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Precision Optics Corporation, Inc. - POCI STOCK NEWS

Welcome to our dedicated page for Precision Optics Corporation news (Ticker: POCI), a resource for investors and traders seeking the latest updates and insights on Precision Optics Corporation stock.

Precision Optics Corporation, Inc. (NASDAQ: POCI) is a leading designer and manufacturer of cutting-edge optical instruments, primarily serving the medical, defense, and aerospace industries. Founded in 1982, this Gardner, Massachusetts-based company has cemented its place in the market by leveraging its proprietary micro-optics and advanced 3D imaging technologies.

Core Business: Precision Optics specializes in developing and manufacturing high-quality optical medical devices, including endoscopes and endocouplers, which are crucial for minimally invasive surgical and diagnostic procedures. The company is also known for designing custom optical solutions tailored to meet specific client needs in the medical, industrial, and military sectors.

Recent Achievements: On December 4, 2023, the company announced a significant production and technology license agreement with a leading surgical robotics firm. This agreement involves the supply of a single-use endoscope assembly for cystoscopy robotic surgery systems, a project that emerged from joint developmental efforts over the past 18 months.

Current Projects: Precision Optics is gearing up for the mass production of the single-use endoscope assembly, expected to start within six to twelve months. This new venture aligns with the company's strategic push into the rapidly growing single-use medical device market, a segment experiencing higher growth rates compared to the broader medical device sector.

Financial Condition: The company's latest financial results for Q2 of fiscal year 2024 indicate steady progress. Despite some fluctuations in revenue due to timing differences and new program rollouts, Precision Optics reported a 12% increase in total revenue compared to the previous quarter, driven by record engineering revenue and new production programs.

Partnerships: The company continues to forge strong partnerships within the medical and defense industries. These collaborations are facilitated by Precision Optics' in-house capabilities in design, prototyping, regulatory compliance, and mass manufacturing, supported by its Lighthouse Imaging and Ross Optical divisions.

Products: Within the healthcare sector, Precision Optics focuses on next-generation medical devices, including single-use instruments and 3D endoscopy systems. The company also extends its expertise to the defense and aerospace sectors, delivering high-quality optical components that meet rigorous standards for size, weight, and power optimization.

For more information, please visit www.poci.com.

Rhea-AI Summary

Precision Optics (NASDAQ: POCI) reported third-quarter fiscal year 2024 results, showing a 4% increase in revenue to $5.2 million from $5.0 million in the same quarter last year. Engineering revenue surged 62% to $2.3 million, while production revenue decreased to $3.0 million from $3.6 million the previous year. Gross margins improved to 35.5% from 34.4%. The net loss narrowed to ($317,055) from ($398,432) last year, and adjusted EBITDA rose to $52,012 from $9,456.

In April and May 2024, the company secured significant production orders, including a $9 million cystoscopy surgery program and orders from major defense contractors totaling nearly $2 million. CEO Joseph Forkey highlighted the company's growth and strategic positioning in the medical devices and defense sectors.

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Precision Optics , Inc. (NASDAQ: POCI) announced a record $9 million production order for single-use endoscope assemblies for cystoscopy surgery. This order highlights the company's technological capabilities and growth potential in the single-use medical device market. The order is expected to generate approximately $2.2 million in revenue by June 2025, $4.6 million in fiscal 2026, and the remainder by the first half of fiscal 2027.

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Precision Optics , Inc. (Nasdaq: POCI) has scheduled a conference call to discuss third quarter fiscal year 2024 financial results on May 15, 2024. The Company will release its financial results and file its 10-Q after the market closes on the same day. Interested parties can access the call via phone or webcast.

