Optex Systems Wins Award for 5-Year Contract With Defense Logistics Agency for $5.99 Million

Date Announced: 22 Jul 2016

Laser-protected periscopes for armored vehicles.

RICHARDSON, TX--(Marketwired - July 22, 2016) - Optex Systems, Inc., a wholly owned subsidiary of Optex Systems Holdings, Inc. (OTCQB: OPXS), a leading manufacturer of precision optical sighting systems for domestic and worldwide military and commercial applications, today announced it has won a 5-year Indefinite Delivery, Indefinite Quantity (IDIQ) contract worth $5.99 million to supply its laser protected periscopes to the Defense Logistics Agency.

Optex provides a variety of glass and plastic periscopes with and without laser protection used on various vehicle platforms. The Company's current footprint in the periscopes & vision block market is an estimated 75% market share in the U.S. ($8-$10 M) and 20-30% worldwide ($40-$50 M).

"One of our priorities has been to increase our margins by securing more commercial contracts while maintaining our established footprint in the armored vehicle platforms," said Danny Schoening, Optex's CEO. "Winning the bid on this multi-year agreement demonstrates our capability to execute on this strategy. Given our strong IP, our excellent proven military products and a pipeline of new commercial products, we anticipate many more exciting contracts in the coming months."

Source: Optex Systems

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