Welcome to our dedicated page for Precision Optics news (Ticker: POCI), a resource for investors and traders seeking the latest updates and insights on Precision Optics stock.
Precision Optics Corporation, Inc. (NASDAQ: POCI) is a vertically integrated optics company focused on advanced optical instruments for healthcare and defense/aerospace markets. This news page aggregates company announcements, press releases and other updates related to POCI’s operations, projects and financial performance.
Readers can follow news about Precision Optics’ work in micro-optics, 3D imaging and digital imaging technologies, including developments in minimally invasive surgery imaging, 3D endoscopy and optical systems that support surgical robotic platforms. Updates often highlight new engineering and production programs, such as complex endocouplers, specialized endoscopes and single-use endoscope assemblies for leading medical device companies.
In defense and aerospace, company news covers product development orders and collaborations involving compact, high-performance optical systems. Recent releases describe sub-assemblies for advanced augmented reality systems for fighter pilot training and high-end, small-diameter borescopes for jet engine inspection in extreme environmental conditions. These items illustrate how Precision Optics applies its micro-optics and imaging capabilities to demanding military and aerospace applications.
Investors and analysts can also review announcements of quarterly and annual financial results, including details on engineering versus production revenue, gross margins, net income (loss) and the company’s use of non-GAAP measures such as Adjusted EBITDA. Conference call schedules, investor conference participation and facility expansion plans, including moves to support a growing production backlog and broader engineering talent pool, are also covered.
For anyone tracking POCI stock or the company’s role in medical and defense/aerospace optics, this page provides a centralized view of official news, helping users understand how new contracts, development agreements and operational updates relate to the company’s long-term strategy.
Precision Optics Corporation (NASDAQ: POCI) has named Mahesh Lawande as its new Chief Operating Officer, effective April 24, 2023. This leadership change arises from the company's significant growth, with revenues increasing by 47% in fiscal 2022 and 76% in the first half of fiscal 2023, largely due to acquisitions. Lawande brings over 25 years of experience in medical device and aerospace/defense manufacturing, having held key roles at Siemens and Draeger. His appointment aims to enhance the company's operational capabilities to manage increasing complexity and drive continued growth and profitability. This strategic move signifies Precision Optics' commitment to scaling its operations amidst rapid expansion.
Precision Optics Corporation (NASDAQ: POCI) reported a significant 51% increase in revenue for Q2 fiscal 2023, reaching $5.89 million, compared to $3.90 million in the same quarter last year. A one-time sale contributed $600,000 to this figure. The gross margin improved to 46% from 29% year-over-year. The company achieved a net income of $634,420, a turnaround from a net loss of $(507,013) last year. Adjusted EBITDA was $993,449, up from $(72,456), indicating improved profitability. Key orders received included $750,000 from a medical device company and $2.6 million from a defense contractor.
Precision Optics Corporation (NASDAQ: POCI) announced a production and technology license agreement with a major global medical device company on Feb. 13, 2023. This agreement grants the customer exclusive rights to certain POCI intellectual property in the ophthalmic industry, following four years of collaborative product development. POCI received a one-time payment of $600,000 for these rights. Initial production is set for late-2023, with potential royalties for POCI if production is transferred elsewhere. CEO Joe Forkey highlighted that this collaboration is expected to enhance profitability through royalties from single-use medical devices.
Precision Optics Corporation (Nasdaq: POCI) announced a conference call scheduled for February 14, 2023, at 5:00 PM ET to discuss its financial results for the first quarter of fiscal year 2023. 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 by dialing (844) 735-3662 or through a live webcast at here. A replay of the call will be available until February 21, 2023. Founded in 1982, Precision Optics specializes in advanced optical instruments for medical and defense sectors, leveraging proprietary technologies.
Precision Optics Corporation (NASDAQ: POCI) announced that CEO Dr. Joe Forkey will present at the Lytham Partners Investor Select Conference on January 31, 2023. The event will take place virtually, allowing for one-on-one meetings with investors. Attendees can view the company's webcast presentation at 9:00 AM ET on the same day via the company's website or through the provided webcast link. Precision Optics specializes in designing and manufacturing advanced optical instruments for the medical and defense industries and has significant expertise in micro-optics and 3D imaging technologies.
Precision Optics Corporation (NASDAQ: POCI) announced a follow-on production order worth approximately $2.3 million from a major medical device company for an otoscopy application, expected to be delivered within 12 to 24 months, starting early 2023. This order comes after production was halted for over 24 months due to the pandemic. The company's CEO, Dr. Joe Forkey, expressed optimism about the ongoing production orders and growth anticipated for this fiscal year. Precision Optics specializes in advanced optical instruments for healthcare and defense sectors, utilizing proprietary technologies in their offerings.
Precision Optics Corporation (NASDAQ:POCI) announced a follow-on production order worth $2.6 million from a major US defense contractor. This new order reflects a three-fold increase from previous orders and is expected to be fulfilled over the next 12 to 18 months. The demand for this complex optical assembly has been strong since 2018, encouraging future renewals of production orders. CEO Dr. Joe Forkey emphasized that this growth supports anticipated revenue increases for the fiscal year and beyond, underlining the company's solid relationship with its defense contractor client.
Precision Optics Corporation (Nasdaq: POCI) announced that CEO Joe Forkey and team will ring the Nasdaq opening bell on December 14, 2022. This event celebrates the company’s recent uplisting and a year marked by record revenues driven by a growing production portfolio and a robust product development pipeline. Forkey emphasized that the event is a tribute to the hard work of employees who contribute to advancing optical innovation in medical and defense sectors.
Precision Optics Corporation (NASDAQ: POCI) has announced a $750,000 product development order for a next-generation single-use urology program from an established medical device company. This program is the second single-use project moving past the proof-of-concept phase and leverages the combined expertise of Precision Optics and Lighthouse Imaging. The development effort will span one to two years, with anticipated production orders following successful validation. The CEO emphasized the industry’s recognition of their capabilities in micro-optics and the importance of single-use products for future growth.