Optex Systems Holdings, Inc. Announces First Shipment to South America
RICHARDSON, TX -- (Marketwired) -- 04/08/14 -- Optex Systems Holdings, Inc. (OTCQB: OPXS), a leading manufacturer of optical sighting systems and assemblies primarily for Department of Defense applications, announced the first shipments of their M17 Day / Thermal Periscope (NSN 6650-01-619-6545) to a country in South America today.
"This is an important milestone for Optex because it marks the first direct sale into South America without going through a large prime contractor; this direct transaction allows Optex to serve our customers in South America directly and to help influence their future procurements. Additionally, this shipment of our new M17 Day / Thermal Periscope validates Optex efforts to upgrade existing platforms with new technology," stated Danny Schoening, CEO. He continued, "The M17 Day / Thermal Periscope is a cost effective upgrade to existing systems in that it provides both Day and Thermal views specifically designed for driving armored vehicles. It can be installed in vehicles which were originally designed without this technology like the M113 Armored Personnel Carrier, or it can be used on vehicles like the Stryker or similar Light Armored Vehicles as a backup to existing systems."
Merrick Okamoto, Optex Systems Holdings Chairman also commented, "This sale further reinforces our strategic decision to become more active in the procurement process in offshore militaries. The reduction of U.S. defense spending has become a reality and we are pleased to welcome new customers to our core and electronically updated sighting systems."
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 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:
Optex Systems Holdings, Inc.
Stanley Hirschman, President
(972) 644-0722
ir@optexsys.com
1420 Presidential Drive
Richardson, TX 75081
Source: Optex Systems Holdings, Inc.
Released April 8, 2014