Optex Systems Holdings, INC - OPXS STOCK NEWS

Optex Systems Holdings (Nasdaq: OPXS) has secured a three-year Indefinite Delivery Indefinite Quantity (IDIQ) contract from DLA Land and Marine for Optically Improved Periscopes, valued at up to $6.5 million with two additional option years. The contract involves the supply of laser-protected periscopes for domestic armored vehicle manufacturers, providing real-time situational awareness while protecting against harmful laser strikes. The company's current backlog now exceeds $42 million.

Optex Systems Holdings (Nasdaq:OPXS) has secured a new $2.0 million contract for Laser Filter Units and Window Assemblies for Night Vision devices used by the U.S. Armed Forces. The deliveries are scheduled from March 2025 through February 2026. The company's Applied Optics Center (AOC) has enhanced its infrastructure to meet growing demand for specialized laser filters and coated optics. Following this new order, Optex's current backlog exceeds $42 million.

FRMO Corp has expanded its Board of Directors to nine members with the appointment of R. Rimmy Malhotra. The board now consists of nine directors, including five independent members. Malhotra, who serves as Managing Member and Portfolio Manager for Nicoya Fund LP, brings extensive experience in investment management. He previously managed the Gratio Values Fund and currently serves on the boards of HireQuest Inc and Optex System. The appointment comes as FRMO focuses on expanding and integrating several strategic investments approaching critical mass.

Optex Systems Holdings, Inc. (Nasdaq:OPXS), a leading manufacturer of precision optical sighting systems, has announced $2.1 million in new contracts from two domestic customers for laser protected periscopes. These periscopes will support ongoing armored vehicle production, providing real-time situational awareness while protecting against harmful laser strikes.

The deliveries are expected to occur over the next 18 months. CEO Danny Schoening emphasized Optex's continued support for domestic armored vehicle manufacturers. With this new order, Optex's current backlog now exceeds $45 million.

Optex Systems Holdings, Inc. (Nasdaq:OPXS) reported strong financial results for Q3 2024. Revenue increased by 26.3% to $9.06 million for the quarter and 39.6% to $24.55 million for the nine months ended June 30, 2024. Gross profit surged 68.3% to $2.88 million for Q3 and 78.8% to $7.12 million for the nine-month period. The company's backlog grew 9.1% to $45.6 million compared to October 1, 2023. Net income more than doubled to $1.26 million for Q3 and tripled to $2.75 million for the nine-month period. The improved performance was attributed to increased deliveries, easing supply chain constraints, and improved operational efficiency.

Optex Systems, a key manufacturer of optical sighting systems, has secured a $2.5 million contract for Laser Filter Units for the XM-157 NGWS Scope.

This contract will span from August 2024 to July 2025. According to Bill Bates, General Manager of Applied Optics Center, the company remains dedicated to safeguarding the eyesight of U.S. military users through advanced laser protection devices.

With this new contract, Optex's backlog now exceeds $47 million, indicating strong future revenue prospects.

Optex Systems Holdings (NASDAQ:OPXS) announced its financial results for the three and six months ending March 31, 2024. The company reported a 33.8% revenue increase to $8.5 million for the quarter and a 48.8% increase to $15.5 million for the six-month period, driven by higher deliveries in both the Richardson and Applied Optics Center segments.

Gross profit surged by 64.6% to $2.6 million for the quarter and by 86.9% to $4.2 million for the six-month period. Operating income rose by $0.7 million to $1.4 million for the quarter and by $1.6 million to $1.9 million for the six months. The company had a net income of $1.1 million for the quarter and $1.5 million for the six-month period.

As of March 31, 2024, Optex reported $13.6 million in working capital, $0.3 million in cash, and an outstanding payable balance of $0.5 million against its line of credit. New orders decreased by 6.3% to $17.9 million, while the backlog increased to $44.2 million.

Optex Systems Holdings, a manufacturer of optical sighting systems, secured a $3.8 million contract from a U.S. Government Prime Contractor for laser protected periscopes. The contract supports the Armored Multi-Purpose Vehicle (AMPV) with deliveries over the next 14 months. Optex is the exclusive supplier for laser protected periscopes for armored vehicles produced for the U.S. Government. The AMPV project is important for the U.S. Army's Armored Brigade Combat Team (ABCT) strategy. With this contract, Optex's backlog exceeds $47 million.

Optex Systems Holdings, Inc. (NASDAQ:OPXS) has secured a $1.5 million contract from a U.S. Government Prime Contractor to support a Night Vision Goggle system, with deliveries scheduled throughout fiscal 2025. The company's Applied Optics Center, a primary supplier for laser interference filters and protective window assemblies, is set to benefit from this award, adding to their existing backlog of over $43.5 million.