Precision Optics Corporation, Inc. (NASDAQ:POCI), a manufacturer of advanced optical instruments with a market capitalization of $33.58 million, disclosed the outcomes of its annual stockholders’ meeting held on May 20, 2025. According to InvestingPro data, the company generated revenue of $17.63 million in the last twelve months, though it currently operates without profitability. The company, headquartered in Gardner, Massachusetts, announced the election of its board of directors, approval of executive compensation, and ratification of its independent auditors in a filing with the Securities and Exchange Commission on Friday. InvestingPro analysis shows the company maintains a moderate debt level, with a debt-to-equity ratio of 0.16, suggesting conservative financial management.
Stockholders voted on three key proposals during the meeting. The first proposal was the election of directors, where Peter H. Woodward (NASDAQ:WWD), Andrew J. Miclot, Buell G. Duncan, Joseph P. Pellegrino, Jr., and Joseph N. Forkey were re-elected to the board. The votes for each nominee were overwhelmingly in favor, with no votes against and a number of abstentions and broker non-votes.
The second proposal, an advisory vote on executive compensation, also passed with a significant majority. This non-binding vote endorsed the compensation paid to the company’s Named Executive Officers for the fiscal year ended June 30, 2024.
Lastly, stockholders ratified the appointment of Stowe & Degon, LLC as the company’s independent registered public accounting firm for the fiscal year ending June 30, 2025. This proposal received near-unanimous support from the voting shares.
The meeting saw an active participation rate, with approximately 78.95% of the outstanding shares as of the record date, March 31, 2025, being represented.
This report is based on the information provided in the company’s 8-K filing with the SEC. InvestingPro rates the company’s overall financial health as ’FAIR’ with a score of 2.13 out of 5. Investors seeking deeper insights can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports, available for over 1,400 US stocks including POCI.
In other recent news, Precision Optics Corporation Inc. reported a significant decline in its third-quarter earnings for fiscal year 2025. Revenue dropped 19.2% year-over-year, from $5.2 million in the previous year to $4.2 million. The company’s gross margin also fell sharply to 10% from 35% a year earlier, indicating operational difficulties. Despite these challenges, Precision Optics launched the Unity platform for modular endoscope design and saw increased revenue from its aerospace program, which is expected to double output in the fourth quarter. The company is targeting $6 million in quarterly sales for Q4 and anticipates positive adjusted EBITDA, supported by commitments from an aerospace customer for $4 million in annual purchases through 2026. Precision Optics faced a steep decline in engineering revenue, which fell to $924,000 from $2.3 million, but production revenue showed a slight increase. The company remains optimistic about future quarters, with plans to launch a second production line for its single-use cystoscope. Analyst feedback was not provided in the recent news, but the company has expressed confidence in overcoming its current challenges.
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