Business
Optex Systems Holdings, Inc. Announces Financial Highlights for the Three Months Ended December 29, 2024
RICHARDSON, TX / ACCESS Newswire / February 10, 2025 / Optex Systems Holdings, Inc. (Nasdaq:OPXS), a leading manufacturer of precision optical sighting
About this update from Optex Systems Holdings, Inc.
[{"type":"text","content":"RICHARDSON, TX / ACCESS Newswire / February 10, 2025 / 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 months ended December 29, 2024.Danny Schoening, CEO of Optex Systems Holdings, Inc., commented, \"We are pleased that our 17.6% year-over-year increase in revenue helped the company deliver a 65.6% increase in operating profit for the first fiscal quarter of 2025. We expect that our strong backlog, as detailed in our 10-Q, should allow the company to deliver revenue in excess of $38 million for fiscal 2025. Over the last four-years we have delivered compounded annual revenue growth in excess of 20% per year, and our entire team is working hard to continue that momentum into the years ahead. We continue to work closely with our customers on their new designs while simultaneously working with their operations counterparts to meet their supply needs today. Profitable, sustainable growth continues to be our central focus.\"Backlog as of December 29, 2024 was $42.0 million as compared to $45.0 million as of December 31, 2023, representing a decrease of 6.7%. The decrease in backlog is primarily attributed to the timing of customer orders. We are anticipating new orders in the near term, some of which will call for delivery in the current fiscal year.For the three months ended December 29, 2024, our total revenues increased by $1.2 million, or 17.6%, compared to the prior year period. The increase in revenue was primarily driven by increased revenue on higher demand for periscopes, laser filters and day windows, partially offset by lower revenue in commercial optical assemblies and other products.Consolidated gross profit for the three months ended December 29, 2024 increased by $0.4 million, or 26.4%, compared to the prior year period. Increased gross profit during the period was primarily driven by changes in product mix combined with higher revenue against a fixed cost base.Our operating income for the three months ended December 29, 2024 increased by $0.4 million, or 65.6%, compared to the prior year period. The increase in operating income was primarily driven by revenue and gross profit growth, which outpaced increased general and administrative spending.As of Decemb...