LightPath Caps ‘Year of Investment’
LightPath Technologies Inc. closed the books June 30 on fiscal 2014 with a net loss of $313,000 following what it called “a year of investment in our future.”
The loss compared with net income of $215,000 in fiscal 2013. Fourth-quarter net income was $102,000, compared to net loss of $244,000 in the fourth quarter of fiscal 2013.
Revenue for fiscal 2014 was $11.83 million, essentially unchanged from the previous year.
CEO Jim Gaynor said the company increased research and development spending by 29 percent and invested $2 million in expanding manufacturing and buying new equipment. The company said it nearly doubled production capacity, from 3.2 million lenses in fiscal 2013 to 6.2 million in fiscal 2014.
LightPath has completed prototype development and production of its new line of IR lenses. It has begun full commercial production at its Orlando facility and expects to begin shipping products this month.
Meanwhile, production has begun at a subsidiary facility located in Zhenjiang, China, producing approximately 100,000 aspheric optical lenses at greater than 96 percent yield.
LightPath manufactures molded aspheric optics, glass products, collimator assemblies and automated laser components for industrial, medical, defense, test and measurement and telecommunications applications.
For more information, visit
www.lightpath.com.
LATEST NEWS
- Exail Signs LLNL Contract, Partners with Eelume
Apr 26, 2024
- Menlo Moves U.S. HQ: Week in Brief: 4/26/2024
Apr 26, 2024
- Optofluidics Platform Keys Label-, Amplification-Free Rapid Diagnostic Tool
Apr 25, 2024
- DUV Lasers Made with Nonlinear Crystals Enhance Lithography Performance
Apr 25, 2024
- Teledyne e2v, Airy3D Collaborate on 3D Vision Solutions
Apr 24, 2024
- One-Step Hologram Generation Speeds 3D Display Creation
Apr 24, 2024
- Innovation Award Winners for Laser Technology Honored in Aachen
Apr 23, 2024
- Intech 2024: AI Arrives on the Shop Floor
Apr 22, 2024