RICHARDSON, TX - Optex Systems Holdings, Inc. (NASDAQ:OPXS), a prominent manufacturer of precision optical sighting systems, has secured a $2.5 million contract to supply Laser Filter Units for the XM-157 NGWS Scope. The company announced that deliveries are scheduled from August 2024 through July 2025.
Bill Bates, General Manager of Applied Optics Center, a division of Optex Systems, expressed the team's commitment to providing laser protection devices for advanced military scopes, emphasizing the importance of safeguarding the vision of U.S. military personnel. This new contract contributes to Optex's current backlog, which now exceeds $47 million.
Founded in 1987 and based in Richardson, Texas, Optex Systems is an ISO 9001:2015 certified company that specializes in producing optical sighting systems and assemblies for the Department of Defense (DOD). Its products are used on a variety of U.S. military land vehicles, including the Abrams and Bradley fighting vehicles, Light Armored and Armored Security Vehicles, and are slated for the Stryker (NYSE:SYK) family of vehicles. The company also manufactures periscopes, rifle and surveillance sights, and night vision optical assemblies, which it supplies directly to military services and prime contractors.
In other recent news, Optex Systems Holdings, Inc., a manufacturer of precision optical sighting systems, has secured a $3.8 million contract to supply components for the Armored Multi-Purpose Vehicle (AMPV) to the U.S. Government. This development is part of a series of recent events for the company. The contract entails the delivery of laser-protected periscopes, a project set to commence over the next 14 months.
The AMPV project, a significant initiative by the U.S. Army, aims to enhance troop transportation capabilities within the Armored Brigade Combat Team (ABCT). Danny Schoening, CEO of Optex Systems, emphasized the contract's importance, stating the AMPV is crucial for the ABCT's future.
InvestingPro Insights
Optex Systems Holdings, Inc. (NASDAQ:OPXS) has demonstrated a notable performance in the market, as reflected by the real-time data from InvestingPro. With a market capitalization of $48.43 million and a P/E ratio of 13.44, the company presents an attractive valuation for investors considering its growth. The P/E ratio slightly adjusts to 13.78 when looking at the last twelve months as of Q2 2024, which still indicates a reasonable valuation relative to the company's earnings.
InvestingPro Tips highlight that Optex Systems is trading at a low P/E ratio relative to near-term earnings growth, which could signal an undervalued stock to potential investors. Additionally, the company has shown the ability to cover its interest payments comfortably with its cash flows, suggesting financial stability and resilience.
From a performance standpoint, Optex Systems has experienced a large price uptick over the last six months, with a 27.89% total return, and an impressive 104.55% return over the past year. This robust performance underscores the company's strong market presence and investor confidence in its operational capabilities and future prospects.
For investors interested in deeper analysis and additional insights on Optex Systems, InvestingPro offers more tips, including the company's moderate level of debt and its profitability over the last twelve months. There are a total of 9 InvestingPro Tips available, which can be accessed through the platform for those looking to make an informed decision on their investment.
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