Company to conduct 1x1 meetings on April 24, 2025GARDNER, Mass., April 21, 2025 (GLOBE NEWSWIRE) -- Precision Optics Corporation, Inc. (NASDAQ: POCI), a leading designer and manufacturer of advanced optical instruments for the medical and defense/aerospace industries, today announced that it will be presenting at the Planet MicroCap Showcase: VEGAS 2025 in partnership with MicroCapClub on Wednesday, April 23, 2025, at 4:00 p.m. Pacific Time (7:00 p.m. Eastern Time). Dr. Joe Forkey, Chief Executive Officer o ...

$3.1 million of new orders received during the current calendar year$6.6 million customer program backlog expected to be delivered over next 12 months$3.9 million of additional commitments expected to be received for calendar 2026 GARDNER, Mass., April 03, 2025 (GLOBE NEWSWIRE) -- Precision Optics Corporation, Inc. (NASDAQ:POCI), a leading designer and manufacturer of advanced optical instruments for the medical and defense/aerospace industries, today announced it has executed a Main Purchase Agreement whic ...

GARDNER, Mass., March 27, 2025 (GLOBE NEWSWIRE) -- Precision Optics Corporation, Inc. (NASDAQ: POCI), a leading designer and manufacturer of advanced optical instruments for the medical and defense/aerospace industries, today announced that it will participate in a webcasted fireside chat at the Lytham Partners 2025 Industrials & Basic Materials Investor Summit, taking place virtually on Tuesday, April 1, 2025. The fireside chat will take place at 3:30 p.m. ET on Tuesday, April 1, 2025. The webcast can be a ...

Core Insights - Precision Optics Corporation has appointed Buell Duncan to its Board of Directors, enhancing its commitment to innovation and growth [1][3] - Buell Duncan has extensive experience in technology and business sectors, having held senior leadership roles at IBM and currently serving as a Portfolio Advisor at Iron Gate Capital [2] - Dr. Richard Miles has retired from the Board after 20 years of service, with the company expressing gratitude for his contributions [3][4] Company Overview - Founded in 1982, Precision Optics is a vertically integrated optics company focused on advanced optical instruments for healthcare and defense/aerospace industries [5] - The company leverages proprietary micro-optics, 3D imaging, and digital imaging technologies to meet the demands of the surgical community and support surgical robotic systems [5] - Precision Optics has a history of supplying a variety of optical products to top-tier medical device companies, including complex endocouplers and specialized endoscopes [5]

Core Viewpoint - Precision Optics Corporation has successfully closed a registered direct offering of common stock, raising approximately $5.1 million in gross proceeds to support its growth initiatives and repay debt [1][2][3]. Group 1: Offering Details - The offering consisted of 1,272,500 shares at a purchase price of $4.00 per share, resulting in gross proceeds of approximately $5.1 million and expected net proceeds of approximately $5.0 million after deducting offering expenses [2]. - The company plans to use the net proceeds to repay certain indebtedness, expand its facilities to support expected growth, and for general working capital purposes [2]. Group 2: Company Background - Founded in 1982, Precision Optics is a vertically integrated optics company focused on advanced optical instruments for the healthcare and defense/aerospace industries [4]. - The company leverages proprietary micro-optics, 3D imaging, and digital imaging technologies to meet the demands of the surgical community and support the proliferation of surgical robotic systems [4]. - Precision Optics has a long history of supplying a variety of optical products to top-tier medical device companies, including complex endocouplers and specialized endoscopes [4].

Core Viewpoint - Precision Optics Corporation has announced a registered direct offering of 1,272,500 shares at a price of $4.00 per share, aiming to raise approximately $5.1 million in gross proceeds, with net proceeds expected to be around $5.0 million after expenses [1][2]. Group 1: Offering Details - The offering is led by existing stockholders and is expected to close on or about February 21, 2025, pending customary closing conditions [2]. - The offering is conducted under an effective shelf registration statement on Form S-3, previously filed with the SEC [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized to repay certain debts, expand facilities to support anticipated growth, and for general working capital purposes [1]. Group 3: Company Overview - Precision Optics Corporation, founded in 1982, specializes in advanced optical instruments for the medical and defense/aerospace sectors, leveraging proprietary technologies in micro-optics and imaging [5]. - The company provides comprehensive services from product concept to mass manufacturing, catering to the increasing demands for enhanced imaging systems in minimally invasive surgeries and 3D endoscopy [5]. - Precision Optics also focuses on high-quality standards and optimization in size, weight, and power for defense/aerospace applications [5].

