Annual report pursuant to Section 13 and 15(d)

Property and Equipment

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Property and Equipment
12 Months Ended
Oct. 03, 2021
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 5 — Property and Equipment

 

A summary of property and equipment at October 3, 2021 and September 27, 2020 is as follows:

 

               
        (Thousands)  
    Estimated
Useful Life
  Year Ended
October 3, 2021
    Year Ended
September 27, 2020
 
Property and Equipment                    
Furniture and Fixtures   3-5 yrs   $ 398     $ 398  
Machinery and Equipment   5 yrs     4,035       3,782  
Leasehold Improvements   7 yrs     296       276  
Less: Accumulated Depreciation         (3,712 )     (3,450 )
Net Property & Equipment       $ 1,017     $ 1,006  
                     
Depreciation Expense       $ 263     $ 248  

 

During the twelve months ended October 3, 2021, Optex Systems Holdings’ purchased $254 thousand in new furniture and fixtures and $20 thousand in leasehold improvements. During the twelve months ended October 3, 2021, there were no sales or retirements of fixed assets. 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.