GARDNER, Mass., Nov. 11, 2024 (GLOBE NEWSWIRE) -- Precision Optics Corporation, Inc. (Nasdaq: POCI) (the "Company"), a leading designer and manufacturer of advanced optical instruments for the medical and defense/aerospace industries, today announced that it has scheduled a conference call to discuss the Company’s first quarter fiscal year 2025 financial results on Thursday, November 14, 2024, at 5:00pm ET. The Company intends to release its financial results and to file its 10-Q after the close of the mark ...

GARDNER, Mass., Sept. 30, 2024 (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 fourth quarter and fiscal year ended June 30, 2024. FY 2024 Financial Highlights (Year Ended June 30, 2024): Revenue was $19.1 million compared to $21.0 million in the previous fiscal year. Revenue of $19.1 million, exceeded the high ...

Revenue Performance - Total revenues for the fiscal year ended June 30, 2024, were $19,104,350, a decrease of $1,940,117, or 9.2%, compared to $21,044,467 for the prior year[106] - Revenue from Engineering Design Services increased by 23.7% to $8,323,433, driven by increasing demand and expansion of engineering capacity[107] - Revenue from Optical Components decreased by 20.3% to $8,384,140, attributed to reduced industry demand and lower order volumes[107] - Revenue from Finished Products and Assemblies decreased by 36.8% to $2,396,777, primarily due to timing differences in customer program transitions[108] Profitability - Gross profit decreased to $5,797,777, with a gross margin of 30.3%, down from 36.8% in the prior year[109] Expenses - R&D expenses decreased to $981,781, reflecting a focus on product improvements and new technology development[110] - SG&A expenses increased by 2.2% to $7,540,329, primarily due to higher salaries, travel, and marketing expenses[112] Cash Position - Cash and cash equivalents decreased to $405,278 at June 30, 2024, from $2,925,852 at June 30, 2023, a decrease of $2,520,574[113] Financing Activities - The company entered into securities purchase agreements resulting in gross proceeds of approximately $1.4 million[116] - Contractual cash commitments related to open purchase orders as of June 30, 2024, are approximately $6,250,000[116]

GARDNER, Mass., Sept. 24, 2024 (GLOBE NEWSWIRE) -- Precision Optics Corporation, Inc. (Nasdaq: POCI) (the "Company"), a leading designer and manufacturer of advanced optical instruments for the medical and defense/aerospace industries, today announced that it has scheduled a conference call to discuss the Company's fourth quarter and fiscal year 2024 financial results on Monday, September 30, 2024, at 5:00pm ET. The Company intends to release its financial results and to file its 10-K after the close of the ...

Dublin, Sept. 16, 2024 (GLOBE NEWSWIRE) -- The "Ophthalmic Lens and Precision Optics Manufacturing Machines - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering. The global market for Ophthalmic Lens and Precision Optics Manufacturing Machines was valued at an estimated US$500.8 Million in 2023 and is projected to reach US$596.3 Million by 2030, growing at a CAGR of 2.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, dri ...

Company Overview - Precision Optics Corporation, Inc. is a leading designer and manufacturer of advanced optical instruments for the medical and defense industries, founded in 1982 [7] - The company focuses on leveraging proprietary micro-optics and 3D imaging technologies to provide innovative solutions for healthcare and defense/aerospace applications [7] Leadership Changes - Clay Schwabe has been appointed as the Vice President of Sales and Marketing, bringing over fifteen years of experience in medical device market access and commercialization [4] - Jeff DiRubio, the current Senior Vice President of Sales and Marketing, will transition to a consulting role after contributing to a sales increase of over 700% during his tenure [5][2] Strategic Focus - The company aims to meet the increasing demands of the surgical community for enhanced and smaller imaging systems, particularly for minimally invasive surgery and 3D endoscopy systems [7] - Precision Optics is also leveraging its technical proficiency in micro-optics to support defense/aerospace applications that require high quality standards and optimization of size, weight, and power [7]

GARDNER, Mass., July 08, 2024 (GLOBE NEWSWIRE) -- Precision Optics Corporation, Inc. (NASDAQ: POCI), a leading designer and manufacturer of advanced optical instruments for the medical and defense industries, today announced the appointment of Clay Schwabe, as the Company's Vice President of Sales and Marketing. Mr. Schwabe has over fifteen years of experience in medical device market access, sales, sales management, global product marketing, and commercialization. He is an emerging technologies specialist ...

GARDNER, Mass., May 23, 2024 (GLOBE NEWSWIRE) -- Precision Optics Corporation, Inc. (NASDAQ:POCI), a leading designer and manufacturer of advanced optical instruments for the medical and defense industries, today announced that Dr. Joe Forkey, Chief Executive Officer, will participate in a webcasted presentation and host one-on-one meetings with investors at the Lytham Partners Spring 2024 Investor Conference, taking place virtually on Thursday, May 30, 2024. Company Webcast The webcasted presentation will ...

Start Time: 17:00 January 1, 0000 5:33 PM ET Precision Optics Corporation, Inc. Q3 2024 Earnings Conference Call May 15, 2024, 17:00 PM ET Company Participants Joe Forkey - President and CEO Wayne Coll - CFO Robert Blum - Lytham Partners, IR Conference Call Participants Operator Good afternoon, everyone, and welcome to the Precision Optics Reports Third Quarter Fiscal Year 2024 Financial Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. After today's presentat ...

or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-10647 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 PRECISION OPTICS CORPORATION, INC. (Exact name of registrant as specified in its charter) (State or other jurisdic ...