LightPath Technologies Signs a Multi-Year Agreement Exceeding $1 Million.
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LightPath Technologies has signed a multi-year sales agreement with a Chinese
industrial tool manufacturer.
(January 10, 2008) Orlando, FL. LightPath Technologies, Inc. (Nasdaq: LPTH - News),
LightPath Technologies is pleased to announce its subsidiary, LightPath Optical
Instrumentation (Shanghai) Co., Ltd., has signed a three year agreement with a Chinese
industrial tool manufacturer for the sale of custom precision aspheric lenses at an
aggregate sales price in excess of $1 million dollars. This agreement represents a
significant step towards the fulfillment of LightPath's business strategy to broaden its market opportunities into high volume, lower cost applications.
According to Jim Gaynor, Interim CEO, "This is LightPath's second contract in high
volume low cost asphere applications. These contracts mark LightPath's direct entry into the Asian market. We are able to capture this business as a direct result of the cost reduction initiatives we have recently implemented and the capacity expansion that we have completed in our Shanghai factory."
LightPath manufactures optical products including precision molded aspheric optics,
precision molded infrared optics, GRADIUM® glass products, proprietary collimator
assemblies, isolators utilizing proprietary automation technology, higher-level assemblies and packing solutions. LightPath has a strong patent portfolio that has been granted or licensed to us in these fields. LightPath common stock trades on the NASDAQ Capital Market under the symbol "LPTH." Investors are encouraged to go to LightPath's website for additional financial information.
Contact:
James Magos,
Corporate Vice President,
Sales & Marketing
LightPath Technologies, Inc.
Phone: (407) 382-4003
Email: jmagos@lightpath.com
Internet: www.lightpath.com
