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

To: robert packman who wrote (388)	3/27/1998 2:45:00 PM
From: robert packman	Read Replies (1) \| Respond to of 1219

ALBUQUERQUE, N.M., March 25 (Reuters) - LightPath Technologies Inc. Chief Executive Officer Leslie Danziger said Wednesday the lens and glass maker expects the third quarter launch of new telecommunications products to significantlyincrease revenues. The commercial launch of the fiber-optic telephone systems products comes as part of the company's drive toward achieving profitability, Danziger said. "The telecommunications products will be on the market by the third quarter...we expect a significant impact on revenues," Danziger told Reuters in a telephone interview. In its two years as a public company, LighPath has yet to turn a profit. For the first six months of its financial year ending June, the company posted a net loss of $2.50 million or $0.88 per basic share compared with a loss of $1.70 million or $0.62 per basic share for the year earlier period. Danziger said the company expects to begin marketing its GRADIUM lenses to commercial satellite makers in May, and that the company is between 65 percent and 75 percent of the way toward achieving a "critical mass" as a commercial company. "Profitability is our primary goal and we are driving toward that as fast as possible," Danziger said. Danziger declined to comment further on the company'sfinancial outlook. Around half of LightPath's $674,000 in 1997 revenues came from contracts to develop lenses for customers such as the U.S. government, Danzig said. The remainder came from lens sales. The former research and development company cut its commerical teeth in the industrial laser market, providing lenses for bar code reading, wafer chip inspection, audio and video compact disc machines and robotics. Danzig said LightPath is ramping up revenues by shifting from development contracts to increased sales of lenses and products that include GRADIUM glass products. Lightpath is designing and marketing energy systems for satellites that consist of a lens and energy cells to convert sunlight into electricity. The company intends to market the power systems to satellite makers such as Hughes Electronics Corp, Boeing Co Lockheed Martin Corp . "We went...from government contracts then to lenses and now we're going to actual product sales that incorporate gradium lenses,' Danzig said. "We're going up the value chain." GRADIUM lenses can be dime-sized or as big as a tea-saucer. They collect and concentrate light and separate wavelengths ofhigh-speed data. Danziger said LightPath is focusing on developing lenses and glass products for markets with high profit margins. The company has identified telecommunications and solar energy assuch markets. "There's a billion dollar solar energy market right now...its growing at 20 percent a year," Danziger said. LightPath's lenses can be used to generate power for telecommunications and other systems in areas where there is no mains electricity. The company also sees an increased interest in solar power with utilities deregulation in the UnitedStates. "We're not a research and development company, we want to be profitable as soon as possible," Danziger said.