Contact Information: Contacts: Ray Pini Director of Marketing LightPath Technologies, Inc. Phone: 407-382-4003 x336 Email: Internet: www.lightpath.com
LightPath Technologies Sees Increasing Demand and Revenue From Aspheres for Industrial Laser Tools
Based on Customer Feedback on LightPath Technologies' Shipments of Molded Aspheric Lenses to Multiple Large OEM Manufacturers, LightPath Is Seeing Growth in Its Strategic Consumer and Industrial Laser Tools Market Segment
| Source: LightPath Technologies
ORLANDO, FL--(Marketwire - February 16, 2010) - LightPath Technologies, Inc. (NASDAQ : LPTH ), is
seeing increasing demand in the strategic market of molded aspheres for
consumer and industrial laser tools. Current open orders for these products
are valued over $1.8M with more than 25% growth anticipated over the next
several quarters. After a year of volume production shipments to multiple
OEM manufacturers, the acceptance of molded aspheres as a replacement for
spherical doublets and triplets has surpassed LightPath's initial
expectations. Molded aspheric lenses are being adopted because they
provide a cost savings and are easier to assemble over traditional high
volume spherical doublet and triplet lenses without sacrificing
performance.
Jim Gaynor, the CEO of LightPath Technologies, commented, "The success of
our laser tool line of aspheric lenses is a demonstration of our
capabilities in providing a low cost platform for the manufacture of high
precision glass molded aspheric lenses. We are currently providing lenses
to four major OEM producers and several smaller manufacturers and have been
qualified by a fifth major OEM. We anticipate continued growth in this
multi-million dollar market segment going forward and continued production
increases over the next several quarters."
Mr. Gaynor continued, "LightPath Technologies has been successful in its
continuing strategy of improving its cost structure and capturing high
volume lens applications. The increasing acceptance of our lenses in the
industrial laser tools market segment shows the value in LightPath's
improved manufacturing methods and an increased presence in the Asian
markets."
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. LightPath has a strong patent portfolio
that has been granted or licensed to us in these fields. LightPath common
stock trades on the Nasdaq Capital Market under the stock symbol LPTH. 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.