Optex Systems Holdings Inc
NASDAQ:OPXS
Optex Systems Holdings Inc
Optex Systems Holdings, Inc. manufactures optical sighting systems and assemblies for the Department of Defense applications. The company is headquartered in Richardson, Texas and currently employs 84 full-time employees. The company went IPO on 2007-10-16. The Company’s products are installed on various types of the United States military land vehicles, such as the Abrams and Bradley, and Stryker families of fighting vehicles, as well as light armored and armored security vehicles. The company also manufactures and delivers various periscope configurations, rifle and surveillance sights, and night vision optical assemblies. The firm delivers its products both directly to the federal government and to prime contractors. Its products consist primarily of build-to-customer print products that are delivered both directly to the armed services and to other defense prime contractors. The Company’s product line includes periscopes, sighting systems, howitzers, other and applied optics center. The Company’s subsidiary includes Optex Systems, Inc. (the Borrower).
Optex Systems Holdings, Inc. manufactures optical sighting systems and assemblies for the Department of Defense applications. The company is headquartered in Richardson, Texas and currently employs 84 full-time employees. The company went IPO on 2007-10-16. The Company’s products are installed on various types of the United States military land vehicles, such as the Abrams and Bradley, and Stryker families of fighting vehicles, as well as light armored and armored security vehicles. The company also manufactures and delivers various periscope configurations, rifle and surveillance sights, and night vision optical assemblies. The firm delivers its products both directly to the federal government and to prime contractors. Its products consist primarily of build-to-customer print products that are delivered both directly to the armed services and to other defense prime contractors. The Company’s product line includes periscopes, sighting systems, howitzers, other and applied optics center. The Company’s subsidiary includes Optex Systems, Inc. (the Borrower).
Revenue Growth: Optex Systems reported a 22.6% increase in quarterly revenue and a 22.3% rise over nine months, mainly driven by higher periscope production and customer demand.
Profitability: Net income for the quarter grew to $1.5 million from $1.3 million, and operating income rose by 18.3% to $1.9 million.
Cash Position: Cash on hand increased significantly, reaching $4.9 million at quarter-end and $6 million as of the call date, with no outstanding debt.
Backlog Fluctuation: Backlog decreased 16% year-over-year to $38.3 million but rebounded post-quarter to $45 million due to new contract awards.
Leadership Update: Chad George was appointed President, with an employment agreement through July 2028 and a grant of 10,000 restricted shares.
Product & Contract Wins: Announced major new contracts, including $2.8 million for XM30 and $10.2 million for a five-year optical siding system contract.
Use of Cash: No immediate plans for dividends or buybacks; preference is for opportunistic acquisitions, with a conservative approach.
