Optex Systems Holdings, Inc Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended January 1, 2012; Provides Guidance on General and Administrative Costs for the Year 2012
February 22, 2012 at 03:47 pm
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Optex Systems Holdings Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended January 1, 2012. For the quarter, the company reported revenues of $4,270,000 against $4,984,000 for the same period last year. The decline in revenue is primarily due to completion of two of the company's Howitzer programs in fiscal year 2011 with no current follow-on contracts, combined with an overall downturn in government defense spending. Operating income was $26,000 against $103,000 for the same period last year. Income before taxes was $16,000 against $80,000 for the same period last year. Net loss after taxes was $49,000 against net income after taxes of $51,000 for the same period last year. Net loss applicable to common shareholders was $156,000 or $0.00 per basic and diluted share against $50,000 or $0.00 per basic and diluted share for the same period last year. The increased loss is primarily due to a $0.1 million increase in general and administrative costs in the current year over prior year levels, primarily related to product development.
The company provided guidance on general and administrative costs for the year 2012. The company expects the increased general and administrative costs to continue throughout fiscal year 2012 with an overall increase of approximately 20% over the prior year level.
Optex Systems Holdings, Inc. is a manufacturer of optical sighting systems and assemblies, primarily for department of defense applications. Its products are installed on various types of United States military land vehicles, such as the Abrams and Bradley fighting vehicles, light armored and armored security vehicles and the Stryker family of vehicles, as well as light armored and armored security vehicles. Its segments are Optex Systems and Applied Optics Center. It also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. It delivers its products both directly to the federal government and to prime contractors. Its products consist primarily of build-to-customer print products. Its product line includes periscopes, sighting systems, howitzers, other and applied optics center. It also offers Speedtracker, a cutting-edge chronograph designed to measure projectile velocity. Its subsidiary is Optex Systems, Inc.
Optex Systems Holdings, Inc Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended January 1, 2012; Provides Guidance on General and Administrative Costs for the Year 2012
OPTEX SYSTEMS HOLDINGS, INC 
