LightPath Announcement: LightPath Technologies Signs a Multi-Year Agreement Exceeding $1 Million
10 Enero 2008 - 11:00AM
PR Newswire (US)
LightPath Technologies Has Signed a Multi-Year Sales Agreement with
a Chinese Industrial Tool Manufacturer. ORLANDO, Fla., Jan. 10
/PRNewswire-FirstCall/ -- LightPath Technologies, Inc.
(NASDAQ:LPTH) -- LightPath Technologies is pleased to announce its
subsidiary, LightPath Optical Instrumentation (Shanghai) Co., Ltd.,
has signed a three year agreement with a Chinese industrial tool
manufacturer for the sale of custom precision aspheric lenses at an
aggregate sales price in excess of $1 million dollars. This
agreement represents a significant step towards the fulfillment of
LightPath's business strategy to broaden its market opportunities
into high volume, lower cost applications. According to Jim Gaynor,
Interim CEO, "This is LightPath's second contract in high volume
low cost asphere applications. These contracts mark LightPath's
direct entry into the Asian market. We are able to capture this
business as a direct result of the cost reduction initiatives we
have recently implemented and the capacity expansion that we have
completed in our Shanghai factory." LightPath manufactures optical
products including precision molded aspheric optics, precision
molded infrared optics, GRADIUM(R) glass products, proprietary
collimator assemblies, isolators utilizing proprietary automation
technology, higher-level assemblies and packing solutions.
LightPath has a strong patent portfolio that has been granted or
licensed to us in these fields. LightPath common stock trades on
the NASDAQ Capital Market under the symbol "LPTH." Investors are
encouraged to go to LightPath's website for additional financial
information. Contact: James Magos, Corporate Vice President, Sales
& Marketing LightPath Technologies, Inc. Phone: (407) 382-4003
Email: Internet: http://www.lightpath.com/ This news release
includes statements that constitute forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. This information may involve risks
and uncertainties that could cause actual results to differ
materially from such forward-looking statements. Factors that could
cause or contribute to such differences include, but are not
limited to, factors detailed by LightPath Technologies, Inc. in its
public filings with the Securities and Exchange Commission. Except
as required under the federal securities laws and the rules and
regulations of the Securities and Exchange Commission, we do not
have any intention or obligation to update publicly any
forward-looking statements whether as a result of new information,
future events or otherwise. GRADIUM(R) is a registered trademark of
LightPath Technologies DATASOURCE: LightPath Technologies, Inc.
CONTACT: James Magos, Corporate Vice President, Sales &
Marketing of LightPath Technologies, Inc., +1-407-382-4003, Web
site: http://www.lightpath.com/
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