Orlando, FL--LightPath Technologies (NASDAQ: LPTH) has announced preliminary financial results for its fourth quarter ended June 30, 2010. LightPath is a manufacturer, distributor, and integrator of optical components and assemblies.
The company reported preliminary revenue of $2.8 million for the fourth quarter of fiscal 2010, an increase of 75% as compared to $1.6 million for the same period of fiscal 2009. Cash as of June 30, 2010 was $1.5 million as compared to $580,000 on June 30, 2009. Backlog scheduled to ship within the next 12 months was $2.9 million as of June 30, 2010, an increase of $671,000 as compared to backlog on June 30, 2009. This adds to the good news reported earlier this month for other players in the photonics industry.
Fourth consecutive quarter of revenue growth
"The fourth quarter of fiscal 2010 represents the fourth consecutive quarter of improving revenues for our Company," said Jim Gaynor, president and CEO of LightPath. "Despite an uncertain economy, we continued to maintain strong quote activity during the quarter, with the number of quotes provided in the fourth quarter of fiscal 2010 increasing 3% as compared to the immediately preceding quarter. Our expertise in optical design engineering has enabled us to serve a diversified customer base, leading to new and repeat business."
"LightPath is continuing its transition from a low volume niche market supplier to a high volume manufacturer of optical components," added Gaynor. "With our low cost structure and recent release of several families of new lenses, we are positioned to enter larger, global markets not previously available to us. In the short term, we remain cautiously optimistic. We may experience a slight softening as we transition to new markets, qualify our products with new customers, and encounter the normal seasonal slowdown with our existing customers. Over the long term, we anticipate strong top- and bottom-line growth and the continued enhancement of shareholder value."
LightPath will host a conference call to discuss the company's financial and operational results for the fourth quarter of fiscal 2010. Details of the call are as follows:
The call will be held at 4 pm EDT on Thursday, September 16, 2010
The dial-in number will be 1-877-407-8033, and the international dial-in number will be 1-201-689-8033. Participants are recommended to dial in 5 to 10 minutes before the start of the call. The webcast will be available at Precision IR: www.precisionir.com
A replay of the call will be available about three hours after completion through September 23, 2010. 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 # 355799.
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 and measurement, and telecommunications. LightPath has a strong patent portfolio. For more information, visit www.lightpath.com.

John Wallace | Senior Technical Editor (1998-2022)
John Wallace was with Laser Focus World for nearly 25 years, retiring in late June 2022. He obtained a bachelor's degree in mechanical engineering and physics at Rutgers University and a master's in optical engineering at the University of Rochester. Before becoming an editor, John worked as an engineer at RCA, Exxon, Eastman Kodak, and GCA Corporation.