Optex Systems Holdings, INC - OPXS STOCK NEWS

Optex Systems Holdings (OTCQB:OPXS) announced the appointment of Dayton Judd to its Board of Directors, enhancing its leadership team. Judd brings diverse industry experience, previously serving as CEO of FitLife Brands and holding positions at Q Investments and McKinsey. Chairman and CEO Danny Schoening expressed confidence that Judd's expertise will support Optex's growth trajectory. Founded in 1987, Optex specializes in optical sighting systems for military applications, supplying products to the U.S. Department of Defense.

Optex Systems Holdings (OTCQB:OPXS) announces a $720,000 order from a major US Prime Contractor for the US Army's Mobile Protected Firepower (MPF) tank program. This order will help broaden Optex's product portfolio with Laser Protected Periscopes and Muzzle Reference Sensors, predominantly produced at their Richardson facility. The company's current backlog exceeds $36.6 million, indicating solid demand for its optical sighting systems.

Optex Systems Holdings announces a $1.75 million order to support the M1 Abrams Tank Program, reinforcing its ongoing partnership since the 1980s. This contract highlights Optex's role as a primary supplier of vital optical components for military vehicles. The company's backlog now exceeds $32.7 million, indicating strong demand for its products. Bill Bates, GM of the Applied Optics Center, expressed optimism about future requirements for these optics, essential for U.S. Armed Forces. Optex continues to manufacture vital components for military applications.

Optex Systems Holdings (OTCQB:OPXS) announced the final results of its modified Dutch auction tender offer, which purchased approximately $4.25 million worth of its common stock. A total of 1,727,926 shares were tendered, with Optex accepting 1,603,774 shares at $2.65 each, representing 19.3% of outstanding shares. Due to oversubscription, a pro-rated portion of shares was accepted, with a pro-ration factor of approximately 92.8%. Following the settlement, approximately 6,716,637 shares will be outstanding. Payment will be processed promptly according to legal requirements.

Optex Systems Holdings (OTCQB:OPXS) announced the preliminary results of its tender offer to buy back up to $4.25 million in shares at $2.65 each, which ended on September 15, 2022. A total of 1,728,026 shares were tendered, and the company plans to purchase approximately 1,603,774 shares, representing about 19.3% of its outstanding shares. Due to oversubscription, a pro-ration factor of 92.8% is expected for tendering shareholders. The final numbers will be confirmed after the settlement period.

Optex Systems Holdings (OTCQB:OPXS) announced a $1.1 million order under a multi-year supplier agreement with a premium optical device manufacturer. This order contributes to a growing backlog now exceeding $31.1 million. Since 2015, total orders related to these products have surpassed $30.3 million. GM Bill Bates emphasized the continual growth of bookings at the Applied Optics Center, indicating strong customer relationships and operational confidence as they move into fiscal 2023.

Optex Systems Holdings (OTCQB:OPXS) has secured a $2.23 million order under a multi-year agreement with a domestic manufacturer of premium optical devices. This order contributes to the total backlog, which now exceeds $29.9 million. Since 2015, total orders for optical sub-assemblies have surpassed $28.9 million. The Applied Optics Center in Richardson, Texas is responsible for manufacturing. The press release emphasizes the company's commitment to quality and the importance of maintaining skilled employees in sustaining long-term partnerships.

Optex Systems Holdings, Inc. (OTCQB:OPXS) has initiated a modified Dutch auction tender offer to buy back up to $4.25 million worth of its common stock, with a purchase price range set between $2.35 and $2.75 per share. The offer, which is not conditioned on a minimum number of shares being tendered, will expire on September 15, 2022. As of August 17, 2022, the stock's closing price was $2.00.

Stockholders are advised to carefully consider the conditions of the offer and consult with financial advisors.

Optex Systems Holdings, Inc. (OTCQB:OPXS) reported strong financial performance for the three and nine months ended July 3, 2022. Total revenues increased by 39.2% and 19.0%, reaching $6.17 million and $15.65 million, respectively. A substantial backlog rise and operating profit improved significantly by 794.7%. The company anticipates a revenue increase of 21-23% for the year ending October 2, 2022. Despite facing inflation and supply chain issues, cash reserves grew to $5.2 million. However, net income applicable to shareholders decreased by 53% for the quarter.