Optex Systems - OPXS STOCK NEWS

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.

Optex Systems Holdings, Inc. (OPXS) receives an initial purchase order for Laser Filter Assemblies supporting the U.S. Military IVAS Program. The company's GM, Bill Bates, expressed excitement about the development and commitment to customer satisfaction. The AOC team aims to deliver fully functional assemblies this quarter and collaborate on future upgrades.

Optex Systems Holdings, Inc. (OPXS) reports strong financial results for the three months ended December 31, 2023, with significant revenue and gross profit increases. The company's operating income improved, and it maintained a healthy working capital. Despite a decrease in new orders, the backlog increased, indicating future growth potential. The acquisition of intellectual property and agreements with RUB Aluminium s.r.o. further enhance the company's capabilities.

Optex Systems Holdings, Inc. (Nasdaq:OPXS) has been awarded a new five year Indefinite Delivery Indefinite Quantity (IDIQ) contract from the United States Defense Logistics Agency Land and Maritime for Sighting Systems, with a maximum value of $2.8 Million. The Laser Protected Periscopes and Vision Blocks are critical in mission capability for armored vehicles fielded by the U.S. Military. CEO Danny Schoening stated that Optex continues to be the supplier of choice in supporting the overall supply chain for domestic armored vehicle manufacturing, with the current Optex backlog in excess of $45 million.

Optex Systems Holdings, Inc. (Nasdaq:OPXS) has acquired Speedtracker from RUB Aluminum and established a Contract Manufacturing Agreement for the continued production of the Speedtracker Mach 4+ product line. The cutting-edge chronograph designed to measure projectile velocity aligns with market demands and has the potential for global growth. The company used cash on hand for the acquisition and plans to enhance the distribution and growth of the Speedtracker line.

Optex Systems Holdings, Inc. (Nasdaq:OPXS) announced financial results for the twelve months ended October 1, 2023, showing a 14.6% increase in total revenues, a 17.8% increase in gross profit, and a 69.2% increase in operating income. The company saw an increase in orders, backlog, and net income, with a 23.6% increase in new orders and a 27.1% increase in backlog. Optex also reported a $3.3 million increase in revenue, a $1.7 million increase in operating income, and a $1.0 million increase in net income compared to the prior year period. The company had working capital of $13.5 million and a credit facility of $3.0 million, with a $1.2 million cash balance and an outstanding payable balance of $1.0 million. The company's Adjusted EBITDA increased by 59.7% to $3.4 million, and Optex anticipates an overall increase in fiscal year 2024 revenue and operating cash flow compared to 2023 levels.

Optex Systems Holdings, Inc. (NASDAQ:OPXS) has been awarded a new $2.9 million contract from a U.S. Government Prime Contractor for Sighting Systems, crucial for protecting armored vehicles fielded by the U.S. Military. CEO Danny Schoening highlighted the company's continued support for the domestic armored vehicle manufacturing supply chain. This order contributes to Optex's backlog, which now exceeds $45.6 million.