ORLANDO, Fla., Jan. 16, 2013 — Through an R&D initiative, LightPath Technologies Inc. has reduced its infrared lens manufacturing costs by 30 percent, according to a quarterly update provided to shareholders on Monday.
To support growth in its thermal imaging business, LightPath has implemented several cost-reduction programs, while simultaneously expanding the manufacturing capacity of its facility. Plans to cultivate infrared manufacturing growth were made in late October. (See: LightPath Updates Shareholders on IR Initiative
During the past quarter, work remained focused on molding yield improvement, expanded preform capability and work station layout, and the company is on track to achieve its expected cost targets. LightPath also has deployed new polishing equipment that increases the capacity of its glass-preparation facility by 80 percent in anticipation of orders in the second half of fiscal 2013. The company has already begun delivering production units to several new OEM customers.
“We are continuing to expand our thermal imaging business with OEM customers and see additional opportunities as we introduce additional quantum cascade laser lenses,” said President and CEO Jim Gaynor. The lenses, which will be on display at SPIE Photonics West in February, are suitable for a variety of applications, including infrared countermeasures, gas analysis and spectroscopy.
For more information, visit: www.lightpath.com