Business
Optex Systems Announces $9.2 Million Order from DLA
RICHARDSON, TX / ACCESSWIRE / February 18, 2020 / Optex Systems Holdings, Inc. (OTCQB:OPXS), a leading manufacturer of precision optical sighting systems for
About this update from Optex Systems Holdings, Inc.
[{"type":"text","content":"RICHARDSON, TX / ACCESSWIRE / February 18, 2020 / Optex Systems Holdings, Inc. (OTCQB:OPXS), a leading manufacturer of precision optical sighting systems for domestic and worldwide military and commercial applications, today announced a multi-year Indefinite Delivery Indefinite Quantity (IDIQ) award from Defense Logistics Agency Land and Maritime for periscopes for up to $9.2 million with a three year base and two additional option years.Danny Schoening, CEO of Optex Systems Holdings Inc., commented, \"Optex continues to be the supplier of choice for periscopes by the Department of Defense and the major prime contractors producing Armored Vehicles. These IDIQ contracts ensure the long term supply for our customers in the field and also allows Optex a longer planning window to more efficiently plan materials and production scheduling. We appreciate the partnership and long term vision from DLA.\"With this order, Optex's current backlog stands at over $23 Million.ABOUT OPTEX SYSTEMSOptex, which was founded in 1987, is a Richardson, Texas based ISO 9001:2015 certified concern, which manufactures optical sighting systems and assemblies, primarily for Department of Defense (DOD) applications. Its products are installed on various types of U.S. military land vehicles, such as 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 delivers numerous periscope configurations, rifle and surveillance sights, and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors. For additional information, please visit the Company's website at www.optexsys.com.Safe Harbor StatementThis press release contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including those relating to the products and services described herein. You can identify these statements by the use of the words \"may,\" \"will,\" \"could,\" \"should,\" \"would,\" \"plans,\" \"expects,\" \"anticipates,\" \"continue,\" \"estimate,\" \"project,\" \"intend,\" \"likely,\" \"forecast,\" \"probable,\" and similar expressions. These forward-looking statements involve risks and uncertainties that could cause actual resu...