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


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

rss feed

Latest Stories

article imageLong-term Relationships and Credit Scores

Unlike many commentators, I tend to think credit scores are a good read on...

article imageIn Defense Of Rolling Return Charts

Robeco’s Lukas Daalder has a bit of an issue with rolling-performance graphics. Bashing a recent chart of read on...

article imageThe S&P 500’s Worrisome Downturn In Drawdown

Last Friday I reviewed some of the bearish signals that were casting dark shadows across the US stock read on...

article imageADP: Private-Sector Employment Rises A Solid 200k In September

The pace of growth for private-sector employment picked up in September, according to this morning’s ADP read on...

Popular Articles

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.