Optex Systems Reports Significant Gains in Revenue and Gross Profit for First Half of 2024

Optex Systems Holdings, Inc. (NASDAQ:OPXS), a leading manufacturer specializing in precision optical sighting systems, reported substantial growth in its financial performance for the first half of 2024. According to the company's latest financial disclosures, total revenues for the three and six months ended March 31, 2024, increased by 33.8% and 48.8% respectively, compared with the same periods in the previous year. This rise was primarily attributed to heightened deliveries across its Optex Richardson and Applied Optics Center segments.

The company also saw a notable improvement in its gross profit, which surged by 64.6% for the quarter and 86.9% over the six months ended March 31, 2024. This progress was largely due to a more favorable product mix, better pricing strategies, and an efficient utilization of the fixed manufacturing cost structure.

Operating income followed a similar upward trend, increasing by significant margins in both the quarterly and semi-annual comparisons. Correspondingly, net income and Adjusted EBITDA demonstrated robust growth, underlining the company's enhanced profitability in the recent periods.

Despite these gains, Optex Systems experienced a slight downtick in new orders, particularly in the Optex Richardson segment due to a comparison with a prior year substantial contract. However, the total backlog as of March 31, 2024, increased by 6.3%, indicating a healthy order pipeline going forward.