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Optex Systems Holdings Inc. (OPXS-1.13%) has submitted its Form 10-K filing for the fiscal year ended September 29, 2024.
The filing reports an increase in total revenue to $33,995,000, up from $25,659,000 in the previous year, driven by higher demand in both the Optex Systems and Applied Optics Center segments.
Gross profit for the year was $9,529,000, reflecting a gross margin of 28.0%, compared to $6,619,000 and a 25.8% gross margin in the prior year.
Net income applicable to common shareholders increased to $3,768,000, up from $2,263,000 in the previous fiscal year.
Operating income rose to $4,821,000, compared to $2,787,000 in the previous year, attributed to increased revenues and improved gross margins.
The company reported a backlog of $44.2 million as of September 29, 2024, an increase from $41.8 million at the end of the previous fiscal year.
Optex Systems Holdings Inc. continues to focus on its core markets, including military and commercial sectors, with an emphasis on expanding product lines and increasing production capacity.
During the fiscal year, the company acquired intellectual property related to the Speedtracker Mach product line for $1 million, with potential additional payments contingent on milestone achievements.
The company maintains a $3 million revolving line of credit with Texas Capital Bank, with $1 million outstanding as of the fiscal year-end.
Optex Systems Holdings Inc. operates in two segments: Optex Systems in Richardson, Texas, and the Applied Optics Center in Dallas, Texas, with a total of 128 full-time equivalent employees as of the report date.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Optex Systems Holdings Inc. annual 10-K report dated December 19, 2024. To report an error, please email earnings@qz.com.