LightPath Technologies Announces $13.7M Order for Micro-Optic Assemblies
ALBUQUERQUE, N.M., Jan 11, 2001 /PRNewswire via COMTEX/ -- LightPath
Technologies, Inc. (Nasdaq: LPTH), manufacturer of families of high performance
fiber optic components for the telecom industry, today announced that its
wholly-owned subsidiary, Horizon Photonics, Inc., has received a $13.7M order
for proprietary micro-optic assemblies from a leading manufacturer of telecom
systems. The order calls for Horizon to deliver over $10M in product during the
first six months of 2001.
Bob Cullen, President of Horizon Photonics, commented, "This is the reward for
designing next-generation OEM components for automation. Horizon's manufacturing
platforms are now fully qualified and completely scalable for the ramping
demands of our customers."
LightPath manufactures proprietary collimator assemblies, GRADIUM(R) glass
products and other optical telecommunications products at its headquarters in
Albuquerque. The Company's subsidiaries, Horizon Photonics and Geltech,
manufacture isolator products utilizing proprietary automation technology in
Walnut, California, and precision molded aspherical optics used in the active
telecom components market in Orlando, Florida and Auburn, California.
Additionally, Geltech has a unique and proprietary line of all-glass diffraction
gratings (StableSil(R)) for telecom applications as well as a product family of
Sol-Gel based waveguides. The Company also has an office in Warren, New Jersey
for the purpose of developing various optical switch products. The Company has
46 U.S. patents, plus 8 more pending, associated with its optical technologies.
In addition, various foreign countries have issued a total of 18 patents with 28
patents pending. LightPath common stock trades on the Nasdaq National Market
under the stock symbol LPTH.
For further information, please contact Donald E. Lawson, President & CEO of
LightPath, or Donna Bogue, CFO of LightPath; LightPath Technologies, Inc., (505)
342-1100, Internet: www.lightpath.com.
This news release includes statements that may constitute forward-looking
statements made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. This information may involve risks and
uncertainties that could cause actual results to differ materially from such
forward-looking statements. Factors that could cause or contribute to such
differences include, but are not limited to, factors detailed by LightPath
Technologies, Inc. in its public filings with the Securities and Exchange
Commission.
SOURCE LightPath Technologies, Inc.
CONTACT: Donald E. Lawson, President & CEO, or Donna Bogue, CFO, both of
LightPath Technologies, Inc., 505-342-1100 |
