Cohen Independent Research Group Issued a Research Report on LightPath Technologies
23 Septiembre 2010 - 11:30AM
Marketwired
LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath", "LPTH" or
the "Company"), a global manufacturer, distributor and integrator
of patented optical components and assemblies, announced today that
Cohen Independent Research Group, Inc. ("Cohen") has issued a
research report on the Company. The report can be obtained directly
from Cohen through its website at www.cohenresearch.com.
Cohen states in the report, "We believe LPTH is well positioned
to benefit from the demand growth for optical components and the
huge current market opportunity. We project revenues of
approximately $9.3 million for fiscal year end June 30, 2010 and
$36.2 million by 2015. Margins are likely to expand as the Company
increases production from its plant in China. Based on an average
of [the valuation methods used by Cohen] and provided our financial
forecasts are met, LPTH common stock is valued at $5.58 per share,
64.1% higher than current market price of $3.40; an exciting short
and long term investment opportunity." Cohen indicates in the
report that the valuation is calculated using market based multiple
valuation, Discounted Cash Flow (DCF) and by applying the Cohen
Price Performance Index approach. The multiple-based valuation
approach uses the expected 2011 Price to Earnings and Price to
Capital Employed ratio; The Cohen Price Performance Index, which is
representative of the past coverage performance of all stocks
evaluated by Cohen; and lastly, the value derived using the
long-term Cohen Discounted Cash Flow (DCF) valuation approach.
Any opinions, judgments, estimates or forecasts regarding the
Company's historical or predicted performance or operations made by
Cohen in the report or recited in this press release are Cohen's
own opinions, judgments, estimates or forecasts and do not
represent or reflect opinions, judgments, estimates or forecasts of
the Company or its management. The Company does not by its
reference to the research report prepared by Cohen imply its
approval or endorsement of or concurrence with such information,
conclusions, or recommendations.
The statements in this press release are made as of the date of
this press release, even if subsequently made available by the
Company on its web site or otherwise. The Company does not assume
any obligation to update any forward-looking statements provided to
reflect events that occur or circumstances that exist after the
date on which they were made.
The Company retained Cohen to prepare and publish the research
report on the Company and paid Cohen $7,500 in connection
therewith.
About LightPath Technologies, Inc.
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 & measurement and
telecommunications. LightPath has a strong patent portfolio that
has been granted or licensed to it within these fields. For more
information, visit www.lightpath.com.
About Cohen Independent Research Group,
Inc. Cohen Independent Research Group, Inc. is considered to
be the Gold Standard of independent research fundamental securities
analysis. Cohen Research's proprietary in-house analytical research
engine, The Cohen Financial and Valuation Model, allows Cohen
Research to analyze companies at a comprehensive depth and level
unavailable to other independent fundamental research firms. For
more information, please visit www.cohenresearch.com.
"Safe Harbor" Statement: This press
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. All
investors are cautioned that such forward-looking statements in
this report/release/advertisement are not guarantees of future
performance. 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® is a registered trademark of LightPath
Technologies.
Contacts: LightPath Technologies, Inc. Ray Pini Director
of Marketing Tel: 407-382-4003 x336 rpini@lightpath.com
www.lightpath.com Cohen Independent Research Group, Inc. Paul Cohen
President Tel: 415-454-6985 www.cohenresearch.com
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