Precision Optics Corporation, Inc. reports recurring business developments in advanced optical instruments for the medical and defense/aerospace industries. The company designs, develops and manufactures custom optical medical devices, endoscopes, endocouplers and related optical assemblies, with news frequently covering single-use endoscopy programs and customer production orders.
Updates for POCI also include product-development work for aerospace and defense applications, including small-diameter borescope systems used in jet-engine inspection. Company announcements commonly address fiscal-period operating results, conference calls, customer program activity, backlog and pipeline commentary, and capital-structure actions involving its Nasdaq-listed common stock.
Precision Optics (Nasdaq: POCI), a designer and manufacturer of advanced optical instruments for medical and defense/aerospace industries, has scheduled a conference call for November 14, 2024, at 5:00pm ET to discuss first quarter fiscal year 2025 financial results. The company will release its financial results and file its 10-Q after market close on the same day. Interested parties can join via phone at (844) 735-3662 or (412) 317-5705, or through a live webcast. A replay will be available until November 21, 2024.
Precision Optics (NASDAQ: POCI) announced that its customer, a surgical robotics company, received FDA 510(k) clearance for its AI-powered platform treating Benign Prostate Hyperplasia. POC designs and manufactures the single-use endoscope imaging assembly for this system. The company has begun production deliveries against a $9 million order, with estimated deliveries of $3.6 million during fiscal year ending June 2025. POC expects significant long-term growth as their customer deploys the new robotic system in the market where they already hold a dominant position.
Precision Optics (Nasdaq: POCI), a leading designer and manufacturer of advanced optical instruments for the medical and defense/aerospace industries, has announced its participation in the Lytham Partners Fall 2024 Investor Conference on October 1, 2024. The company will engage in two key activities:
1. A webcast presentation scheduled for 1:15 pm ET, accessible via the conference homepage or a direct link.
2. Virtual one-on-one meetings with investors throughout the event.
Interested parties can access the webcast through the provided links, with a replay option available post-event. To arrange one-on-one meetings, investors can contact Lytham Partners directly or register for the event through the given link.
Precision Optics (NASDAQ: POCI) reported its Q4 and fiscal year 2024 results. FY 2024 revenue was $19.1 million, down from $21.0 million in FY 2023, but exceeding the high-end guidance. Production revenue decreased 25% to $10.8 million, while engineering revenue increased 24% to a record $8.3 million. The company reported a net loss of $3.0 million compared to a $0.1 million loss in the previous year.
For Q4 FY2024, revenue was $4.7 million, down from $5.0 million in Q4 FY2023. The company received a $9 million production order for a high-volume single-use cystoscopy surgery program in May 2024. Despite facing the loss of several significant programs, Precision Optics backfilled a portion of the shortfall with record product development revenue. The company expects double-digit revenue growth for fiscal 2025, with significant increases beginning in Q2 FY2025.
Precision Optics (Nasdaq: POCI), a leading designer and manufacturer of advanced optical instruments for the medical and defense/aerospace industries, has announced a conference call to discuss its fourth quarter and fiscal year 2024 financial results. The call is scheduled for Monday, September 30, 2024, at 5:00pm ET.
The company plans to release its financial results and file its 10-K after the market closes on the same day. Interested parties can join the call by dialing (844) 735-3662 or (412) 317-5705. A live webcast will also be available at https://app.webinar.net/0Aa98ozwG53. A teleconference replay will be accessible until October 7, 2024, and a webcast replay will be available at the same link.
Precision Optics (NASDAQ: POCI) has announced a $1.4 million registered direct offering of common stock. The company will sell 265,868 shares at $5.25 per share to institutional and accredited investors, and $5.79 per share to directors and officers. The offering is expected to close on August 15, 2024, subject to customary conditions. A.G.P./Alliance Global Partners is acting as the sole placement agent. The offering is made pursuant to an effective shelf registration statement on Form S-3. Proceeds will be used for general corporate purposes, potentially including working capital, capital expenditures, and business development activities.
Precision Optics (NASDAQ: POCI) appointed Clay Schwabe as VP of Sales and Marketing. Schwabe brings over 15 years of experience in medical device sales, marketing, and commercialization. His background includes roles at Veranex, PRIA Healthcare, Vertiflex, and Medtronic. He is a US Military Academy graduate and served as a US Army Captain. The current SVP, Jeff DiRubio, will transition to a consulting role. Under DiRubio’s tenure, sales increased by over 700%. CEO Dr. Joe Forkey highlighted Schwabe’s innovative approach and experience in high-growth environments as key assets for the company’s future.
Precision Optics (NASDAQ: POCI) has announced its participation in the Lytham Partners Spring 2024 Investor Conference, scheduled for May 30, 2024. Dr. Joe Forkey, CEO, will present a webcast and host one-on-one meetings with investors. The webcast starts at 1:15pm ET and can be accessed on the conference home page or directly through a provided link. The presentation will be available for replay. Investors can arrange one-on-one meetings by contacting Lytham Partners or registering for the event online.
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.
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.