Optex Systems Receives Its First International Multi-Component Order
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RICHARDSON, Texas, Oct. 5, 2009 (GLOBE NEWSWIRE) -- Optex Systems Holdings, Inc.
(OTCBB:OPXS), a leading manufacturer of optical sighting systems and assemblies
primarily for Department of Defense applications, today announced that General
Dynamics Land Systems - Canada (GDLS-C), a division of General Dynamics
(NYSE:GD), issued to Optex a non-binding $3.9 million Letter of Intent (LOI) for
the procurement of various system components, including optical and vision
equipment (i.e., periscopes and vision blocks) for use as production and spares
for the assembly, repair and maintenance of GDLS-C family of Light Armored
Vehicles. GDLS-C has already placed orders for approximately $500,000 in system
components.
This opportunity also solidifies Optex's capabilities to support international
contracts that have US trade control requirements for importing and exporting
defense-related articles. Optex is currently registered with the Directorate of
Defense Trade Controls and the Bureau of Alcohol, Tobacco, Firearms and
Explosives as required for importing and exporting defense-related articles.
Danny Schoening, COO of Optex Systems, commented, "Optex is pleased to add an
international presence such as GDLS-Canada to our customer base. This further
shows that Optex has the ability to supply to and meet the needs of
international customers and significantly increases the marketability of our
product, which is also an important step in expanding our customer base and
revenue potential."
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.
Safe Harbor Statement
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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CONTACT: ZA Consulting Inc.
David Zazoff
212-505-5976
pressreleases@za-consulting.net
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