Optex
Systems Receives $2.5 Million Purchase Order for
Panoramic Telescopes from
U.S. Army
Richardson, TX,- June 30, 2010
- Optex Systems Holdings, Inc. (OTC BB: OPXS), a leading manufacturer of
optical sighting systems and assemblies primarily for Department of Defense
applications, today announced that the U.S. Army Tank-Automotive and Armaments
Command, Warren, Michigan location, (TACOM-Warren) has awarded Optex a $2.5
million purchase order for additional M137 panoramic
telescopes. These M137s are being used in support of certain models
of Howitzers (e.g, M119 and M198). This is the fourth delivery order
in the final ordering period of the existing 5 year contract between Optex and
TACOM-Warren. Delivery of the M137s is scheduled to begin in January
2011 and will continue through August 2011.
Danny
Schoening, COO of Optex Systems, commented, “In recent years, the Army has been
challenged with fighting enemies in varied terrain across the world, and
Howitzers have played a central role in combat in these environments.
Optex is pleased to provide the M137 as a critical component of Howitzer fire
control that improves the effectiveness of the weaponry. This
follow-on order allows our manufacturing facility to maintain its present rate
of M137 production through August 2011, providing additional cost efficiencies
throughout the supply chain.”
ABOUT OPTEX
SYSTEMS
Optex,
which was founded in 1987, is a Richardson, Texas – based ISO 9001:2008
certified concern, which manufactures optical sighting systems and assemblies,
primarily for Department of Defense (DOD) applications. Its products are
installed on various types of U.S. military land vehicles, such as the Abrams
and Bradley fighting vehicles, Light Armored and Armored Security Vehicles, and
have been selected for installation on the Stryker family of vehicles. Optex
also manufactures and delivers numerous periscope configurations, rifle and
surveillance sights and night vision optical assemblies. Optex delivers its
products both directly to the military services and to prime contractors. For
additional information, please visit the Company’s website at www.optexsys.com.
Safe Harbor
Statement
This
press release and other written reports and oral statements made from time to
time by Optex Systems Holdings, Inc. (the” Company”) may contain so-called
“forward-looking statements,” all of which are subject to risks and
uncertainties. You can identify these forward-looking statements by their use of
words such as “expects,” “plans,” “will,” “estimates,” “forecasts,” “projects”
and other words of similar meaning. You can identify them by the fact that they
do not relate strictly to historical or current facts. These statements are
likely to address the Company’s growth strategy, financial results and product
and development programs. You must carefully consider any such statement and
should understand that many factors could cause actual results to differ from
the Company’s forward-looking statements. These factors include inaccurate
assumptions and a broad variety of other risks and uncertainties, including some
that are known and some that are not. No forward-looking statement can be
guaranteed and actual future results may vary materially.
The
Company does not assume the obligation to update any forward-looking statement.
You should carefully evaluate such statements in light of factors described in
the Company’s filings with the SEC, especially on Forms 10-K, 10-Q and 8-K. In
various filings the Company has identified important factors that could cause
actual results to differ from expected or historic results. You should
understand that it is not possible to predict or identify all such factors.
Consequently, you should not consider any such list to be a complete list of all
potential risks or uncertainties.
Contact:
Stanley
A. Hirschman
President
Optex
Systems Holdings, Inc.
1420
Presidential Drive
Richardson,
TX 75081
(972)
644-0722
ir@optexsys.com