Precision Optics Announces Record $9M Production Order For High Volume Single-Use Cystoscopy Surgery Program; Expects A Related $0.5M Order For Related Specialty Engineering Work Over The Next Six Months, Bringing The Total Order Value To ~$9.5M

Author: Benzinga Newsdesk | May 09, 2024 09:28am

Precision Optics Corporation, Inc. (NASDAQ:POCI), a leading designer and manufacturer of advanced optical instruments for the medical and defense industries, today announced a $9 million production order from a leading surgical company to supply single-use endoscope assemblies used in their cystoscopy surgery system. The assembly draws on POC's unique micro-optics and digital imaging technologies. This is the largest order POC has ever received and illustrates the opportunities that single-use applications provide to the Company.

 

Production deliveries are scheduled to begin July 2024 and proceed over several quarters. The Company presently estimates approximately $2.2 million in deliveries during its fiscal year ended June 2025, $4.6 million in fiscal 2026, and the remainder in the first half of fiscal 2027. Precision Optics has been performing engineering work for this customer and produced a limited number of units for testing and regulatory purposes. The Company expects a related $0.5 million order for related specialty engineering work over the next six months, bringing the total order value to approximately $9.5 million.

Posted In: POCI