2018 – Quarter 1 Results and Outlook
Thank you all for your comments and suggestions in 2017. As my first blog in 2018, I am extremely pleased with our success in several areas. First, as our most recent PR indicated, the U.S. Government has awarded Optex with multiple 3-5 year IDIQ contracts on our Laser Protected Periscopes. The combined amount was over $7.7 million, and these awards do not include those contracts we currently have with contractors such as GDLS, GDLS-CA and BAE. Overall, we believe the Optex proprietary process of delivering Laser Protected Periscopes have been widely accepted by the U.S. Government and those Prime Contractors which are also providing armored vehicles directly to the U.S. Government. Optex’s Quality (the ability to meet the critical performance requirements on Day 1) and Reliability (the ability to continue to meet the critical performance requirements throughout the life cycle of the product) continue to provide “Best Value” for our customers and ultimately to the warfighter.
Second, I am encouraged by the continuing success of our Applied Optics Center (AOC) Division. Last year, they successfully secured the IDIQ contract for the Laser Interference Filter (LIF) used on the legacy night vision goggles. These critical filters protect the internal components of the goggles and ensure continued availability for the warfighter. These same types of filters are used on the next generation goggles which now combine the imagery of the Image Intensified Night Vision with the imagery of thermal sensors. Together, they provide the warfighter with a “fused” image in one goggle. Here’s a quick link to a video on the new system:
Finally, it was a rewarding experience to speak with our existing and potential new customers at the Las Vegas SHOT Show and the San Francisco Photonics West Show in January. The products we demonstrated and the new optical coatings (Diamond Like Carbon coating – DLC and the High Efficiency broad band Anti-Reflective coating - HEAR) generated multiple encouraging conversations about the applications in our space.
As you can see from our first fiscal year 2018 10Q, we are off to a great start this year as we continue to pound the same drum……increased revenue, increased margins, and increased earnings.