Precision Optics enters into main purchase agreement with top tier aerospace customer

Precision Optics Corporation, Inc., a leading designer and manufacturer of advanced optical instruments for the medical and defense/aerospace industries, today 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.

“After many months of negotiation, we are pleased to announce we have executed an agreement which will govern manufacturing for this customer going forward,” commented Dr. Joe Forkey, CEO of Precision Optics. “This agreement provides us with a level of predictability and visibility to our growing production schedule which will benefit both us and our customer. I look forward to a long and successful relationship with this customer going forward.”