Optex Systems Locks in $518,000 Shipment to Brazil
RICHARDSON, TX -- (Marketwired) -- 06/02/16 -- 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 that it has completed its first shipments of its patented M17 Day / Thermal Periscope (NSN 6650-01-619-6545) to Brazil.
According to BMI research, Brazil has the largest defense budget in the Latin America region and is able to invest significantly into procurement of military equipment and defense R&D.
"We have been successfully diversifying our sales channels and increasing our emphasis on new opportunities to promote and deliver Optex's products to foreign military markets," said Danny Schoening, Optex's CEO. "As a result, our international contracts are ramping up and we expect this expansion to continue in the next few years. This contract presents a compelling opportunity as it provides a much greater opportunity for a long-term contract with Brazil."
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:
Robert Haag
Managing Director
IRTH Communications
OPXS@irthcommunications.com
1-866-976-4784
Source: Optex Systems Holdings, Inc.
Released June 2, 2016