POCI News & Events

Precision Optics Corporation announced the receipt of a product development order to design and build a next generation borescope system to be used to inspect the inside of jet engines from a large aerospace and defense company. The initial $678,000 development order was received following an extensive assessment by the customer including an onsite supplier evaluation day where POC was evaluated against three other potential supplier finalists. "We are extremely pleased to have been awarded this important order for a high-end borescope used in jet engine inspection," commented Joe Forkey, CEO of Precision Optics. "This win represents another strong validation of the growing opportunities we are seeing across the Defense and Aerospace sectors. Our ability to deliver the entire image train-from advanced optical design to precision mechanical engineering and fully integrated electronic systems-continues to differentiate us in a market that demands uncompromising performance and reliability."

Precision Optics announced the receipt of a product development order to build sub-assemblies that will support an advanced augmented reality system for US Air Force fighter pilot training, powered by POC's next-generation optical sub-assembly design and manufacturing technologies. The program aims to allow pilots to wear AR headsets while in the air in their fighter jets, simulating combat training, without the need for secondary aircraft to be present. This reduces cost and the potential for training related accidents. The customer has been contracted by the US Air Force to deploy their solution on multiple aircraft platforms. The initial $723,000 development order is focused on leveraging POC's optical expertise to design, prototype and qualify compact optical systems with ultra-high precision optical performance.

Precision Optics announced it has made the strategic decision to move its corporate offices, including executive leadership, product development engineering, program management, human resources, business development and accounting, from Gardner, MA to Littleton, MA. The move allows for the consolidation of dedicated production capabilities at POC's existing facilities in Gardner to meet the Company's growing production backlog, which stood at an all-time high at the end of the most recent quarter. This new facility in Littleton, along with a new facility in South Portland, Maine, also allows POC access to a broader engineering talent pool to execute on the Company's ongoing product development pipeline.

Precision Optics announced it has executed a Main Purchase Agreement which will govern the Company's ongoing work with a top tier aerospace company. The agreement highlights the commitment between the companies to expand production of a commercial application that leverages Precision Optics' proprietary manufacturing technology. Orders during the current calendar year for this program have exceeded $3.1 million, increasing total backlog from this program to $6.6 million. To accelerate deliveries, POC recently doubled its clean room production line capacity and expects the current backlog to be delivered over the next 12 months. The two parties commenced production of this program in September 2023. Follow-on orders have been received on an ongoing basis since that time, culminating in the execution of a formal agreement between the two companies containing minimum purchase commitments of nearly $4 million per year through calendar 2026.