Optex Systems Announces $2.5 Million Order for Laser Filter Units
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.
- Secured a $2.5 million contract for Laser Filter Units.
- Deliveries scheduled from August 2024 to July 2025.
- Current order backlog exceeds $47 million.
- None.
Insights
Optex Systems' new $2.5 million order for Laser Filter Units undoubtedly reinforces its ongoing role in military applications, particularly with the XM-157 NGWS Scope. This contract signifies a continuation of a previously established relationship, ensuring steady revenue inflow.
However, investors should consider the scale of this order within the broader financial context. The $2.5 million, despite boosting the company’s backlog to over
Furthermore, delivery timelines stretching from August 2024 to July 2025 may spread the revenue recognition over multiple quarters, potentially resulting in
The awarding of a $2.5 million contract for Laser Filter Units reflects Optex Systems' solid positioning in the high-tech defense market. This contract highlights the company's commitment to advanced technology, specifically in military optics, a niche but critical segment.
While the contract itself is modest in size, it supports the broader theme of increased defense spending and military modernization. Market dynamics suggest a growing demand for such sophisticated equipment, driven by geopolitical tensions and technological advancements. For Optex, securing such contracts may enhance its credibility and lead to more substantial contracts in the future.
Investors should monitor the defense sector's trends, especially government budget allocations toward military technology and infrastructure, as these factors can indirectly influence Optex's business prospects and stock performance.
RICHARDSON, TX / ACCESSWIRE / July 8, 2024 / Optex Systems Holdings, Inc. (Nasdaq:OPXS), a leading manufacturer of precision optical sighting systems for domestic and worldwide military and commercial applications, announced today it has been awarded a new contract for Laser Filter Units supporting the XM-157 NGWS Scope. The order value is
"The AOC team is pleased to continue our support of laser protection devices supporting such important and cutting-edge scopes like the XM-157. We take our role of protecting the eyesight of all U.S. military users very seriously and work every day to ensure that no potential damage can occur when our products are in use" stated Bill Bates, General Manager of Applied Optics Center. With this new order, the current Optex backlog is in excess of
ABOUT OPTEX SYSTEMS
Optex, which was founded in 1987, is a Richardson, Texas based ISO 9001:2015 certified concern, which manufactures optical sighting systems and assemblies, primarily for Department of Defense (DOD) applications. Its products are installed on various types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Armored Security Vehicles, and have been selected for installation on the Stryker family of vehicles. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights, and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors. For additional information, please visit the Company's website at www.optexsys.com.
Safe Harbor Statement
This press release contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including those relating to the products and services described herein. You can identify these statements by the use of the words "may," "will," "could," "should," "would," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," "likely," "forecast," "probable," and similar expressions.
These forward-looking statements represent our expectations, beliefs, intentions or strategies concerning future events, including, but not limited to, any statements regarding growth strategy; product and development programs; financial performance and financial condition (including revenue, net income, profit margins and working capital); orders and backlog; the estimated value of IDIQ contracts; expected timing of contract deliveries to customers and corresponding revenue recognition; increases in the cost of materials and labor; costs remaining to fulfill contracts; contract loss reserves; labor shortages; follow-on orders; supply chain challenges; the continuation of historical trends; the sufficiency of our cash balances for future liquidity and capital resource needs; the expected impact of changes in accounting policies on our results of operations, financial condition or cash flows; anticipated problems and our plans for future operations; and the economy in general or the future of the defense industry.
These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. Such risks and uncertainties include, but are not limited to, continued funding of defense programs and military spending, the timing of such funding, general economic and business conditions, including unforeseen weakness in the Company's markets, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, changes in the U.S. Government's interpretation of federal procurement rules and regulations, changes in spending due to policy changes in any new federal presidential administration, market acceptance of the Company's products, shortages in components, production delays due to performance quality issues with outsourced components, inability to fully realize the expected benefits from acquisitions and restructurings or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, changes to export regulations, increases in tax rates, changes to generally accepted accounting principles, difficulties in retaining key employees and customers, unanticipated costs under fixed-price service and system integration engagements, changes in the market for microcap stocks regardless of growth and value and various other factors beyond our control.
You must carefully consider any such statement and should understand that many factors could cause actual results to differ from the Company's forward-looking statements. These factors include inaccurate assumptions and a broad variety of other risks and uncertainties, including some that are known and some that are not. No forward-looking statement can be guaranteed and actual future results may vary materially. The Company does not assume the obligation to update any forward-looking statement. You should carefully evaluate such statements in light of factors described in the Company's filings with the SEC, especially on Forms 10-K, 10-Q and 8-K. In various filings the Company has identified important factors that could cause actual results to differ from expected or historic results. You should understand that it is not possible to predict or identify all such factors. Consequently, you should not consider any such list to be a complete list of all potential risks or uncertainties.
Contact:
IR@optexsys.com
(972) 764-5718
SOURCE: Optex Systems Holdings, Inc.
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FAQ
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