gross margin also decreased by 43.1% to $835,000.
Despite a $1.1 million net income, operating income fell 89% to $79,000 due to reduced production and unfavorable overhead costs. The backlog decreased by 8% to $15 million, while cash reserves remain stable at $4.6 million. The company anticipates a 25-30% revenue drop in H1 2021, influenced by the ongoing impacts of COVID-19 on government procurement.
Optex Systems Holdings (OTCQB:OPXS) has announced the launch of mil-spec quality High Efficiency Anti-Reflective Coatings for Infrared applications, enhancing its offerings for military and commercial sectors. Manufactured at its Applied Optics Center in Dallas, Texas, these coatings will serve U.S. government and prime contractors, building on a legacy of critical optical components for major military platforms. The company plans to expand its product range in the infrared market through ongoing investments in engineering and equipment.
Optex Systems Holdings (OTCQB:OPXS) reported a 9.4% increase in revenue for Q3 FY2020, totaling $5.8 million, and a 1.9% increase in revenue for the nine-month period at $18.7 million. The company anticipates higher revenue in Q4 due to new contract shipments and backlog adjustments. Despite a significant increase in gross margin to 25.3%, net income turned negative at $(95,000) due to losses on warrant fair value changes. Backlog decreased by 18.7% year-over-year to $20 million. The company remains optimistic about future revenue growth despite COVID-19 supply chain challenges.