Company to Host Meetings with Both Prospective
Customers and End-Users to Discuss LightPath's Next-Generation
Optics and Imaging Systems in Mission Critical Defense
Applications
ORLANDO,
Fla., Oct. 10,
2024 /PRNewswire/ -- LightPath Technologies,
Inc. (NASDAQ: LPTH) ("LightPath," the "Company," or "we"), a
leading provider of next-generation optics and imaging systems for
both defense and commercial applications, today announced its
participation at the Association of the United States Army ("AUSA")
2024 Annual Meeting and Exposition, taking place October 14-16, 2024, in Washington D.C.
The AUSA Annual Meeting is the largest land power exposition and
professional development forum in North
America, designed to deliver the Army's message by
highlighting the capabilities of organizations and presenting a
wide range of industry products and services. AUSA accomplishes
this task by providing informative and relevant presentations on
the State-of-the-Army, panel discussions and seminars on pertinent
military and national security subjects, and a variety of valuable
networking events available to all that attend.
"The AUSA Annual Exposition is one of the premier events in the
defense industry, providing us the opportunity to meet with
leaders, innovators, and stakeholders from across the military and
defense sectors," said Sam Rubin,
President and Chief Executive Officer of LightPath. "As a leading
optics and imaging systems solutions provider to the defense
industry, we expect to introduce current and prospective customers
to our portfolio of next-generation products leveraging our
proprietary BlackDiamond™ glass.
"We also look forward to providing an update to attendees on our
recently received qualification of our advanced thermal camera
system by Lockheed Martin as part of its bid to produce a design of
a major missile program for the US Army. We are now starting
delivery of flightworthy hardware for implementation into Lockheed
Martin's initial live test units. Initially, it was expected that
the U.S. Army would make a selection on a final solution for the
Program and move into production with 10,000 units by 2028;
however, it has been announced that a decision to move the program
into production is now expected by 2026. Collectively we believe
this program represents a revenue opportunity of between
$500 million and $1 billion over the life of the program, based on
volumes from legacy programs implemented by the U.S. Army."
About LightPath Technologies
LightPath Technologies, Inc. (NASDAQ: LPTH) is a leading
provider of next-generation optics and imaging systems for both
defense and commercial applications. As a vertically integrated
solutions provider with in-house engineering design support,
LightPath's family of custom solutions range from proprietary
BlackDiamond™ chalcogenide-based glass materials – sold under
exclusive license from the U.S. Naval Research Laboratory – to
complete infrared optical systems and thermal imaging assemblies.
The Company's primary manufacturing footprint is located in
Orlando, Florida with additional
facilities in Texas, Latvia and China. To learn more, please visit
www.lightpath.com.
Forward-Looking Statements
This press release includes statements that constitute
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the use of words
such as "forecast," "guidance," "plan," "estimate," "will,"
"would," "project," "maintain," "intend," "expect," "anticipate,"
"prospect," "strategy," "future," "likely," "may," "should,"
"believe," "continue," "opportunity," "potential," and other
similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements are based on information available at
the time the statements are made and/or management's good faith
belief as of that time with respect to future events and are
subject to risks and uncertainties that could cause actual results
to differ materially from those expressed in or suggested by the
forward-looking statements. Factors that could cause or contribute
to such differences include, but are not limited to, the impact of
varying demand for the Company products; the ability of the Company
to obtain needed raw materials and components from its suppliers;
actions governments, businesses, and individuals take in response
to the pandemic, including restrictions on onsite commercial
interactions; general economic uncertainty in key global markets
and a worsening of global economic conditions or low levels of
economic growth; geopolitical tensions, the Russian-Ukraine
conflict, and the Hamas/Israel
war; the effects of steps that the Company could take to reduce
operating costs; the inability of the Company to sustain profitable
sales growth, convert inventory to cash, or reduce its costs to
maintain competitive prices for its products; circumstances or
developments that may make the Company unable to implement or
realize the anticipated benefits, or that may increase the costs,
of its current and planned business initiatives; and those factors
detailed by LightPath Technologies, Inc. in its public filings with
the Securities and Exchange Commission, including its Annual Report
on Form 10-K and Quarterly Reports on 10-Q. Should one or more of
these risks, uncertainties, or facts materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those indicated or anticipated by the
forward-looking statements contained herein. Accordingly, you are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date they are made.
Forward-looking statements should not be read as a guarantee of
future performance or results and will not necessarily be accurate
indications of the times at, or by, which such performance or
results will be achieved. 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.
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SOURCE LightPath Technologies