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OPXS Nasdaq· Optex Systems Holdings Inc
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OPXS Nasdaq· Optex Systems Holdings Inc
Earnings report Q4 2023

OPXS Reports Strong Revenue Growth in Latest Quarter

Segments of Revenue

OPXS reported a significant increase in total revenues for the three months ended December 31, 2023, with a growth of $2.9 million or 72.5% compared to the prior year period. This growth was driven by increased customer demand in both operating segments, as well as improved supplier performance and higher production levels at the Optex Richardson segment.

  • Optex Systems Richardson segment experienced a revenue increase of $1.8 million or 109.6% for the quarter. This growth was attributed to higher revenue across all product lines, including increased demand for mirrors, windows, beamsplitters, collimator assemblies, and higher orders and backlog for periscope products. Additionally, the company made its first delivery against the Government of Israel sighting system contract awarded in November 2022.
  • Applied Optics Center segment saw a revenue increase of $1.2 million or 47.6% for the quarter. This growth was primarily driven by increased demand for laser filters.

Strengths

OPXS demonstrated strong financial performance in the latest quarter, with a notable increase in total revenues. The company's growth can be attributed to several factors, including increased customer demand, improved supplier performance, and higher production levels at the Optex Richardson segment. The higher revenue base also contributed to significantly higher gross margins in both operating segments. Furthermore, favorable changes in product mix between the segments further supported the increase in gross profit.

Challenges

While OPXS reported strong revenue growth, it is important to note that the company did not provide specific information about any challenges or weaknesses in their financial performance or business operations in the latest quarter.

Noteworthy

It is worth mentioning that OPXS made its first delivery against the Government of Israel sighting system contract during the three months ended December 31, 2023. This contract award in November 2022 contributed to the revenue growth in the Optex Richardson segment.

Summary

OPXS delivered a strong financial performance in the latest quarter, with a significant increase in total revenues driven by increased customer demand, improved supplier performance, and higher production levels. The company's Optex Richardson segment experienced substantial revenue growth across all product lines, including the successful delivery against the Government of Israel sighting system contract. The Applied Optics Center segment also reported solid revenue growth primarily due to increased demand for laser filters. Overall, OPXS demonstrated strengths in its financial performance, including higher gross margins and favorable changes in product mix.

Source documents

Form 10-Q  filed on Feb 12, 2024
84 pages scanned

Reference data

Company financials Q4 revenue 0
Analyst estimates Q4 EPS missed by 0.00%
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