Syntec Optics (OPTX) Reports Q2 EPS of $0.01

Syntec Optics (NASDAQ: OPTX) reported Q2 EPS of $0.01, versus ($0.03) reported last year. Revenue for the quarter came in at $7.01 million, versus $6.26 million reported last year.

Guidance:

Our recent increases in ongoing sales into the communications, medical, and defense industries are expected to accelerate in the third quarter, particularly within our space communications optics and datacom microlens arrays. As such, the third quarter 2024 revenue is expected to be in the range of $9.5 - $11.0 million.

We expect our gross margin to hold level or slightly improve based on the profitability of ramping up products. General and administrative costs are expected to increase modestly to enable ramped-up engineering, quality, and pilot production to support continued growth in the third quarter.

Looking to the fourth quarter, we anticipate continued strength from the communications and biomedical end-markets, with additional growth coming from defense-based product launches.

Our products are propelled by tailwinds as we move towards laser-based satellite communications versus radar-based for low latency, biomedical automation, defense equipment modernization, and on-shoring. Mission-critical products use proprietary techniques that provide an economic moat.

Lastly, we expect positive net income in the second half of the year, enabling further investments to energize our continued growth.

For earnings history and earnings-related data on Syntec Optics (OPTX) click here.

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