ORLANDO, Fla., Feb. 2, 2012 /PRNewswire/ -- LightPath
Technologies, Inc. (NASDAQ: LPTH) (the "Company", "LightPath" or
"we"), a global manufacturer, distributor and integrator of
proprietary optical components and assemblies, announced today its
preliminary financial results for the second quarter ended
December 31, 2011.
(Logo: http://photos.prnewswire.com/prnh/20120202/FL45310LOGO
)
The Company reported preliminary revenue of $2.67 million for the second quarter of fiscal
2012, an increase of 6%, as compared to $2.53 million for the same period last year.
Cash on hand as of December 31,
2011 was approximately $600,000 as compared to approximately
$930,000 on June 30, 2011. Backlog scheduled to ship within
the next 12 months was $3.83 million
as of December 31, 2011, an increase
of approximately $554,000 as compared
to backlog on December 31, 2010 and a
$46,000 decrease as compared to
June 30, 2011.
Jim Gaynor, President and Chief
Executive Officer of LightPath, stated, "We were able to grow our
revenues even though some of our markets continued to be weak
during this quarter, industrial tools showed a slight improvement
but overall remained soft, telecom remained weak with the impact of
the Thailand flooding being felt
and several customers delayed bookings in an effort to control
inventory levels at year end. Our market diversity has allowed us
to continue to grow our revenue with strength in our custom optics
and collimator lines."
Mr. Gaynor continued, "Our focus remains to grow our revenue and
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 second quarter ended
December 31, 2011. Details of the
call are as follows:
Date: Thursday, February 9,
2012
Time: 4:00 PM (ET)
Dial-in Number: 1-877-317-6789
International Dial-in Number: 1-412-317-6789
Webcast http://www.videonewswire.com/event.asp?id=84974
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 one hour after completion through,
February 16, 2012. To listen to the
replay, dial 1-877-344-7529 (within the U.S.) and 1-412-317-1088
(international calls), and enter conference ID # 10009790.
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:
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Dorothy
Cipolla, CFO
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LightPath
Technologies, Inc.
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Tel:
407-382-4003 x305
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Email:
dcipolla@lightpath.com
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Web:
www.lightpath.com
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SOURCE LightPath Technologies, Inc.