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LightPath Technologies Provides Quarterly Update on Infrared Initiatives
Date:10/31/2012

ORLANDO, Fla., Oct. 31, 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, today provided an update to shareholders on its progress with its infrared lens initiatives.  

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LightPath continues to develop its thermal imaging business and is currently in the later stages of upgrading manufacturing capabilities at its Orlando factory to support the anticipated growth in its thermal infrared product lines. Sales and technical teams have been in contact with many large OEMs who purchase infrared optics in this space and LightPath has received initial orders from three such OEMs for prototypes of optical assemblies for their respective thermal imaging systems. LightPath's optics provide significant material cost advantages for its customers through the use of chalcogenide glass compared to the materials that are currently in use today for such systems. LightPath continues to see significant growth opportunities for this business and expects significant orders from these and other customers in the second half of fiscal 2013. 

In addition, the infrared development program with Raytheon Vision Systems continues to progress and work is now shifting from producing initial prototypes to developing the necessary production-scale cost reductions to meet the program's cost and performance goals. With a substantial portion of the investment phase now completed,
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SOURCE LightPath Technologies, Inc.
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