LightPath Technologies Announces Preliminary First Quarter Fiscal 2012 Results
25 Octubre 2011 - 7:30AM
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 first quarter ended
September 30, 2011.
The Company reported preliminary revenue of $2.73 million for
the first quarter of fiscal 2012, an increase of 21%, as compared
to $2.25 million for the same period last year.
Cash on hand as of September 30, 2011 was $0.69 million as
compared to $0.93 million on June 30, 2011. Backlog scheduled to
ship within the next 12 months was $4.20 million as of September
30, 2011, an increase of $1.02 million as compared to backlog on
September 30, 2010 and a $330,000 increase as compared to June 30,
2011.
Jim Gaynor, President and CEO of LightPath, stated, "Economic
conditions affecting some of the markets we serve had an effect on
our quarterly revenue. In particular, such conditions have affected
the telecom market and caused our telecom customers to delay new
orders. Also, the Chinese government has continued its tight
monetary policy in an effort to slow expansion of the economy and
reduce inflation. As a result, construction in China has slowed
which negatively impacted our industrial tool market in China.
These issues resulted in a reduction of anticipated quarterly
revenue from our telecom and industrial tools customers. By taking
advantage of our diversified markets and customer base, we were
able to offset this revenue loss with increases in revenues from
our defense and industrial customers particularly with our
collimator and custom optics lines. The first quarter of fiscal
2012 was our third consecutive quarter of bookings greater than $3
million and also the third consecutive quarter of bookings higher
than the previous quarter."
Mr. Gaynor continued, "We continue to focus on increasing our
revenue. This past quarter, we achieved our highest first fiscal
quarter revenue level since 2007. As we look forward, we believe we
have positioned the Company for continued growth and are excited by
the opportunities available to us."
LightPath will host a conference call to discuss the Company's
financial and operational results for the first quarter ended
September 30, 2011. Details of the call are as follows:
Date: Thursday, November 10, 2011 Time: 4:00 PM (ET) 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,
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 # 381927.
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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