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Technology Stocks : Lightpath Technologies: LPTH New WDM player -- Ignore unavailable to you. Want to Upgrade?

To: robert_zohnson-2 who wrote (849)	4/18/2000 7:42:00 PM
From: Sir Auric Goldfinger	Read Replies (2) \| Respond to of 1219

From S-3, Co. estimates "Our first passive optoelectronic product, a single mode fiber collimator assembly, or SMF assembly, was demonstrated in February 1998. The SMF assembly is a key element in all fiber optic systems, including WDM equipment. The SMF assembly straighten and make parallel, diverging light as it exits a fiber. Beginning in fiscal 1999, we began offering, and have delivered for testing to potential customers, three product levels, the collimating lens,the SMF assembly and the large beam collimating assembly. The telecommunications collimator marketplace is currently estimated by industry experts to generate annual gross revenues of $125 million in 1999 with projected growth to $256 million in five years. Food for thought: right now LPTHA had $1.19 M of revenues all in for the last 12 months. Assuming all of it's revenue was in the above category (I don't think it was) they would own less than a percent (1%) of the current market which by their own estimates is growing 38% per anum. Given that they LOST $3.69 M on those $1.19 M of revenues, they've got some serious work to do. Currently LPTHA's market cap is $310 M (not counting the warrants) which is 2.5X the entire revenues of the INDUSTRY right now and 1.2 X the revenues of the INDUSTRY in five years! Now if we take LPTHA's revs, this unprofitable Co. is presently selling at 105X revenues and has a NEGATIVE p/e of 84 X (not fully diluted). You venture capitalists really know what you're doing here? Anybody care to go through the math? ASPs? etc? Nah didn't think so. Guess I'll just provide the info for the lurkers. More to come.......