ORLANDO, Fla., May 15, 2012 /PRNewswire/ -- LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath", the "Company" or "we"), a global manufacturer, distributor and integrator of patented optical components and high-level assemblies, announced today that it has engaged Hayden IR, a respected national investor relations firm, to develop and implement a strategic investor relations program to raise its visibility and strengthen its relationships with the investment community.
Jim Gaynor, President and Chief Executive Officer of LightPath, commented, "LightPath is at an exciting inflection point, and we believe the timing is appropriate to increase investor awareness and discuss our opportunities with new investors. The technology and manufacturing expertise we've developed has given us an exciting platform for growth for our core precision-molded optics business as well as a compelling, incremental opportunity in the infrared space. With precision molded optics generating double-digit annual growth at the top-line and now approaching profitability and favorable economies of scale, the explosive growth we see ahead in our new infrared offerings have the potential to approximately double our business in the next three years. With this transformation underway, we felt this was an appropriate time to engage Hayden IR to help us articulate our new value proposition to potential investors."
With offices in New York, Phoenix, Minneapolis and Seattle, Hayden IR provides a comprehensive range of investor relations services to a growing list of clients. For more than a decade, Hayden IR has been a recognized leader in driving market recognition and creating sustainable competitive advantages for more than 200 micro- and small-cap companies. Hayden delivers expertise and professionalism in such areas as investor management, relationship building, awareness campaigns, online presence and corporate identity.
Peter Seltzberg, Regional VP in Hayden IR's New York City office, added, "LightPath has an exciting technology platform that is well-positioned for growth through layering opportunities in the infrared space atop their sustainable precision-molded optics business, all with minimal incremental expenses. The previously announced major infrared development contract with Raytheon Vision Systems is a significant step forward for LightPath and underscores the appeal of the company's new infrared products and optics solutions. The team at Hayden IR believes that the company appears to be on track to offer attractive returns to investors who seek to participate in the proliferation of emerging technologies and the dynamics of an attractive, large market opportunity. We look forward to introducing LightPath to all the key audiences within the investment community."
About LightPath Technologies
LightPath manufactures optical products including precision molded aspheric optics, GRADIUM® glass products, proprietary collimator assemblies, laser components utilizing proprietary automation technology, higher-level assemblies and packing solutions. The Company's products are used in various markets, including industrial, medical, defense, test and measurement and telecommunications. LightPath has a strong patent portfolio that has been granted or licensed to it in these fields. For more information visit www.lightpath.com.
This news release includes statements that constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding our ability to expand our presence in certain markets, future sales growth, continuing reductions in cash usage and implementation of new distribution channels. This information may involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, factors detailed by LightPath Technologies, Inc. in its public filings with the Securities and Exchange Commission. Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, we do not have any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
LightPath Technologies, Inc.
President & CEO
Dorothy Cipolla, CFO
+1 (407) 382-4003
Peter Seltzberg, Regional Vice President
SOURCE LightPath Technologies, Inc.