logo
  Join        Login             Stock Quote

Lightpath Technologies (LPTH) Receives Lenses Deliveries Contract from Digital Camera Maker

 November 29, 2012 11:53 AM


(By Balaseshan) LightPath Technologies Inc. (NASDAQ: LPTH) said it has received a contract from a "leading" global digital camera manufacturer for lenses.

LightPath entered into a supply agreement with a leading global manufacturer of high-end, digital video recording and playback equipment with an initial stocking order of approximately $1.1 million.

Under the terms of this agreement, LightPath will begin deliveries of lenses to this new customer beginning in the first calendar quarter of 2013.

"The investments we made in designing optics for the digital imaging and projection market have resulted in an outstanding product line that is now being adopted by top players in this market," said Jim Gaynor, CEO of LightPath.

The company said digital imaging applications with capabilities that enable digital resolution in excess of 4X HD quality are just now beginning to proliferate through the video production market, and LightPath's products and technology are well-positioned to participate in this area of rapid growth.

These high tech optics are a critical element in high performance camera and digital projection systems and the company's ability to win new business like this validates the price, performance and quality of its optics in a competitive and highly technical marketplace.

Expanding into new areas is one key element of LightPath's growth plan and shows the continued progress the company has made in its strategy to become a leading global supplier of molded glass optics and assemblies that serve a diverse group of end-markets and applications.

"Our goal is to lead both the technology and price-to-performance curves, and I believe this is a good indication of our successful penetration of a market that is expected to grow to $770 million by 2018," said Jim Gaynor.

LPTH is trading up 17.20 percent at $1.09 on Thursday. The stock has been trading between $0.82 and $2.20 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageQihoo 360 Technology Co Ltd. (QIHU) Q2 Earnings Preview: A Green Monday

Qihoo 360 Technology Co Ltd. (NYSE:QIHU) will report its second quarter 2014 financial results on Monday, read on...

article imageSix Stocks that Could Outperform in the next 90 days

Earlier today, Goldman Sachs put out its list of the 50 stocks that Matter Most. It’s a list of the 50 read on...

article imageFoot Locker, Inc. (FL) Q2 Earnings Preview: Running Past the Street View

Foot Locker, Inc. (NYSE:FL) plans to report financial results for its second quarter ended August 2, 2014 read on...

article imageRoss Stores, Inc. (ROST) Q2 Earnings Preview: Could Be Better Than Expected

Ross Stores, Inc. (NASDAQ:ROST) will announce its second quarter 2014 earnings results on Thursday, August read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

Recent Articles by Balaseshan
More Articles on: Computer and Technology , Consumer Disretionary



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.