From GlobeNewswire: 2024-08-14 15:12:08

Syntec Optics Holdings, Inc. reported strong financial results for the first quarter of 2024, with net sales reaching $7.01 million and adjusted EBITDA increasing to $1.32 million. The company secured significant orders for space optics and defense microdisplays, entering the high-growth data center market as well. Syntec also developed advanced optical solutions for biomedical imaging and night vision applications. The company ended the second quarter with a positive net income of $0.3 million. Future guidance predicts continued revenue growth in the communications, medical, and defense industries, with expected revenue of $9.5 – $11.0 million in the third quarter. Plans for the fourth quarter include additional growth from defense-based product launches. Syntec Optics is positioned for success in diverse end-market equipment manufacturing with its proprietary technology and innovative products.



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