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PEYE Precision Optics

We have been developing and manufacturing advanced optical instruments since 1982. Today, the majority of our business is the design and manufacture of high-quality medical devices. Approximately 8% of our revenue in fiscal year 2019 is from the design, manufacture and resale of optical products for military and defense and 13% for other industrial, non-medical products. Our medical instrumentation line includes traditional endoscopes and endocouplers as well as other custom imaging and illumination products for use in minimally invasive surgical procedures. Much of our recent development efforts have been targeted at the development of next generation endoscopes. Over the last ten years, we have funded internal research and development programs to develop next generation capabilities for designing and manufacturing 3D endoscopes and very small Microprecision™ lenses, anticipating future requirements as the surgical community continues to demand smaller and more enhanced imaging systems for minimally invasive surgery. Our unique proprietary technology in these areas, combined with recent developments in the areas of 3D displays and millimeter sized CMOS image sensors, has allowed us to begin commercialization of these technologies. Thus, approximately 30-40% of our revenues in each of the fiscal years 2017, 2018 and 2019 were derived from engineering and design services we performed for our customers to incorporate our technologies and capabilities into their medical device products. We believe that new products based on these technologies provide enhanced imaging for existing surgical procedures which help to enable development of many new medical device products and related medical procedures. Approximately 50-70% of our total revenues in fiscal years 2017, 2018 and 2019 were derived from the assembly and manufacture of endoscopic medical devises, sub-assemblies and optical components ordered by our customers and usually developed from the engineering and design services we perform for them. We expect sales revenue increases to come from the orders from our customers to manufacture the products we help them engineer and design.

Company profile

Ticker
PEYE
Exchange
Website
CEO
Joseph Norman Forkey
Employees
Incorporated
Location
Fiscal year end
Former names
PRECISION OPTICS Corp INC, PRECISION OPTICS CORPORATION INC
SEC CIK
IRS number
42795294

PEYE stock data

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

16 Feb 21
11 Apr 21
30 Jun 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Jun 20 Jun 19 Jun 18 Jun 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 816.26K 816.26K 816.26K 816.26K 816.26K 816.26K
Cash burn (monthly) 28.08K (positive/no burn) 70.91K 83.05K 14.93K 28.39K
Cash used (since last report) 94.74K n/a 239.22K 280.19K 50.38K 95.77K
Cash remaining 721.52K n/a 577.04K 536.07K 765.88K 720.49K
Runway (months of cash) 25.7 n/a 8.1 6.5 51.3 25.4

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
16 Nov 20 Peter H Woodward Stock Option Common Stock Grant Aquire A No No 1.4 30,000 42K 150,000
16 Nov 20 Richard B Miles Stock Option Common Stock Grant Aquire A No No 1.4 20,000 28K 114,000
16 Nov 20 Andrew J. Miclot Stock Option Common Stock Grant Aquire A No No 1.4 20,000 28K 100,000
24 Jan 20 Stuart Sternberg Common Stock, $0.01 par value Sell Dispose S No No 2 22,218 44.44K 1,235,784
6 Dec 19 Peter H Woodward Stock Option Common Stock Grant Aquire A No No 1.5 30,000 45K 120,000

Financial report summary

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Competition
ScoutCamMedigus
Management Discussion
  • Our total revenues for the quarter ended December 31, 2020, were $2,785,450, as compared to $2,796,762 for the same period in the prior year, a decrease of $11,312, or 0.4%. Engineering revenue during the quarter ended December 31, 2020 increased approximately $370,000 compared to the same fiscal quarter of the prior year due primarily to the addition of projects with two new customers. Production revenue had a decrease in quarter-over-quarter revenue of approximately $246,000 due primarily to COVID-19 related slow-downs instituted by our existing customers. Other revenue changes between the quarter ended December 31, 2020 and the same period of the prior year were considered customary fluctuations with existing customers and project progressions.
Content analysis
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Positive
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Legalese
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Readability
H.S. junior Avg
New words: assembly, diagnostic, system
Removed: ASC, ASU, cardiovascular, China, enabling, ENT, essential, experienced, impacted, modified, negatively, retrospective, scanning, source

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