OPTEC International Publishes Dec 31st, 2020 Quarterly Financial Report Exceeding Expectations Showing Revenue Increase of 1000% From Previous Quarter

Rhea-AI Summary

OPTEC International, Inc. (OTC PINK:OPTI) released its December 31, 2020 Quarterly Financial Report, showcasing a remarkable over 1000% increase in revenue compared to the previous quarter, exceeding $11M. The company generated a net income of approximately $7.38M, boosting shareholder equity to $17M. CEO Roger Pawson announced the acquisition of an additional 17,298 sq. ft. facility to support growth. Furthermore, OPTEC plans to use profits from a $2B+ PPE contract for a stock buyback and aims for a NASDAQ uplisting.

Positive

• Revenue increased by over 1000% to exceed $11M.
• Net income approximately $7.38M increased shareholder equity to $17M.
• Acquisition of 17,298 sq. ft. warehouse to support growth.
• Plans for $2B+ PPE contract profits to initiate stock buyback.
• Aiming for NASDAQ uplisting.

Negative

• None.

CARLSBAD, CA / ACCESSWIRE / February 17, 2021 / OPTEC International, Inc. (OTC PINK:OPTI), a developer of UV and UV-C safety products using related advanced technologies specific to Personal Protection Equipment (PPE), today announced the company's December 31^st, 2020 Quarterly Financial Report with over 1000% increase in revenue from the previous quarter. This was achieved by strong and larger transaction volumes during the significant reported increase in Pandemic cases globally.

The significant increase in revenues exceeded $11M for this period and generated a net income of approximately $7.38M increasing shareholder equity to $17M.

Company CEO Roger Pawson commented "As a result of the growth the company has acquired an additional 17,298 sq. feet warehouse and distribution center within close proximity to the company's existing two facilities. OPTEC takes possession of the new facility March 1^st, 2021".

Mr. Pawson further stated, "Upon full completion of the company's $2B+ PPE and Medical supply contract , the company intends to use the profits to launch a stock buyback program and continue the goal of up listing to the NASDAQ Exchange".

Dec 31^st 2020, Financial Report Link: https://backend.otcmarkets.com/otcapi/company/financial-report/271185/content

Recent Company Announcement:

OPTEC announced the addition of Antigen & Antibody Rapid-Test Kits with 10 Minute Results to the company's PPE Inventory for global distribution. The Rapid-Test Kits are manufactured in the USA and comply with the specific requirements for Rapid-Testing within the current FDA and CDC guidelines.

OPTEC Acquires Z2O the "Uber of Cleaning & Sterilization APP". www.Z2O.com

OPTEC Appointments Kyle McGowan Former CDC Chief of Staff and Amanda Campbell Former Deputy CDC Chief of Staff to the company's Advisory Board.

About OPTEC International, Inc. With Locations in Carlsbad and Vista, California, OPTEC International is a developer and manufacturer of electronic LED, Ultraviolet (UV) & UV-C safety products and related advanced technologies and PPE (Personal Protection Equipment) products. The company's Safe-Scan product line is being launched at a time when HR directors and facilities managers are experiencing extreme concern with respect to keeping environments safe during the global pandemic crisis and the safe reopening of the U.S. economy. For more information, visit: www.optecintl.com

OPTEC International, Inc. investor relations at: www.optecintl.com/investor

Safe Harbor Statement: Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Opti, OPTEC or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. OPTEC International Inc.

OPTEC International, Inc.

Investor Relations Contact:
Andrew Barwicki
516-662-9461 / Andrew@barwicki.com

SOURCE: Optec International, Inc.

View source version on accesswire.com:
https://www.accesswire.com/630308/OPTEC-International-Publishes-Dec-31st-2020-Quarterly-Financial-Report-Exceeding-Expectations-Showing-Revenue-Increase-of-1000-From-Previous-Quarter

FAQ

What were OPTEC's revenue figures for Q4 2020?

OPTEC reported revenue exceeding $11M for Q4 2020.

How much did OPTEC's net income increase in the latest report?

The net income for OPTEC was approximately $7.38M.

What is OPTEC's plan regarding the $2B+ PPE contract?

OPTEC intends to use profits from the contract for a stock buyback and aims to uplist to NASDAQ.

When will OPTEC take possession of the new facility?

OPTEC will take possession of the new facility on March 1, 2021.