Optex Systems, Inc. and Nightforce Optics, Inc. Announce Strategic Multi-Year $6 Million Supply Agreement
RICHARDSON, TX -- (Marketwired) -- 06/01/15 -- Optex Systems, Inc., a wholly owned subsidiary of Optex Systems Holdings, Inc. (OTCQB: OPXS), a leading manufacturer of optical sighting systems and assemblies for domestic and foreign militaries, announced today a strategic multi-year supply agreement with Nightforce Optics, Inc. (Nightforce) to supply critical optical assemblies through the recently acquired Applied Optics Center (AOC) Division. The targeted amount of goods and services is expected to exceed $6 Million over a multi-year agreement.
"The AOC Division of Optex Systems is proud to have been chosen as a premium supplier to Nightforce. The core competencies of AOC and the manufacturing requirements of Nightforce have aligned to allow both companies to pursue a more strategic relationship within the supply chain," stated Bill Bates, AOC's General Manager. He continued, "This agreement is consistent with our desire to diversify our revenue stream beyond the Department of Defense customer base using existing infrastructure and personnel."
Klaus Johnson, Nightforce's Product and Business Development Manager commented, "We believe this Strategic Supply Agreement with AOC gives Nightforce a competitive edge at a critical time in our business. Our customers demand the absolute best products available and they look to us to bring improved technology and feature sets. This agreement will support Nightforce in delivering on both of those ever increasing demands."
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.
ABOUT NIGHTFORCE OPTICS
Nightforce was established in 1992 and is headquartered in Orofino, Idaho. Since its inception, Nightforce has had one goal in mind: to build the finest riflescopes on the market. Every riflescope that is sold is thoroughly inspected and tested by hand at our Idaho headquarters. Each is checked at 70 different points, and must pass a battery of tests ensuring that it will be rugged, reliable and repeatable. When you receive a product from Nightforce, you can be assured that it is as close to absolutely perfect as humanly possible. For addition information on our line of products be sure to visit www.nightforceoptics.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.
Stan Hirschman
President
(972) 764-5677
ir@optexsys.com
1420 Presidential Drive
Richardson, TX 75081
Source: Optex Systems Holdings, Inc.
Released June 1, 2015