9 April 1998: US-based LightPath Technologies Inc. Chief Executive Officer Leslie Danziger said the lens and glass maker expects the third quarter launch of new telecommunications products to signifi…
9 April 1998: US-based LightPath Technologies Inc. Chief Executive Officer Leslie Danziger said the lens and glass maker expects the third quarter launch of new telecommunications products to significantly increase revenues. The commercial launch of the fibre-optic telephone systems products comes as part of the company“s drive toward achieving profitability, Danziger said. In its two years as a public company, LighPath has yet to turn a profit. For the first six months of its financial year ending June, the company posted a net loss of US$ 2.50 million or US$ 0.88 per basic share compared with a loss of US$ 1.70 million or US$ 0.62 per basic share for the year earlier period. Danziger said the company expects to begin marketing its Gradium lenses to commercial satellite makers in May, and that the company is between 65-75% of the way toward achieving a “critical mass” as a commercial company. Lightpath is currently designing and marketing energy systems for satellites that consist of a lens and energy cells to convert sunlight into electricity. The company said it intends to market the power systems to satellite makers such as Hughes Electronics Corp., Boeing Co., Lockheed Martin Corp . “We went…from government contracts then to lenses and now we“re going to actual product sales that incorporate gradium lenses,“ Danzig said. “We“re going up the value chain.” Gradium lenses can be dime-sized or as big as a tea-saucer. They collect and concentrate light and separate wavelengths of high-speed data. Danziger said LightPath is focusing on developing lenses and glass products for markets with high profit margins. LightPath“s lenses can be used to generate power for telecommunications and other systems in areas where there is no main electricity.