LightPath reports 350% increase in revenues

LightPath reports 350% increase in revenues

LightPath Technologies Inc. (Albuquerque, NM) reported revenues of $380,959 for the third quarter of FY1997 (ended March 31), u𨗦% from the $84,472 reported for the same period in FY1996. Losses for the quarter were $651,105, down 6% from third-quarter 1996. The company attributed the increased revenue to $244,000 in licensing and product-development fees, with an additional $53,000 in sales of Gradium gradient index lenses. In a move to establish a presence in the data-communications market, LightPath recently allied with Eagle Optoelectronics Inc. (Boulder, CO) to develo¥an economical wavelength-division-multiplexing component for local-area networks.