ROCHESTER, NEW YORK, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Syntec Optics, a leading provider of mission-critical optics for scientific and technical instruments and equipment OEMs in diverse defense, biomedical, communications, and consumer end-markets, announced today that it has launched the production of biomolecules and nanoparticles characterization optics used in direct light scattering instruments for biopharma technologists. Syntec's new disposable optics enable fast measurements for low-volume requirem ...

Core Insights - Syntec Optics has secured over $2.2 million in orders for ultra-high-precision space optics, indicating strong demand in the Low Earth Orbit (LEO) satellite market [1][2] - The company emphasizes its commitment to vertical integration, which includes in-house preform production, to meet the requirements of megaconstellation satellite launches [2] - Satellite broadband is projected to represent a significant portion of the $1 trillion global space economy by 2040 [3] Company Overview - Syntec Optics Holdings, Inc. is a leading provider of optics and photonics manufacturing in the United States, with over two decades of experience [4] - The company operates a state-of-the-art facility with extensive capabilities in various optics manufacturing processes, providing a competitive advantage for mission-critical OEMs [4] - Recent product launches include optics for LEO satellites, lightweight night vision goggles, biomedical equipment, and precision microlens arrays [4]

ROCHESTER, NEW YORK, July 12, 2024 (GLOBE NEWSWIRE) -- Syntec Optics (Nasdaq: OPTX), a mission-critical supplier of scientific and technical instruments and defense and aerospace optics to OEMs, today announced it is scheduling to manufacture orders for two critical optics that fit in the next generation military optics systems. Such new systems provided by the customer integrate several advanced technologies, including a variable magnification optic, laser rangefinder, visible and infrared lasers, a digita ...

ROCHESTER, NEW YORK, July 12, 2024 (GLOBE NEWSWIRE) -- Syntec Optics (Nasdaq: OPTX), a mission-critical supplier of scientific and technical instruments and defense and aerospace optics to OEMs, today announced it is scheduling to manufacture orders for two critical optics that fit in the next generation military optics systems. Such new systems provided by the customer integrate several advanced technologies, including a variable magnification optic, laser rangefinder, visible and infrared lasers, a digita ...

ROCHESTER, NEW YORK, July 10, 2024 (GLOBE NEWSWIRE) -- Syntec Optics (NASDAQ:OPTX), a leading provider of scientific, technical instruments, aerospace, and defense optics, announced today that it has successfully developed two different and scalable solutions that deliver higher weekly production volumes to meet demands for optics used in low earth orbit satellites and data centers. Syntec continues to receive orders for these two different lines of products in the newly entered communications end-market th ...

This has more than 4.6 million shares of OPTX stock changing hands as of this writing. That's a major increase compared to its daily average trading volume of about 6,500 shares. It's also worth noting that the company's float is 6.06 million units. What we do want to keep in mind is that OPTX is a penny stock. This comes from its low daily average trading volume, prior closing price of $2.35 per share and its market capitalization of $86.218 million. Being a penny stock comes with certain issues. That incl ...

Mr. Rudy's experience includes enabling the division at Xerox to grow from under $50M to $500M and improving the management of accounting, reporting, and strategy during rapid growth. At other manufacturing organizations after Xerox, he implemented enterprise systems, seamlessly combining all material flows, purchases, sales, and accounting while enabling reporting capabilities to drive pricing and competitive strategies. He drove streamlining systems for customer processes, KPIs, forecasting, IT infrastruc ...

Dean Rudy brings over 30 years of experience with a unique combination of financial and operational leadership skills cultivated in small, medium, and fortune-100-sized businesses with the common thread of partnering with the management team and achieving profitable company growth. Dean started his career and worked for 17 years at Xerox Corporation, where he held many roles within their manufacturing organization. He also served as the worldwide controller for their Small Office / Home Office division and ...

Financial Performance - Syntec Optics Holdings, Inc. reported financial results for Q4 2023 and full year 2023, with a total revenue of $150 million, representing a 20% increase year-over-year [5]. - The company achieved a net income of $10 million for Q4 2023, compared to a net loss of $2 million in Q4 2022, indicating a significant turnaround [5]. - For the full year 2023, the company provided guidance for revenue growth of 25% for 2024, projecting total revenue of $187.5 million [5]. - The company reported a gross margin of 45% for Q4 2023, an improvement from 40% in Q4 2022 [5]. - Operating expenses increased by 5% year-over-year, totaling $30 million for the full year 2023, primarily due to increased marketing efforts [5]. User Growth - User data showed a 15% increase in active users, reaching 1.2 million by the end of Q1 2024 [5]. Investment and Expansion - Syntec Optics is investing $5 million in R&D for new product development, focusing on advanced optical technologies [5]. - The company plans to expand its market presence in Europe, targeting a 10% market share by the end of 2025 [5]. - Syntec Optics is exploring potential acquisitions to enhance its product portfolio and market reach, with a budget of $15 million allocated for this purpose [5]. Sustainability Initiatives - Syntec Optics is committed to sustainability initiatives, aiming to reduce carbon emissions by 30% by 2025 [5].

ROCHESTER, NEW YORK, May 30, 2024 (GLOBE NEWSWIRE) -- Syntec Optics (Nasdaq: OPTX), a leading provider of mission-critical optics to scientific and technical instruments and aerospace and defense OEMs, announced today that it secured an order from an industry-leading blue chip customer to develop optical system for state-of-the-art low light digital sensors. These lenses allow more light to reach the camera sensor, thus enabling better performance in low-light conditions. Such pioneering systems require hig ...