Lightpath Technologies Inc Stock Price, News & Analysis

LightPath Technologies (NASDAQ: LPTH) announces preliminary financial results for Q4 and fiscal year ended June 30, 2021. The company expects Q4 revenues between $8.0 million and $8.3 million, down from $9.1 million in Q4 2020, while total revenues for the fiscal year are projected to be $38.2 million to $38.5 million, an increase from $35.0 million in FY 2020. Notably, cash reserves rose to $6.8 million. However, challenges in the telecommunications sector, particularly in China, may impact future performance. A full financial report is expected in early September.

LightPath Technologies (NASDAQ:LPTH) announces a collaboration with RP Optical Lab Ltd. to develop thermal imaging cameras utilizing its BD6 material for space applications. Funded by Space Florida and Israel's Innovation Authority, this project aims to enhance BD6's compliance with space radiation requirements. CEO Sam Rubin noted increasing demand for optics in satellite applications, aligning with the surge in satellite launches. The joint effort aims to accelerate the development of a broadband satellite imaging system, reflecting the growing commercial potential in space technologies.

LightPath Technologies has secured a multiyear supply agreement worth over $2.4 million, reflecting a 50% increase from the previous contract. This agreement involves the supply of glass aspheres used by a global engineering firm to produce precision measurement and motion control devices across sectors such as aerospace, automotive, and healthcare. The Company emphasizes a strong demand for its optical products, showcasing its ability to provide high-quality solutions at scale.

LightPath Technologies (NASDAQ: LPTH) has appointed Louis Leeburg as the new Chairman of the Board following the retirement of Robert Ripp effective May 11, 2021. Leeburg, who has been a director since 1996, aims to transition the company from providing optical components to offering comprehensive engineered solutions, enhancing its strategic position in the global photonics industry. CEO Sam Rubin expressed confidence in the new leadership structure, emphasizing its potential for long-term profitable growth.

LightPath Technologies (LPTH) reported a record revenue of $10.7 million for Q3 FY2021, marking a 23% increase year-over-year. The first nine months brought in $30.1 million, up 17% from the previous year. Despite revenue growth, the company faced a net loss of $223,000 in Q3 and $272,000 for the first nine months, a decline from the net income of $816,000 and $210,000 respectively in the prior year. Gross margin contracted to 36% in Q3 due to inefficiencies in new product lines, reflecting operational challenges as the company adjusts to increased production demands.

LightPath Technologies, Inc. (NASDAQ:LPTH) announced the retirement of Chairman Robert Ripp, effective May 11, 2021. Ripp has served on the Board for 22 years and played a crucial role in hiring CEO Sam Rubin, who has been leading the company through strategic changes and global expansion. Ripp's retirement aligns with new governance policies, including a formal retirement age for directors. CEO Rubin and Board member Louis Leeburg praised Ripp's leadership and commitment to shareholder value, emphasizing the company's innovative capabilities and growth trajectory.

LightPath Technologies (NASDAQ: LPTH) announced the appointment of Peter Greif as Vice President of Operations, effective April 30, 2021. Greif, with over 17 years of experience at Jabil Inc., will enhance operational performance and profitability. His role involves managing high-volume manufacturing, aligning sales and engineering teams to foster growth. This leadership change aims to strengthen LightPath's operational excellence, crucial for their global expansion strategy.

LightPath Technologies (NASDAQ:LPTH) announced key management appointments aimed at enhancing revenue growth and global manufacturing capabilities. Donald Retreage will retire as CFO on May 7, 2021, succeeded by Albert Miranda, a strategic leader with a background in photonic technology. Joseph Huang has been appointed General Manager for operations in China. These changes reflect LightPath's commitment to accelerating its growth and improving its optical and infrared product offerings.

LightPath Technologies (NASDAQ: LPTH) has announced the date for its fiscal 2021 third-quarter financial results, set for May 6, 2021, after market close. The company will host a conference call at 4:30 PM ET, providing insights into its financial performance. Investors can access the call via dial-in or webcast, with details available for replay. LightPath is a global provider of optics and photonics solutions across several industries, including commercial and defense sectors. The press release emphasizes the company’s focus on proprietary optical components and outlines logistics for the upcoming announcement.