The company said it expects the majority of the order to be shipped over the next two quarters
February 10, 2022
GARDNER, Mass.—Precision Optics Corporation, Inc., a designer and manufacturer of advanced optical instruments for the medical and defense industries, reported that it received an initial production order for $1.5 million from a large defense/aerospace company. The order addresses a new commercial application leveraging the company’s unique optical capabilities, Precision Optics said in a release.
“I am extremely pleased that Precision Optics has been awarded a production contract by this large defense/aerospace company to supply optical products for use in a highly advanced optical system,” said Joe Forkey, Ph.D. and CEO of Precision Optics, in the release. “We have been working with this customer for nearly two years to agree on specifications and to demonstrate manufacturability through multiple rounds of pre-production prototypes.
“The team at Precision Optics, including our Ross Optical division, has done an excellent job meeting the highly technical specifications required for this application, highlighting our ability to satisfy the most challenging customer requirements. Building on the successful partnership we have developed with this customer, we continue to advance additional pipeline products currently in a range of development stages, from initial evaluation to second round pre-production prototypes. I look forward to the successful delivery of this initial production order and the continued collaboration with this customer going forward.”
Initial shipments under the order are expected to occur in the [first] fiscal quarter, with the majority of the order shipped over the following two quarters. Based on the customer’s anticipated long-term deployment schedule of its systems, Precision Optics is optimistic that the purchase order will be the first of periodic orders of similar size, the company said.
Precision Optics, founded in 1982, is a vertically integrated optics company that leverages its proprietary micro-optics and 3D imaging technologies to support the healthcare and defense/aerospace industries. The company provides services ranging from new product concept through mass manufacture.