Annual report pursuant to Section 13 and 15(d)

Property and Equipment

Property and Equipment

12 Months Ended

Sep. 27, 2020

Property, Plant and Equipment [Abstract]

Note 5 — Property and Equipment

A summary of property and equipment at September 27, 2020 and September 29, 2019 is as follows:

		(Thousands)
	Estimated Useful Life	Year Ended September 27, 2020			Year Ended September 29, 2019
Property and Equipment
Furniture and Fixtures	3-5 yrs	$	398		$	378
Machinery and Equipment	5 yrs		3,782			3,650
Leasehold Improvements	7 yrs		276			276
Less: Accumulated Depreciation			(3,450	)		(3,202	)
Net Property & Equipment		$	1,006		$	1,102

*Depreciation Expense*		$	248		$	340

During the twelve months ended September 27, 2020, Optex Systems Holdings’ purchased $20 thousand in new furniture and fixtures and $132 thousand in machinery and equipment. During the twelve months ended September 27, 2020, there were no sales or retirements of fixed assets. During the twelve months ended September 29, 2019, Optex Systems Holdings’ purchased $143 thousand in new machinery and equipment. During the twelve months ended September 29, 2019, Optex recorded proceeds on the sale of fixed assets of $8 thousand for the sale of $14 thousand in machinery and equipment with a net book carrying value of $1 thousand generating a gain on sale of $7 thousand.