Financial Data and Key Metrics Changes - For Q2 2025, revenue was $4.5 million, down from $4.8 million in Q2 2024, slightly below the expected $5 million [38] - Manufacturing revenue increased by 42% from Q1 to Q2, marking the largest quarter-over-quarter production increase in many years [11][38] - Gross margins were 24% compared to 30% in the same quarter last year, impacted by lower sales volume and increased R&D spending [39] Business Line Data and Key Metrics Changes - The single-use cystoscope program and defense aerospace program have been ramping production, contributing significantly to revenue growth [11][26] - Production revenue in Q2 was up substantially over Q1, with expectations for record levels in Q3 and Q4 driven by these programs [26][31] Market Data and Key Metrics Changes - The single-use endoscope market is expected to grow at annual rates of up to 20%, with POC well-positioned to benefit from this trend [14] - The company has seen its Ross Optical components business stabilize at approximately $1 million per quarter, with expectations for recovery by the end of fiscal 2025 [32] Company Strategy and Development Direction - The launch of the Unity imaging platform is expected to enhance POC's competitive position by accelerating time to market and reducing development risks [21][24] - POC aims to double its product development pipeline size, requiring an increase in the engineering team to support anticipated growth [23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued growth in the second half of fiscal 2025, driven by strong backlogs and a return to normalized engineering operations [12][33] - The company is addressing capacity limitations to meet demand from existing customers, which is seen as a positive indicator for future growth [34][81] Other Important Information - The company is in the process of expanding its cleanroom space and workforce to meet production demands, with significant increases in capacity expected by the end of March [85][87] - Cash balance as of December 31, 2024, was approximately $200,000, with an additional $350,000 available on the line of credit [43] Q&A Session Summary Question: Update on defense contracts with specification problems - Management confirmed two significant defense aerospace programs are in production, with one running steadily at $2 million to $2.5 million annually, and the other expected to reach a $3 million to $4 million run rate by the end of the fiscal year [55][59] Question: Details on the Unity platform - The Unity platform allows for baseline designs tailored to customer specifications, significantly accelerating the time to market by reducing development cycles [60][66] Question: Reasons for lower than expected revenue in Q2 - Management cited delays in product development due to the focus on launching the Unity platform and customer-related delays in regulatory approvals and financing [72][76] Question: Plans to increase capacity - The company is expanding cleanroom capacity and increasing workforce by approximately 80% to meet the substantial backlog in production [84][87]

Conference Call Scheduled for today, February 13, 2025, at 5:00pm ET.GARDNER, Mass., Feb. 13, 2025 (GLOBE NEWSWIRE) -- Precision Optics Corporation, Inc. (NASDAQ: POCI), a leading designer and manufacturer of advanced optical instruments for the medical and defense/aerospace industries, announced operating results on an unaudited basis for its second quarter fiscal year 2025 for the period ended December 31, 2024. Q2 2025 Financial Highlights (3 Months Ended December 31, 2024): Revenue was $4.5 million comp ...

Revenue Performance - Total revenues for the quarter ended December 31, 2024 were $4,526,907, a decrease of $297,382 or 6.2% compared to $4,824,289 for the same period in the prior year[69]. - Revenue from Engineering Design Services decreased 46.8% during the three-month period ending December 31, 2024, attributed to decreased demand and delays in milestone completion[70]. - Revenue from Optical Components increased 50.8% during the three-month period ending December 31, 2024, driven by new defense/aerospace and medical device programs[71]. Financial Metrics - Gross margin decreased to 23.6% during the quarter ending December 31, 2024, compared to 30.1% for the same quarter in the prior year[74]. - R&D expenses increased to $317,747 during the quarter ending December 31, 2024, up $96,019 from $221,728 in the same quarter of the prior year[76]. - SG&A expenses decreased 14.0% to $1,662,216 during the three months ending December 31, 2024, compared to $1,933,411 in the same period of the prior year[77]. Cash Flow and Financing - Net cash used in operating activities totaled $1,105,431 during the six months ending December 31, 2024, a decrease from $1,492,824 in the same period of the prior year[79]. - The company raised a net of $1,204,542 through the issuance of new shares in a registered direct common stock offering during the six months ending December 31, 2024[81]. - The company raised approximately $1.4 million in gross proceeds from the sale of 265,868 shares of common stock on August 14, 2024, with net proceeds of $1,204,542[84]. Debt and Commitments - The company has a $2,600,000 term loan and a second term loan of $750,000, with $900,000 in borrowings outstanding on the line of credit as of December 31, 2024[82]. - The company did not meet the minimum annual debt service coverage ratio covenant of 1.2x as of June 30, 2024, but the lender has agreed to waive compliance for this period[83]. - Contractual cash commitments for fiscal 2025 total $111,094, including $19,610 for capital lease payments and $92,007 for minimum operating lease payments[86]. - The company has approximately $5,807,000 in contractual cash commitments related to open purchase orders as of December 31, 2024[86]. Operational Insights - The market for single-use endoscopes is expected to grow at two to three times the rate of the overall minimally invasive surgical market[63]. - There are currently no off-balance sheet arrangements that could materially affect the company's financial condition or results of operations[87]. - As a smaller reporting company, the company is electing scaled disclosure reporting obligations and is not required to provide certain market risk information[88].

Core Viewpoint - Precision Optics Corporation is set to announce its second quarter fiscal year 2025 financial results on February 13, 2025, followed by a conference call to discuss these results [1][2]. Company Overview - Precision Optics Corporation, founded in 1982, specializes in advanced optical instruments for the medical and defense/aerospace industries, focusing on micro-optics and 3D imaging technologies [5]. - The company provides a range of services from product concept to mass manufacturing, leveraging in-house design, electronic imaging expertise, and regulatory capabilities [5]. - In healthcare, Precision Optics supports the development of enhanced imaging systems for minimally invasive surgeries and surgical robotic systems [5]. - The company also supplies optical products to top-tier medical device companies, including complex endocouplers and specialized endoscopes [5]. - In the defense/aerospace sector, Precision Optics applies its micro-optics technology to meet high-quality standards while optimizing size, weight, and power [5]. Conference Call Details - The conference call is scheduled for February 13, 2025, at 5:00 p.m. ET, with access available via phone and live webcast [3]. - Call-in numbers include (844) 735-3662 or (412) 317-5705, and the live webcast can be accessed at https://app.webinar.net/z0E94DknxQO [3]. - A replay of the call will be available for seven days, with specific numbers and access codes provided for teleconference and webcast replay [4].