PEYE - PEYE STOCK NEWS

Precision Optics Corporation (OTCQB: PEYE) announced a delay in the effective date of its reverse stock split due to unforeseen regulatory clearance issues. Initially set for October 26, 2022, the reverse split's timing will be revised, with a new announcement expected soon. This reverse split is part of the Company’s efforts to list its common stock on The Nasdaq Stock Market. Precision Optics focuses on advanced optical solutions for healthcare and defense/aerospace, providing services from design to mass manufacturing of next-generation products.

Precision Optics Corporation (OTCQB: PEYE) announced a 1-for-3 reverse stock split effective after the close of business on October 26, 2022. This move prepares the company for a planned listing on Nasdaq, with shares expected to trade under the temporary symbol PEYED from October 27, 2022.

The reverse split will reduce outstanding shares from approximately 16.9 million to about 5.6 million. The company also intends to meet Nasdaq's minimum share price requirement of $3.00 for listing by maintaining a daily trading volume of at least 2,000 shares.

Precision Optics Corporation (OTCQB: PEYE) announced a significant operational update for Q4 and fiscal year 2022, reporting a 79% revenue increase to $4.79 million compared to Q4 2021. The acquisition of Lighthouse Imaging contributed $1.41 million to the quarter's revenue. Fiscal year revenue reached a record $15.68 million, an increase from $10.67 million in 2021. However, the company faced a net loss of $928,418 for the year. CEO Joseph Forkey anticipates ongoing revenue and margin growth in FY 2023, supported by various customer programs and operational efficiencies.

Precision Optics Corporation (OTCQB: PEYE) has announced a conference call scheduled for September 27, 2022, at 5:00 PM ET to discuss its fiscal year 2022 financial results. The company will release its financial results and file its 10-K report after market close on the same day. Interested parties can join the call by dialing (844) 735-3662, or via a live webcast at this link. A teleconference replay will be available until October 4, 2022.

Precision Optics Corporation (OTCQB: PEYE) expects a record revenue of approximately $15.6 million for FY 2022, marking a 46% increase from $10.7 million in the previous year. The growth stems from 10% organic revenue growth and $3.8 million from the Lighthouse Imaging acquisition. Q4 revenue is anticipated at $4.7 million, a 74% increase year-over-year. The company is also advancing its Nasdaq listing process, with further updates expected by the end of September 2022.

Precision Optics Corporation (OTCQB: PEYE) announced its participation in the Lytham Partners Summer 2022 Investor Conference on June 21-22, 2022. The company's webcasted fireside chat will begin at 9:00am ET on June 21 and can be accessed on its website. In addition, management will hold virtual one-on-one meetings during the event. Founded in 1982, Precision Optics specializes in advanced optical instruments for medical and defense industries, leveraging proprietary technologies to meet complex customer needs.

Precision Optics Corporation (PEYE) reported strong financial results for Q3 FY2022, with revenue soaring 89% to $4.65 million, driven by a $1.29 million contribution from acquired company Lighthouse. Excluding this acquisition, organic revenue grew by 37%. Gross margins increased to 37%, with over 40% excluding Lighthouse. The company experienced a net loss of $113,897 due to stock compensation and interest expenses, contrasting with a net income of $552,280 in Q3 FY2021. Adjusted EBITDA turned positive at $218,193, indicating improved operational efficiency.

Precision Optics Corporation (OTCQB: PEYE) announced on May 11, 2022, the successful transition of its newly acquired Lighthouse Imaging division into production for a next-generation otoscope device. This advanced device is already being marketed by a customer, with initial production units shipped against a $600,000 order. The company expects to complete the rest of the order in the next 9 to 12 months and anticipates additional orders as elective medical procedures recover from pandemic impacts. CEO Joe Forkey highlighted this transition as a significant milestone for future product launches.

Precision Optics Corporation (OTCQB: PEYE) has scheduled a conference call to discuss its Q3 fiscal 2022 financial results on May 16, 2022, at 5:00pm ET. The company will release its financial results and file its 10-Q after market close on the same day. Interested parties can access the call via phone or a live webcast. The company specializes in micro-optics and 3D imaging technologies, serving healthcare and defense industries.