LightPath Technologies Announces Preliminary Second Quarter Results
27 Enero 2011 - 9:30AM
Marketwired
LightPath Technologies, Inc. (NASDAQ: LPTH), (the "Company,"
"LightPath" or "we"), a global manufacturer, distributor and
integrator of patented optical components and assemblies, announced
today its preliminary financial results for the second quarter
ended December 31, 2010.
The Company reported preliminary revenue of $2.53 million for
the second quarter of fiscal 2011, an increase of 14% as compared
to $2.23 million for the same period of fiscal 2010. Cash as of
December 31, 2010 was $1.10 million as compared to $1.46 million on
June 30, 2010. For the second quarter of fiscal 2011, cash derived
from operations was positive. Backlog scheduled to ship within the
next 12 months was $3.3 million as of December 31, 2010, an
increase of $323,000 as compared to backlog on June 30, 2010.
Jim Gaynor, President and CEO of LightPath, stated, "We have
continued to make progress in penetrating our new high volume
markets. In this quarter we set a new unit volume production record
by producing over 450,000 lenses for our customers. We also used
cash to purchase capital equipment in order to expand our
production capacity. Backlog and revenue both increased as compared
to last year, but our customers remain cautious and are keeping
inventories tight. We are seeing slow improvement in our markets
but conditions remain difficult."
Gaynor continued, "During the past 3 to 6 months we have
introduced 11 new catalog lenses and over 25 custom designed
lenses. As we continue to transition our business to new markets
and bring on new customers with new products over the long term we
anticipate strong top and bottom line growth and continued
enhancement of shareholder value."
LightPath will host a conference call to discuss the Company's
financial and operational results for the second quarter of fiscal
2011. Details of the call are as follows:
Date: Thursday, February 3, 2011 Time: 4:00 p.m. (EST) Dial-in
Number: 1-877-407-8033 International Dial-in Number: 1-201-689-8033
Webcast available at Precision IR: www.precisionir.com
Participants are recommended to dial-in approximately 5 to 10
minutes prior to the start of the call. A replay of the call will
be available approximately three hours after completion through
February 10, 2011. To listen to the replay, dial 1-877-660-6853
(within the U.S.) and 1-201-612-7415 (international calls), and
enter account # 286 and conference ID # 366316.
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 & measurement and
telecommunications. LightPath has a strong patent portfolio that
has been granted or licensed to us 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, the Company does 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.
Contact: Dorothy Cipolla CFO LightPath Technologies, Inc.
Tel: 407-382-4003 x305 Email: dcipolla@lightpath.com Web:
www.lightpath.com
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