SOURCE: Optex Systems Holdings, Inc.

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April 21, 2016 08:45 ET

Optex Systems Receives $841,000 in Initial Orders for Its Advanced Laser Protected Periscopes

RICHARDSON, TX--(Marketwired - April 21, 2016) - Optex Systems, Inc., a wholly owned subsidiary of Optex Systems Holdings, Inc. (OTCQB: OPXS), a leading manufacturer of optical sighting systems and assemblies for domestic and foreign militaries, today announced that it has received $841,000 in orders for its laser protected periscopes with an option for an additional $841,000 from the U.S. Army Contracting Command.

Optex's periscopes will be installed in the Abrams U.S. military land vehicles, which are main battle tanks used by the U.S. Army. The Company's laser periscopes come with optional laser protection in both glass and plastic, to protect soldiers' eyes during battle.

"Optex is a market leader in military-grade optical products and this order further cements our relationship with the U.S. Army representing several compelling value propositions for the Company," said Danny Schoening, Optex's CEO. "This demonstrates the superiority of our military periscopes as a best value solution with world-class field performance. Through this established customer, we are able to expand our order base to provide a recurring revenue stream while strengthening our foothold in the market. We take pride in providing great optics solutions for our soldiers who are utilizing and maintaining the current Abrams fleet. We remain committed to our focus on development and innovation and anticipate many forthcoming purchase orders."

ABOUT OPTEX SYSTEMS

Optex, which was founded in 1987, is a Richardson, Texas based ISO 9001:2008 certified concern, which manufactures optical sighting systems and assemblies, primarily for Department of Defense (DOD) applications. Its products are installed on various types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Armored Security Vehicles, and have been selected for installation on the Stryker family of vehicles. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors. For additional information, please visit the Company's website at www.optexsys.com.

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This press release and other written reports and oral statements made from time to time by the Company may contain so-called "forward-looking statements," all of which are subject to risks and uncertainties. You can identify these forward-looking statements by their use of words such as "expects," "plans," "will," "estimates," "forecasts," "projects" and other words of similar meaning. You can identify them by the fact that they do not relate strictly to historical or current facts. These statements are likely to address the Company's growth strategy, financial results and product and development programs. You must carefully consider any such statement and should understand that many factors could cause actual results to differ from the Company's forward-looking statements. These factors include inaccurate assumptions and a broad variety of other risks and uncertainties, including some that are known and some that are not. No forward-looking statement can be guaranteed and actual future results may vary materially.

The Company does not assume the obligation to update any forward-looking statement. You should carefully evaluate such statements in light of factors described in the Company's filings with the SEC, especially on Forms 10-K, 10-Q and 8-K. In various filings the Company has identified important factors that could cause actual results to differ from expected or historic results. You should understand that it is not possible to predict or identify all such factors. Consequently, you should not consider any such list to be a complete list of all potential risks or uncertainties.

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