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Wednesday, December 1, 2010

Defense and Security Stocks; Optex (OTCBB:OPXS) Reports $2.5 Million Purchase Order for Panoramic Telescopes From U.S. Army

RICHARDSON, Texas - December 1, 2010 (Investorideas.com Defense Newswire) - Defense stocks news as announced on June 30 -- Optex Systems Holdings, Inc. (OTCBB:OPXS), a leading manufacturer of optical sighting systems and assemblies primarily for Department of Defense applications, today announced that the U.S. Army Tank-Automotive and Armaments Command, Warren, Michigan location, (TACOM-Warren) has awarded Optex a $2.5 million purchase order for additional M137 panoramic telescopes. These M137s are being used in support of certain models of Howitzers (e.g, M119 and M198). This is the fourth delivery order in the final ordering period of the existing 5 year contract between Optex and TACOM-Warren. Delivery of the M137s is scheduled to begin in January 2011 and will continue through August 2011.
Danny Schoening, COO of Optex Systems, commented, "In recent years, the Army has been challenged with fighting enemies in varied terrain across the world, and Howitzers have played a central role in combat in these environments. Optex is pleased to provide the M137 as a critical component of Howitzer fire control that improves the effectiveness of the weaponry. This follow-on order allows our manufacturing facility to maintain its present rate of M137 production through August 2011, providing additional cost efficiencies throughout the supply chain."
ABOUT OPTEX SYSTEMS (OTCBB:OPXS)
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 Optex Systems Holdings, Inc. (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.
Contact:
Optex Systems Holdings, Inc.
Stanley A. Hirschman, President
(972) 644-0722
ir@optexsys.com
1420 Presidential Drive
Richardson, TX 75081
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