Optex Systems Holdings, INC - OPXS STOCK NEWS

Optex Systems Holdings announced the uplisting of its stock to the Nasdaq Capital Market, effective March 15, 2023. This approval allows the company's shares, ticker symbol OPXS, to move from OTCQB to Nasdaq without implementing a reverse split, a measure approved earlier by shareholders. CEO Danny Schoening expressed optimism about increased visibility and liquidity as a result of this change. Founded in 1987, Optex manufactures optical systems for the Department of Defense, serving U.S. military applications.

Optex Systems Holdings, Inc. (OTCQB:OPXS) reported a revenue decline of 6.9% for the three months ended January 1, 2023, totaling $4.04 million compared to $4.34 million in the same period last year. The gross profit also decreased by 12.9%, attributed to material shortages and labor issues. Operating income fell to a loss of $282,000, down from a profit of $15,000 previously. However, the company recorded new orders of $11.2 million, up 220% year-over-year, leading to a backlog increase of 51.3% to $40.1 million. The CEO anticipates improved sales performance in Q2-Q4 2023 despite ongoing supply chain challenges.

Optex Systems Holdings, Inc. (OTCQB:OPXS) reported a strong financial performance for the year ending October 2, 2022, with revenues rising by 22.8% to $22.4 million. The Applied Optics Center segment drove this growth, leading to a 94.3% increase in gross margin to $4.9 million. Operating income improved to $1.6 million, reversing last year's loss. However, supply chain challenges are anticipated to impact first-quarter 2023 revenues, projected to be 8-9% lower than the previous year. The company remains optimistic about continued growth in 2023.

Optex Systems Holdings (OTCQB:OPXS) received the BAE Systems Partner2Win Gold Supplier of the Year Award on November 1, 2022. This award recognizes Optex's exceptional performance and contributions to the supply chain for BAE's combat and amphibious vehicle programs. BAE Systems' Partner2Win program aims to promote operational excellence among suppliers, enhancing quality standards. Optex manufactures precision optical sighting systems primarily for military applications, contributing to various U.S. military vehicles and systems.

Optex Systems Holdings (OTCQB:OPXS) has received a 5-year IDIQ contract valued at $7.5 million for spare Light Interference Filters for Night Vision Goggles.

The average annual revenue is projected to be between $1 million and $1.5 million. The contract confirms the company’s strong performance on a prior contract. The backlog now exceeds $40.2 million. With its ISO certification, Optex specializes in optical systems primarily for military applications. This contract underscores Optex's reliability and growth potential in defense contracts.