GARDNER, Mass., May 11, 2022 /PRNewswire/ — Precision Optics Corporation, Inc. (OTCQB: PEYE), a leading designer and manufacturer of advanced optical instruments for the medical and defense industries, today announced that its newly acquired successfully transferred into production a new generation otoscope device that exploits the unique capabilities of the company’s optical systems. This product supports an advanced otoscopy procedure and system already marketed by the company’s customer. The first production units were shipped for a $600,000 production order that follows the product development order received by Lighthouse Imaging, prior to its acquisition by Precision Optics. The Company expects to ship the remainder of this order within the next nine to twelve months. Additional production orders are expected as elective medical procedures continue to recover from the impact of the pandemic.
“The transition of this product from our development pipeline to commercial production is a key milestone for the company as it represents the first of a number of product launches we are planning from our recently acquired Lighthouse Imaging division,” commented the doctor. Joe Forkey, CEO of Precision Optics. “We look forward to continuing to provide this customer with this highly sophisticated medical imaging device, and to having an excellent long-term opportunity for Precision Optics and our customer. With our engineering teams integrating well and working more closely together on new projects also as projects drawn from the two pre-acquisition pipelines, we expect an increase in the number of programs to be supported by the company and an acceleration in the rate at which these programs can be brought into production.”
About Precision Optics Corporation
Founded in 1982, Precision Optics is a vertically integrated optics company primarily focused on leveraging its proprietary micro-optics and 3D imaging technologies for the healthcare and defense/aerospace industries by providing services ranging from new product concept to mass production. With its industry-leading in-house design, prototype, regulatory and manufacturing capabilities as well as the electronic imaging expertise of its Lighthouse Imaging division and global sourcing, inspection and production resources at high volume of its Ross Optical division, the company is able to design and manufacture next-generation product solutions to meet the most demanding customer requirements. In healthcare, Precision Optics enables next-generation medical device companies around the world to meet the growing demands of the surgical community for more improved and smaller imaging systems for minimally invasive surgery as well than 3D endoscopy systems to support the rapid proliferation of surgical robotic systems. . In addition to these next-generation applications, Precision Optics has provided leading medical device companies with a wide variety of optical products for decades, including complex endocouplers and specialty endoscopes. The Company also relies on its technical competence in micro-optics to enable cutting-edge defense and aerospace applications that require the highest quality standards and optimization of size, weight and power. For more information, please visit www.poci.com.
About forward-looking statements
This press release contains forward-looking statements. Forward-looking statements include, but are not limited to, statements that express the Company’s intentions, beliefs, expectations, strategies, predictions, or any other statements relating to the Company’s future business or events or conditions future. These statements are based on current expectations, estimates and projections regarding the Company’s business, based, in part, on assumptions made by the Company’s management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual results and results may differ materially from what is expressed or anticipated in the forward-looking statements due to many factors, including the risks discussed in the Company’s Annual Report on Form 10-K and in other documents that we file from time to time. with the SEC. Any forward-looking statement speaks only as of the date on which it is made, and the Company undertakes no obligation to update any forward-looking statement except as required by law.
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SOURCE Precision Optics Corporation