The following is a summary of the Precision Optics Corporation, Inc. (POCI) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Precision Optics reported Q3 revenue of $5.24 million, a significant increase driven by new production orders and record engineering revenue.

• Gross margins continued to improve, leading to a positive adjusted EBITDA of $52,000.

• Company lowered its operating loss from $493,000 in Q3 fiscal 2023 to $258,000 in Q3 fiscal 2024 due to higher gross profit and reduced operating expenses.

• Net loss dropped to $317,000 in Q3, a decrease from the previous year's $398,000.

• Company projected similar or higher revenue for Q4 fiscal 2024, with improved margins leading to enhanced profitability.

Business Progress:

• A record single-use endoscope assembly order for cystoscopy surgery denotes a significant business achievement.

• New order is anticipated to yield $2.2 million and $4.6 million in revenues in fiscal 2025 and 2026 respectively.

• Company increased focus in the aerospace and defense market, evident from two follow-on production orders.

• Explorations of expansion opportunities are underway in both defense aerospace and medical device markets.

• Consolidation of duplicate production locations and management groups is set to improve profitability.

• Plans to continue growth in fiscal 2025 by leveraging their broad technical capabilities and resources.

• Lingering uncertainties depend on speed new programs reach higher volumes, but company expects Q4 revenue to either mirror or surpass Q3's.

• Acquisition of Lighthouse has fostered stronger connections with larger clients.

• Three substantial new programs, past the prototype phase, are expected to enter production within six months, two of which are awaiting 510(k) approval.

More details: Precision Optics IR

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