Home Financial Markets Penny Stocks What Prompted Optec International (OPTI) Shares To Climb 11%

What Prompted Optec International (OPTI) Shares To Climb 11%

The stock of UV and UV-C safety products developer Optec International Inc (OTC: OPTI) closed up 11.03% to $0.3422 at the close of trading in the previous session. In the course of the session, the stock exchanged hands for 55.22M shares, ranging from $0.2750 to $0.3847.

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What happened?

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During the significant rise in Pandemic cases reported worldwide, more than 1000% increase in revenue was achieved by the company during its December 31, 2020, Quarterly Financial Report, announced the company on Wednesday.

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Financial highlights:

  • Revenues increased by more than $11 million for this period and generated approximately $7.38 million net income, allowing the company’s equity to rise to $17 million.
  • For the reported quarter, total revenue rose to $11.08 million compared to the previous quarter revenue of $1.01 million.
  • Net income for the quarter came at $7.39 million against a loss of -$1.2 million a quarter ago.

Recent developments:

OPTEC International is a maker and producer of safety devices and associated specialized technologies around for electronic LEDs, ultraviolet (UV) & UV-C, and products for PPE (Personal Security Equipment). The Safe-Scan product line of the company is being introduced at a time when Decision makers and facility managers are highly worried with ensuring stable conditions amid the global pandemic crisis and the safe reopening of the U.S. economy.

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  • To supply the global market with Antigen and Antibody Rapid-Test Kits with 10-Minute Results, OPTEC has added these testing kits to its inventory.
  • OPTEC acquires Z2O, an application providing “one-stop shop” for microbiological sterilization and cleaning.
  • Former CDC Chief and Deputy Chief of Staff Kyle McGowan and Amanda Campbell have been appointed by OPTEC to its Advisory Board.

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