Business
Optex Systems Holdings, Inc. Announces Financial Highlights for the Three and Nine Months Ended June 29, 2025
RICHARDSON, TX / ACCESSWIRE / August 13, 2024 / Optex Systems Holdings, Inc. (Nasdaq:OPXS), a leading manufacturer of precision optical sighting systems for
About this update from Optex Systems Holdings, Inc.
[{"type":"text","content":"RICHARDSON, TX / ACCESSWIRE / August 13, 2024 / Optex Systems Holdings, Inc. (Nasdaq:OPXS), a leading manufacturer of precision optical sighting systems for domestic and worldwide military and commercial applications, announced financial results for the three and nine months ended June 30, 2024.Danny Schoening, CEO of Optex Systems Holdings, Inc., commented, \"It was an excellent quarter across the board. With supply chain constraints easing, automation efforts coming on line, and more appropriate staffing levels, we are shipping product at an increased velocity. I can't say enough about our employees' willingness to put in the extra effort to meet our customer's demands. Our products are mission critical and we thank the entire Optex team for their dedication.\"Backlog as of June 30, 2024 was $45.6 million. This compares to a backlog of $41.8 million as of October 1, 2023, representing an increase of $3.8 million, or 9.1%, and a backlog of $41.6 million as of July 2, 2023, representing an increase of $4.0 million, or 9.6%.For the three months ended June 30, 2024, our total revenues increased by $1.9 million, or 26.3%, compared to the prior year period. The increase in revenue was primarily driven by increased deliveries at both the Optex Richardson segment of $1.6 million and the Applied Optics Center segment of $0.3 million. For the nine months ended June 30, 2024, our total revenues increased by $7.0 million, or 39.6%, compared to the prior year period. The increase in revenue was primarily driven by increased deliveries at both the Optex Richardson segment of $4.6 million and the Applied Optics Center segment of $2.4 million. The increase in revenue for the three and nine-month periods were driven by increased customer demand for military products across both operating segments partially offset by lower customer demand in commercial optical assemblies at the Applied Optics Center.Consolidated gross profit for the three months ended June 30, 2024 increased by $1.2 million, or 68.3%, compared to the prior year period. Consolidated gross profit for the nine months ended June 30, 2024 increased by $3.1 million, or 78.8%, compared to the prior year period. The increase in the most recent three and nine-month period gross margin was primarily attributable to higher revenue spread across a fixed manufacturing cost base combined wit...