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. reports developments tied to its business as a manufacturer of precision optical sighting systems and assemblies for defense and commercial applications. The company’s updates commonly cover contract awards for optical assemblies, laser protection filters, night vision goggle components, periscopes, rifle and surveillance sights, and other products used on military vehicle and optical programs.
News about OPXS also includes earnings releases, backlog and margin commentary, research and development activity, and appointments in optical engineering and optical coatings technology. Its recurring customer channels include direct military sales and work with prime contractors, with product references spanning platforms such as Abrams, Bradley, Light Armored and Armored Security Vehicles, and the Stryker family of vehicles.
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.