Optex Systems Receives Its First International Multi-Component Order
RICHARDSON, Texas, Oct. 5, 2009 (GLOBE NEWSWIRE) -- Optex Systems Holdings, Inc. (OTCBB:OPXS), a leading manufacturer of optical sighting systems and assemblies primarily for Department of Defense applications, today announced that General Dynamics Land Systems - Canada (GDLS-C), a division of General Dynamics (NYSE:GD - News), issued to Optex a non-binding $3.9 million Letter of Intent (LOI) for the procurement of various system components, including optical and vision equipment (i.e., periscopes and vision blocks) for use as production and spares for the assembly, repair and maintenance of GDLS-C family of Light Armored Vehicles. GDLS-C has already placed orders for approximately $500,000 in system components.
This opportunity also solidifies Optex's capabilities to support international contracts that have US trade control requirements for importing and exporting defense-related articles. Optex is currently registered with the Directorate of Defense Trade Controls and the Bureau of Alcohol, Tobacco, Firearms and Explosives as required for importing and exporting defense-related articles.
Danny Schoening, COO of Optex Systems, commented, "Optex is pleased to add an international presence such as GDLS-Canada to our customer base. This further shows that Optex has the ability to supply to and meet the needs of international customers and significantly increases the marketability of our product, which is also an important step in expanding our customer base and revenue potential."
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:
ZA Consulting Inc.
David Zazoff
212-505-5976
pressreleases@za-consulting.net
Released October 5, 2009