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Precision Optics (PEYE)

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

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

16 May 22
26 Jun 22
30 Jun 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jun 21 Jun 20 Jun 19 Jun 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 831.59K 831.59K 831.59K 831.59K 831.59K 831.59K
Cash burn (monthly) 143.87K (no burn) 20.37K 127.66K 54.93K 63.17K
Cash used (since last report) 413.56K n/a 58.56K 366.95K 157.91K 181.57K
Cash remaining 418.02K n/a 773.02K 464.64K 673.67K 650.01K
Runway (months of cash) 2.9 n/a 37.9 3.6 12.3 10.3

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
2 Mar 22 Joseph Norman Forkey Common Stock Payment of exercise Dispose F No No 2.25 16,000 36K 347,620
2 Mar 22 Joseph Norman Forkey Common Stock Option exercise Acquire M No No 1.2 30,000 36K 363,620
2 Mar 22 Joseph Norman Forkey Stock Option Common Stock Option exercise Dispose M No No 1.2 30,000 36K 500,000
1 Mar 22 Joseph Norman Forkey Stock Option Common Stock Gift Dispose G No No 1.2 120,000 144K 530,000
28 Feb 22 Richard B Miles Common Stock Option exercise Acquire M No No 1.2 7,600 9.12K 22,712
28 Feb 22 Richard B Miles Stock Options (Rights to buy) Common Stock Option exercise Dispose M No No 1.2 7,600 9.12K 126,400
7 Feb 22 Jeffrey DiRubio Stock Option Common Stock Grant Acquire A No No 2.09 100,000 209K 225,000
3 Dec 21 Daniel S Habhegger Common Stock Grant Acquire A No No 2.199 9,095 20K 9,095
17 Nov 21 Andrew J. Miclot Stock Options (Rights to buy) Common Stock Grant Acquire A No No 2.26 20,000 45.2K 120,000

Financial report summary

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Competition
ScoutCamMedigus
Management Discussion
  • Our total revenues for the quarter ended March 31, 2022, were $4,651,352, as compared to $2,458,290 for the same period in the prior year, an increase of $2,193,062, or 89.2%, primarily due to inclusion of the Lighthouse division since its acquisition on October 4, 2021 and an increase in medical devise manufacturing revenue. Excluding the effect of the Lighthouse acquisition, engineering revenue experienced a slight quarter-over-quarter decrease while production revenue was up 106% and component revenue increased 32% from the quarter ended March 31, 2021 to 2022.

Content analysis

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