Business
Optex Systems Holdings, Inc. Announces $14.4 Million Award from Defense Logistics Agency
RICHARDSON, TX / ACCESSWIRE / January 11, 2021 / 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 / January 11, 2021 / Optex Systems Holdings, Inc. (OTCQB:OPXS), a leading manufacturer of precision optical sighting systems for domestic and worldwide military and commercial applications, announces a contract for Laser Protected Periscopes for a base period of three years plus two one-year option years, not to exceed $14.4 million pursuant to an Indefinite Delivery - Indefinite Quantity (IDIQ) contract.Danny Schoening, CEO of Optex commented, \"After a ten month process, it is exciting to finally secure this significant sole source contract win. And while the $14.4 million order is a \"not to exceed\" amount, this is a major vote of confidence in one of our higher volume Laser Protected Periscopes and allows us to plan and execute per the customer's ongoing requirements.\"With this order, Optex's current backlog stands at over $15.9 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 results to differ materially from those projected or anticipated. Such risks and uncertainties in...