OPXS announces a shared award. Backlog is down to $23.6M versus the $25M they announced Nov 12. I hope that is because they are working through it. Not sure what value they are assigning to this in the backlog since it is said that the exact number of units is yet to be determined.
Optex Systems Holdings, Inc. Announces a Shared $35 Million Award from Defense Logistics Agency
ACCESSWIRE ACCESSWIREDecember 3, 2019
RICHARDSON, TX / ACCESSWIRE / December 3, 2019 / Optex Systems Holdings, Inc. (OPXS), a leading manufacturer of precision optical sighting systems for domestic and worldwide military and commercial applications, announces a shared award for a maximum of $35 Million for Improved Commander Weapon System (ICWS) periscopes under a three year Indefinite Delivery - Indefinite Quantity (IDIQ) contract with two additional optional years.
Optex and another recipient have been awarded this shared award from Defense Logistics Agency, Land and Maritime. Each company's portion of the award will depend on price and performance over the ordering periods. Both companies have produced the product in the past and both companies are currently in production under different contracts.
Danny Schoening, CEO of Optex commented, "While the exact number of units to be ordered is yet to be determined, we know this item is critical to the continued production and support of the M1A2 Abrams Tank. Given this demand and this approved IDIQ contract, Optex is ready to react to the Government's needs for this mission critical periscope."
With this order, Optex's current backlog stands at over $23.6 Million.