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Precision Optics , Inc. (NASDAQ: POCI) has announced the receipt of a $1.25 million follow-on production order from a major U.S. defense contractor for a highly complex optical assembly. The order is expected to be delivered over the next 6 to 12 months, with the customer showing increased internal demand for the product. This order signifies a strong relationship between Precision Optics and the defense contractor, highlighting the company's innovative capabilities in micro-optics for defense applications.
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Precision Optics , Inc. (POCI) will be presenting at the Planet MicroCap Showcase: VEGAS 2024 on May 1, 2024, and holding 1x1 meetings on May 2, 2024. Dr. Joe Forkey, CEO, and Wayne Coll, CFO, will be presenting at the conference. The presentation can be accessed via webcast on the company's website. In-person meetings can be arranged with management by contacting Planet MicroCap or Lytham Partners.
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Precision Optics , Inc. (NASDAQ: POCI) has announced the receipt of a $720,000 follow-on production order from a top-tier defense/aerospace customer for a new optical application. This order adds to the initial $680,000 production order received in September 2023, and $517,000 in follow-on orders in November and December 2023, bringing the total production orders for this application to over $1.9 million. The company's innovative optical assembly has met high-performance requirements, leading to multiple follow-on orders expected to be delivered by August 2024. CEO Dr. Joe Forkey expressed confidence in strong revenue growth for fiscal year 2024 and anticipated continued order volumes for the next fiscal year and beyond, signaling expansion in the defense and aerospace market.
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Precision Optics Corporation, Inc. (NASDAQ: POCI) reported Q2 2024 financial results with an 18% revenue decrease to $4.8 million, a net loss of ($758,802), and adjusted EBITDA of ($269,034). The company saw a 33% increase in engineering revenue and signed production agreements with major medical device and surgical robotics companies.
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Precision Optics Corporation, Inc. (Nasdaq: POCI) has scheduled a conference call to discuss its second quarter of fiscal year 2024 financial results. The call will take place on Wednesday, February 14, 2024, at 5:00pm ET. Interested parties can access the call through dial-in information or a live webcast. The Company intends to release its financial results and file its 10-Q after the close of the market on the same day, followed by the conference call.
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Precision Optics Corporation, Inc. (NASDAQ: POCI) announced CEO Dr. Joe Forkey's participation in the Lytham Partners 2024 Investor Select Conference. The company will host a webcasted fireside chat and one-on-one meetings with investors. The webcast will be available for replay, and investors can arrange meetings with management via Lytham Partners.
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Precision Optics Corporation, Inc. (NASDAQ: POCI) has signed a production and technology license agreement with a leading surgical robotics company to supply a single-use endoscope assembly for their cystoscopy robotic surgery system. The agreement reflects the successful joint product development initiatives and leverages POC's unique micro-optics and digital imaging technologies. Production is set to begin at POC's facilities in the next six to twelve months, with potential transfer to the customer's or a third-party manufacturer's facilities in the future. The market for single-use medical devices is growing rapidly, and POC is well-positioned to capitalize on this trend.
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FAQ

What is the current stock price of Precision Optics Corporation (POCI)?

The current stock price of Precision Optics Corporation (POCI) is $5.09 as of December 6, 2024.

What is the market cap of Precision Optics Corporation (POCI)?

The market cap of Precision Optics Corporation (POCI) is approximately 31.6M.

What does Precision Optics Corporation, Inc. specialize in?

Precision Optics Corporation specializes in designing, developing, and manufacturing advanced optical instruments, particularly for the medical, defense, and aerospace industries.

What are some of the key products offered by Precision Optics?

The company offers endoscopes, endocouplers, and custom optical medical devices, as well as components designed for industrial and military use.

What recent achievements has Precision Optics Corporation announced?

Recently, the company signed a production and technology license agreement with a leading surgical robotics firm for a single-use endoscope assembly used in cystoscopy robotic surgery.

What sectors does Precision Optics serve?

Precision Optics serves the medical, defense, and aerospace sectors, supplying advanced optical instruments and components.

What are the company's recent financial highlights?

For Q2 of fiscal year 2024, the company reported a 12% increase in total revenue compared to the previous quarter, driven by new production programs and record engineering revenue.

Who are Precision Optics' partners?

The company partners with leading firms in the medical, defense, and aerospace industries, leveraging its in-house capabilities and divisions like Lighthouse Imaging and Ross Optical.

When was Precision Optics Corporation founded?

Precision Optics Corporation was founded in 1982.

Where is Precision Optics Corporation headquartered?

The company is headquartered in Gardner, Massachusetts.

What is the focus of Precision Optics in the medical device market?

The focus is on developing next-generation medical devices, including single-use instruments and 3D endoscopy systems, to meet the increasing demands of minimally invasive surgeries.

How can I learn more about Precision Optics Corporation?

For more information, you can visit their website at www.poci.com.

Precision Optics Corporation, Inc.

Nasdaq:POCI

POCI Rankings

POCI Stock Data

31.56M
4.85M
24.86%
32.15%
0.07%
Medical Instruments & Supplies
Electromedical & Electrotherapeutic Apparatus
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United States of America
GARDNER