Optex Systems Holdings Reports 2024 Financial Performance

Optex Systems Holdings, a producer of precision optical systems, has disclosed its financial results for the fiscal year ending September 29, 2024. The company experienced significant growth, with revenues rising by $8.3 million, or 32.5%, compared to the previous year. This increase was primarily driven by heightened demand for military products across both the Optex Richardson and Applied Optics Center segments.

The company's gross profit grew by $2.9 million, a 44.0% increase, raising the gross margin from 25.8% to 28.0%. Operating income rose by $2.0 million, reaching $4.8 million, indicating improved profitability despite heightened administrative costs.

Net income for 2024 totaled $3.8 million, up from $2.3 million in 2023, driven largely by boosted operating profits. Additionally, Optex booked $36.4 million in new orders, a 5.2% rise from the prior year. Despite these gains, the company maintained its credit facility balance and ended the year with $1.0 million in cash.