Syntec Optics Holdings, Inc. (NASDAQ: OPTX) shares kicked off Thursday ahead of the game. The Rochester, New York-based company, purporting to be a leading provider of technology solutions for defense, communications, biomedical, and consumer end-markets, today announced securing follow-on orders of $2.1 million for critical optics that integrate into the next-generation military scopes.
Syntec Optics previously announced the creation of a dedicated manufacturing cell at the facility and engineering efforts to scale for advanced optics. The new scopes integrate several advanced technologies, including a variable magnification optic, laser rangefinder, visible and infrared lasers, a digital display overlay, and several other sensing and calculating abilities.
Syntec’s mission-critical optics are scheduled to be delivered through 2026. Orders will likely increase in the following years and are anticipated to last over a decade.
Syntec Optics team uniquely produces intricate optics using advanced manufacturing techniques that enable the Army to take full advantage of its next-generation equipment as it attempts to modernize half-century-old equipment. The new scope, where Syntec’s optics are integrated, is like a computer calculating range, ballistics, atmospherics, directional information, digital overlay, and wireless features, and it can also link to the Army’s new smart goggles.
OPTX shares began Thursday up four cents, or 3.4%, to $1.21.