Optex Systems (OPXS) - 2025 Q2 - Quarterly Results

Financial Performance - For the three months ended March 30, 2025, revenue increased by $2.2 million, or 25.9$10.73 million[3] - For the six months ended March 30, 2025, total revenues increased by $3.4 million, or 22.2$18.93 million[3] - Consolidated gross profit for the three months ended March 30, 2025, increased by $0.8 million, or 31.4$3.36 million[4] - Operating income for the three months ended March 30, 2025, increased by $0.9 million, or 65.0$2.24 million[5] - Net income for the three months ended March 30, 2025, increased by $0.7 million, or 66.5$1.77 million[12] - Adjusted EBITDA for the three months ended March 30, 2025, increased by $0.8 million, or 49.4$2.44 million[12] Backlog and Working Capital - As of March 30, 2025, the company had a backlog of $41.1 million, a decrease of$3.1 million, or 7.0%, from the previous year[2] - Working capital as of March 30, 2025, was $17.9 million, an increase from$15.1 million as of September 29, 2024[6] - The company generated operating cash of $4.0 million during the six months ended March 30, 2025[6] - Cash and cash equivalents as of March 30, 2025, were approximately$3.5 million, with no draws against its revolving credit line[7] Company Overview - Optex Systems manufactures optical sighting systems primarily for Department of Defense applications, with products installed on various U.S. military vehicles[23] - The company is ISO 9001:2015 certified, indicating a commitment to quality management standards[23] - Optex's product offerings include periscope configurations, rifle and surveillance sights, and night vision optical assemblies[23] - The company delivers products directly to military services and prime contractors, indicating a strong position in the defense supply chain[23] Forward-Looking Statements and Risks - Forward-looking statements highlight expectations for growth strategy and financial performance, including revenue and net income[25] - Risks include potential funding issues for defense programs and competition in the market, which could impact financial results[26] - The company anticipates challenges related to supply chain and labor shortages, which may affect production timelines[26] - Optex is focused on technological advancements and delivering innovations to maintain market competitiveness[26] - The company does not assume the obligation to update forward-looking statements, emphasizing the uncertainty in predicting future results[27] Investor Relations - Contact information for investor relations is provided, indicating openness to communication with stakeholders[28]