Optex Systems Receives $570K in New Sales Order for Its Cable Periscopes

Date Announced: 30 Sep 2016

New sales order from Defense Logistics Agency.

RICHARDSON, TX--(Marketwired - September 30, 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, announced today that it has received a new sales order from Defense Logistics Agency in the amount of $570,000 to supply its cable periscopes.

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). As a market leader in military-grade optical products, the Company manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies.

"We are pleased that DLA has chosen Optex's Cable Periscopes to enable the Abram's Mine Plow capability," said Danny Schoening, Optex's CEO. "This order demonstrates our success in penetrating a very selective segment of the market and our reputation for quality and credibility as a strategic supplier for defense and commercial markets. As a result, we are building momentum in our sales channels and we remain confident in generating significant sales contracts in the coming months."

Source: Optex Systems

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