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 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.