Welcome to our dedicated page for Optex Systems news (Ticker: OPXS), a resource for investors and traders seeking the latest updates and insights on Optex Systems stock.
Optex Systems Holdings Inc. (OPXS) delivers precision optical solutions for critical defense applications, serving the U.S. military and prime contractors through advanced manufacturing and engineering. This dedicated news hub provides investors and industry professionals with essential updates on company developments, financial milestones, and defense sector innovations.
Access authoritative information about OPXS's government contracts, product advancements in optical sighting systems, and strategic initiatives. Our curated collection includes earnings announcements, major contract awards for vehicle platforms like Abrams and Stryker, and technological breakthroughs in night vision and laser-protected assemblies.
Key updates cover manufacturing quality certifications, backlog status for defense programs, and operational developments from the Richardson production facility. Stay informed about OPXS's role in enhancing military vehicle safety through cutting-edge periscope systems and surveillance technologies.
Bookmark this page for streamlined access to verified Optex Systems announcements. Check regularly for updates on defense industry partnerships, optical engineering advancements, and financial performance metrics essential for informed analysis.
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.
Optex Systems Holdings reported a steep revenue decrease of $2.7 million (38.9%) and $4.1 million (32.1%) for the three and six-month periods ended March 28, 2021, respectively. The gross margin also declined significantly by $1.2 million (76.7%) and $1.9 million (60.7%). Operating income shifted to a loss of $0.4 million for the quarter and $0.3 million for six months. The company attributes these declines to reduced production volume and fixed manufacturing costs. Despite challenges, CEO Danny Schoening expressed optimism for improved margins as revenues rise following cost-reduction measures.
Optex Systems Holdings reported a 24.1% revenue decline to $4.5 million for Q1 2021, reflecting lower customer order backlog. Gross margin also decreased by 43.1% to $835,000.
Despite a $1.1 million net income, operating income fell 89% to $79,000 due to reduced production and unfavorable overhead costs. The backlog decreased by 8% to $15 million, while cash reserves remain stable at $4.6 million. The company anticipates a 25-30% revenue drop in H1 2021, influenced by the ongoing impacts of COVID-19 on government procurement.
Optex Systems Holdings (OTCQB:OPXS) has announced the launch of mil-spec quality High Efficiency Anti-Reflective Coatings for Infrared applications, enhancing its offerings for military and commercial sectors. Manufactured at its Applied Optics Center in Dallas, Texas, these coatings will serve U.S. government and prime contractors, building on a legacy of critical optical components for major military platforms. The company plans to expand its product range in the infrared market through ongoing investments in engineering and equipment.
