GARDNER, Mass., March 18, 2013 /PRNewswire/ -- Precision Optics Corporation, Inc. (OTCQB: PEYE) (the "Company") today announced that it has received a follow-on purchase order for $660,000 for custom-designed endoscopes to be manufactured and delivered over a sixteen-month period beginning in July 2013.
The endoscopes represent two distinct designs which include various aspects of the Company's unique proprietary Microprecision™ lens technology and optical visualization system expertise. Commenting on the purchase order, Chief Executive Officer, Joseph Forkey stated, "This order is from one of our largest medical device customers and represents the first follow-on order for a new small endoscope that was just recently introduced to the marketplace. We visited this customer in January to discuss the status of these endoscopes and to demonstrate our latest technologies and new products. We are honored to provide our products and services to this valued world-class medical device customer, and look forward to ongoing discussions regarding our newest technologies."
We are also fielding many inquiries and quotation requests resulting from our attendance last month at the SPIE Photonics West Conference and the Medical Design & Manufacturing (MD&M) West shows. We believe these follow-up activities represent continuing affirmation of the broadening awareness of our product development capabilities and our recent proprietary innovations in micro-optics and 3D endoscopy technologies.
About Precision Optics CorporationPrecision Optics Corporation has been a leading developer and manufacturer of advanced optical instruments since 1982. Using proprietary optical technologies, the Company designs and produces next generation medical instruments, Microprecision™ micro-optics with characteristic dimensions less than 1 millimeter, and other advanced optical systems for a broad range of customers including some of the largest world-wide medical device companies. The Company's innovative medical instrumentation line includes state-of-the-art endoscopes and endocouplers as well as custom illumination and imaging products for use in minimally invasive surgical procedures. The Company believes that current advances in its proprietary micro-optics and 3D imaging technologies present significant opportunities for expanding applications to numerous potential medical products and procedures. The Company's website is www.poci.com. Investors can find Real-Time Quotes and market information for the Company on www.otcmarkets.com/stock/PEYE/quote.About Forward-Looking StatementsThis press release contains forward-looking statements. Forward-looking statements include, but are not limited to, statements that express the Company's intentions, beliefs, expectations, strategies, predictions or any other statements related to its future activities or future events or conditions. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by its management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including those risks discussed in the Company's annual report on Form 10-K and in other documents that it may file from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this report, except as required by law. SOURCE Precision Optics Corporation, Inc.
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