Optex Systems Announces $2.1 Million Order for Laser-Protected Periscopes

RICHARDSON, TX / ACCESSWIRE / September 23, 2024 / Optex Systems Holdings, Inc. (Nasdaq:OPXS), a leading manufacturer of precision targeting systems for military and commercial applications domestically and internationally, today announced that it has received contracts from two domestic customers to support ongoing armored vehicle production, totaling $2.1 million, with deliveries expected to occur within the next 18 months.

Danny Schoening, CEO of Optex Systems, stated, “Optex continues to support our domestic armored vehicle manufacturers with the continued supply of laser-protected periscopes. These units provide our customers with real-time situational awareness while protecting them from damaging laser strikes.”

With this order, Optex’s order backlog exceeds $45 million.

ABOUT OPTEX SYSTEMS

Optex, founded in 1987, is an ISO 9001:2015 certified company headquartered in Richardson, Texas, that manufactures optical sighting systems and assemblies primarily for Department of Defense (DOD) applications. Its products are installed on a variety of U.S. military ground vehicles, including the Abrams and Bradley Fighting Vehicles, Light Armored and Armored Security Vehicles, and have been selected for installation on the Stryker family of vehicles. Optex also manufactures and supplies numerous periscope configurations, rifle and surveillance sights, and night vision optical assemblies. Optex supplies its products directly to both the military and prime contractors. For additional information, visit the company’s website at www.optexsys.com.

Safe Harbor Statement

This press release contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including statements relating to the products and services described herein. These statements can be identified by the use of the words “may,” “will,” “could,” “should,” “could,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” “likely,” “forecast,” “probable” and similar expressions.

These forward-looking statements reflect our expectations, beliefs, intentions or strategies regarding future events, including, but not limited to, any statements regarding growth strategy; product and development programs; financial results and condition (including revenues, net income, profit margins and working capital); orders and backlog; estimated value of IDIQ contracts; expected time to complete customer contracts and corresponding revenue recognition; increases in material and labor costs; costs remaining to complete contracts; provisions for contract losses; labor shortages; follow-on orders; supply chain challenges; continuation of historical trends; the sufficiency of our cash to meet future liquidity and capital resource needs; the anticipated impact of changes in accounting principles on our results of operations, financial condition or cash flows; anticipated issues and our plans for future operations; and the economy generally or the future of the defense industry.

These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or expected. Such risks and uncertainties include, but are not limited to, continued funding of defense programs and military expenditures, the timing of such funding, general economic and business conditions, including unanticipated weakness in the Company’s markets, the effects of ongoing geopolitical unrest and regional conflicts, competition, changes in technology and marketing methods, delays in engineering and manufacturing programs, changes in customer ordering patterns, changes in product mix, continued success in advancing technology and delivering technological innovations, changes in the U.S. government’s interpretation of federal procurement rules and regulations, changes in spending due to policy changes in each new federal presidential administration, market acceptance of the Company’s products, component shortages, production delays due to quality issues with external components, failure to fully realize expected benefits from acquisitions and restructurings or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, changes in export regulations, increases in tax rates, changes in generally accepted accounting principles, difficulties in retaining key employees and customers, unforeseen costs under service commitments and integration of fixed-price systems, market movements for micro-cap stocks, regardless of growth, value, and various other factors beyond our control.

You should consider each such statement carefully and understand that many factors could cause actual results to differ from the Company’s projected statements. These factors include imprecise assumptions and a wide range of other risks and uncertainties, some known and some unknown. No forward-looking statement can be guaranteed, and actual future results could differ materially. The Company assumes no obligation to update any forward-looking statement. You should carefully evaluate such statements in light of the factors described in the Company’s filings with the SEC, including Forms 10-K, 10-Q and 8-K. In various filings, the Company has identified important factors that could cause actual results to differ from anticipated or historical results. You should understand that it is impossible to predict or identify all such factors. Accordingly, no such list should be considered a complete list of all potential risks or uncertainties.

Contact:

[email protected]
(972) 764-5718

SOURCE: Optex Systems Holdings, Inc.

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