LightPath Technologies Reports Sales of Aspheres in China More Than Double Over the Past Six Months
13 Septiembre 2010 - 7:30AM
Marketwired
LightPath Technologies, Inc. (NASDAQ: LPTH), a manufacturer,
distributor and integrator of patented optical components and
assemblies, announced today that sales of its precision molded
aspheres and optical assemblies in China have more than doubled
over the past six months compared to the prior six month period.
LightPath is experiencing strong growth for its molded aspheric
lenses in the targeted market segments of consumer and industrial
laser tools, medical equipment, and telecommunications.
The market for aspheric lenses in Asia is expected to top $280
Million by 2011, and increased adoption among multiple market
segments in China is helping to drive up demand for LightPath's
products. Molded aspheric lenses provide new cost savings over
traditional high volume spherical doublet and triplet lenses
without sacrificing performance.
Jim Gaynor, CEO of LightPath Technologies, commented, "We are
pleased to report that acceptance of molded aspheres as a
replacement for spherical doublets and triplets has surpassed our
initial expectations. Over the last six months, we have more than
doubled our sales into the Chinese market. The continued success of
our application-specific products demonstrates our capabilities in
providing a low cost platform for the manufacture of high precision
glass molded aspheric lenses. We anticipate continued growth in
industrial laser tools and medical equipment segments as well as
resurgence in the telecommunications segment in the near future. We
are also excited by the initial acceptance of our new line of blue
lenses."
Through its wholly-owned Shanghai-based subsidiary, LightPath
operates a low-cost, high-volume ISO 9001:2008 certified production
facility and clean room with direct access to the Asian
marketplace. Presently, its Shanghai facility is at 48% of total
capacity. LightPath is currently doubling its press capacity to
ensure it will keep pace with the anticipated unit volume demand
for high-volume, low-cost lenses used in industrial tools,
telecommunications infrastructure and other commercial
applications.
About LightPath Technologies LightPath
manufactures optical products including precision molded aspheric
optics, GRADIUM® glass products, proprietary collimator assemblies,
laser components utilizing proprietary automation technology,
higher-level assemblies and packing solutions. The Company's
products are used in various markets, including industrial,
medical, defense, test and measurement, and telecommunications.
LightPath has a strong patent portfolio that has been granted or
licensed in these fields. For more information, visit
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.
Contact: Ray Pini Director of Marketing LightPath
Technologies, Inc. Tel: +1-407-382-4003 x336 Email:
rpini@lightpath.com Web: www.lightpath.com
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