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[Loewe2004]

LightPath Technologies, Inc. Announces Third Quarter Fiscal 2005 Financial Results
THURSDAY, MAY 05, 2005 1:17 PM
- PR Newswire
ORLANDO, Fla., May 5, 2005 /PRNewswire-FirstCall via COMTEX/ -- LightPath Technologies, Inc. (LPTH) , a manufacturer and integrator of families of precision molded aspheric optics, GRADIUM(R) glass products, high-performance fiber- optic collimators and isolators, today announced financial results for its fiscal 2005 third quarter and nine months ended March 31, 2005. Compared to the same periods in the prior year, sales increased by 57% to $3.07 million for the third fiscal quarter, and by 68% to $9.33 million for the nine-month period. This sales growth coupled with operating expense reductions are the primary drivers of reduced cash use and reduced reported losses. Our Disclosure Backlog, as defined in our Annual Report on Form 10-K for June 30, 2004, was $2.49 million at March 31, 2005, compared to $2.8 1million at the same date in the prior year and $2.98 million at December 31, 2004.

Financial Quick Reference

(In Millions, except for Three Months Ended Nine Months Ended
per share data) March 31, March 31,
2005 2004 2005 2004
Unaudited
Total revenues $3.07 $1.95 $9.33 $5.56
Total costs and expenses $3.38 $3.02 $12.11 $9.99
Net loss $(0.31) $(1.07) $(2.78) $(4.43)
Net loss per share $(0.09) $(0.37) $(0.85) $(1.64)
Increase/(Decrease) in
cash and cash equivalents $(0.38) $1.00 $(1.05) $(0.42)

March 31, December 31, June 30,
2005 2004 2004
(In Millions)
Cash and cash equivalents $1.48 $1.85 $2.53


Detailed comments about the third quarter of fiscal 2005: For the quarter ended March 31, 2005, the Company reported total revenues of $3.07 million compared to $1.95 million for the same quarter of the previous fiscal year, an increase of 57%. Net loss for the quarter was $0.31 million, or $0.09 per share. Our gross margin percentage in the third quarter is higher, at 26%, by nine points than in the comparable quarter in the prior year when it was about 17%. While we are seeing improved margins from better utilization of our manufacturing plant and from higher volumes of product sales, our efforts to improve margins remain a principal focus. SG&A expenses were reduced from $1.39 million last year to $0.83 million in this most recent quarter, largely due to reductions in amortization, compensation, legal and insurance costs. New product development expenses were essentially level at $0.22 million compared to last year`s third quarter when it was $0.24 million, a result of slightly higher personnel costs offset by lower consumable material costs. A notable improvement in our statement of operations in the current quarter includes amortization expense for intangible assets of only $38 thousand compared to approximately $466 thousand in the same quarter of the prior year, as a result of a portion of identifiable intangibles becoming fully amortized in prior quarters. Remaining amortization amounts from our intangible assets that are subject to periodic amortization will be relatively modest at current quarter levels or lower.

Detailed comments about the nine months of fiscal 2005: For the nine months ended March 31, 2005, the Company reported total revenues of $9.33 million compared to $5.56 million for the same nine months of the previous fiscal year, an increase of 68%. Net loss for the nine months of fiscal 2005 was $2.78 million, or $0.85 per share, an improvement over the loss in last year`s comparable first nine months of $4.43 million or $1.64 per share. Gross margin increased $0.82 million and the percent was slightly higher increasing to 21% from 20% in the comparable prior period. As previously reported in our second quarter press release, we incurred a materials scrap adjustment in the nine months of this fiscal year of $265,000 and a $69,000 charge in the comparable period of last year for an intellectual property dispute. While we have seen notable margin improvement in the past two and one-half years, through improving volumes that have increased plant utilization rates, we still have the challenge of improving our process yields to improve margins while sustaining our recent unit growth levels. SG&A expenses were reduced from $4.10 million last year to $3.29 million in this most recent nine months due to reductions in compensation, insurance, investor relations and legal costs. New Product Development expenses increased from $0.70 million last year to $0.75 million in the nine months of 2005. As our product volumes have increased we have found it necessary to add staff to our optical engineering group to better serve our higher volumes of business, which often require engineering input to the sales effort. Lastly, the Company settled a lawsuit for $70,000 in the nine months of 2005 that is included in the overall loss for the period.

Cash Status: For the quarter ended March 31, 2005, net cash declined by $0.38 million vs. an increase of $1.00 million in the same period of the prior year. Cash was bolstered in the prior year by both the sale of common stock (netting $1.89 million and a settlement of litigation, netting $0.61 million). As we have noted in prior reports, higher sales levels have generally reduced our use of cash from period to period and reduced our loss levels. Management`s objective is to stay on a course of increasing sales with a continuing focus on managing costs to reach our goal of becoming self- sustaining by achieving cash flow breakeven from operations.

Comments: Ken Brizel, President and CEO of LightPath, stated,

[Loewe2004]

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LIGHTPATH TECHNOLOGIES, INC. Aktueller Kurs (Frankfurt, 10.05.2005 09:08)
Letzter Kurs: 1,85 WKN: 776051 Branche: Telekommunikation
Veränd. abs.: +0,310 Symbol: LPZB Land: USA
Veränd. in %: +20,13 % ISIN: US5322578056

[Spirou73]

Erinnert mich irgendwie an die schoenen dot-com zeiten.
Da musste die klitsche nur den umsatz steigern, dafür je schneller desto besser, der verlust wurde auch grad proportional gesteigert ...und der kurs explodiert förmlich!