Optex Systems Holdings, INC - OPXS STOCK NEWS

Optex Systems Holdings (OTCQB:OPXS) announced a $2.1 million order under a strategic supplier agreement with a domestic manufacturer for precision optical sighting systems. The products will be produced at their Applied Optics Center in 2022. This order reflects a strong ongoing relationship with the customer and brings the total orders since 2015 to $25.5 million. Optex's current backlog now surpasses $26.6 million.

Optex Systems Holdings, Inc. (OTCQB:OPXS) reported a 2.9% decline in revenue for Q1 2022, totaling $4.34 million, compared to $4.47 million in the same period last year. Operating income fell to $15,000, an 81% decrease from $79,000. Despite these setbacks, the backlog increased by 76.7% year-over-year to $26.5 million, reflecting strong demand for new military and commercial optical systems. The cash balance rose to $5.3 million, and management anticipates a recovery in demand, especially within the Applied Optics Center segment.

Optex Systems Holdings, Inc. (OTCQB:OPXS) was recognized with the BAE Systems Partner2Win Quality Supplier of the Year Award and Gold Medalist status for outstanding performance in 2021. This award highlights Optex's contributions to BAE Systems' Combat Mission Systems supply chain. The Partner2Win program aims to enhance operational excellence and reduce defects across suppliers, indicating Optex's role in maintaining high-quality standards. The achievement underscores the company's resilience during the COVID-19 pandemic, focusing on its critical defense applications.

Optex Systems Holdings (OTCQB:OPXS) reported financial results for the year ended October 3, 2021, with revenue declining by 29.6% to $18.2 million from the previous year. Gross margin also decreased by 58.6% to $2.5 million, leading to an operating loss of $0.5 million compared to a profit of $3.9 million a year prior. Despite challenges from the pandemic, backlog grew by 67.5% to $27.3 million, and new orders increased by 65.9% to $29.2 million. The company maintained a solid cash balance of $3.9 million as of October 3, 2021.

Optex Systems Holdings (OTCQB:OPXS) announced a significant $1.4 million order under a 5-Year Indefinite Delivery Indefinite Quantity contract for laser-protected periscopes from a U.S. Prime Customer. Deliveries are set to commence in 2022 and conclude in 2023. This order contributes to a current backlog of over $28 million, reinforcing Optex's position as a preferred supplier for the Department of Defense. CEO Danny Schoening highlighted ongoing support for both new production and spare parts for military units.

Optex Systems Holdings (OTCQB:OPXS) has initiated a $1.0 million stock repurchase program, effective immediately, following the successful completion of a prior buyback in April 2021. CFO Karen Hawkins emphasized that this move reflects the company's strong working capital position, enhancing shareholder value and market liquidity. Purchases will occur at prevailing market prices, with no guaranteed number of shares to be repurchased. The program underscores Optex's commitment to returning capital to investors.

Optex Systems Holdings has secured a $3.0 million order as part of a strategic supplier agreement with a domestic manufacturer of premium optical devices. This order, expected to be fulfilled over the next 12 months, raises total bookings from the agreement to over $23.3 million since 2015. The company now has a backlog exceeding $27 million. Optex, based in Richardson, Texas, specializes in precision optical sighting systems for military and commercial applications, with products utilized in various U.S. military vehicles.

Optex Systems Holdings (OTCQB:OPXS) announced financial results for the three and nine months ended June 27, 2021. Revenue fell by $1.4 million (24.2%) for the quarter and $5.5 million (29.6%) year-to-date. Gross margin also decreased significantly, leading to a net operating loss of $0.3 million for the nine-month period. Despite implementing cost-saving measures, a 30-32% reduction in expected annual performance is anticipated due to decreased orders attributed to COVID-19 impacts. The company reported a backlog of $12.9 million, down from $16.3 million.

Optex Systems Holdings (OTCQB:OPXS) has secured an $8.4 million purchase order for laser filters, awarded as part of a 24-month contract. This order is expected to enhance the company's backlog, which now exceeds $23 million. Bill Bates, GM of the Applied Optics Center, emphasized the importance of developing next-generation laser filters to protect military personnel and equipment. Founded in 1987, Optex specializes in precision optical systems for military and commercial applications, contributing to various U.S. military vehicles.