LightPath Technologies, Inc. (NASDAQ: LPTH) is a recognized leader in optics and photonics solutions, serving blue chip customers in the industrial, defense, telecommunications, testing and measurement, and medical industries for over a quarter of a century. The company designs, manufactures and distributes a full range of optical and infrared (IR) components for direct sale to customers throughout North America and China, as well as through distributors and channel partners in Europe and the United States. LightPath’s current product offerings include molded glass aspheric lenses and assemblies, IR lenses and thermal imaging assemblies, fused fiber collimators and gradient index GRADIUM® lenses.
In recent weeks, LightPath has taken strides toward expanding its market share through the continued development and commercialization of its innovative IR product line. The potential applications for the company’s IR technology are plentiful – including small hand-held cameras for thermography, maintenance and security applications, in-process quality assurance monitoring, and medical sensing devices. In June, LightPath highlighted one pivotal application when it partnered with a leading supplier of integrated products and technologies to supply its proprietary IR molded optics for use in the manufacture of firefighting thermal imaging cameras. In total, the company’s IR products currently account for more than 10 percent of its consolidated annualized revenues.
“We are extremely excited by the growth in market opportunities of our infrared product line,” Jim Gaynor, president and chief executive offer of LightPath, stated in a news release. “The launch of our proprietary infrared product technologies positions us to participate in an estimated $3.5 billion global market… that will contribute to revenue growth for LightPath.”
During its fiscal quarter ending March 31, 2015, LightPath provided prospective investors with a preview of its massive market potential by posting strong financial results. In addition to recording a 193 percent year-over-year increase in revenue from the sales of IR products, the company realized a six percent year-over-year rise in overall revenue. These results helped LightPath record a net income for the period of approximately $90,000.
“We had an excellent fiscal 2015 third quarter that reflects the actions taken in the first half of the year to accelerate sales and improve our operating efficiency,” continued Gaynor. “We are benefitting from growth in both our precision molded optic product line and infrared product line and operational efficiencies to drive improved profitability.”
With growing demand for its IR product line leading the way, LightPath is in a strong strategic position to build upon its industry presence moving forward. For potential investors, the company’s recent financial growth could foreshadow an opportunity to capitalize on sustainable returns in the years to come.
For more information, visit www.lightpath.com
