Friday, November 21, 2014

TODAY! Seminar: "Novel femtosecond lasers for driving attosecond generation" by Dr. Zhiyi Wei 11.21.14/11:00am-12:00pm/ CREOL 103

Seminar: "Novel femtosecond lasers for driving attosecond generation" by Dr. Zhiyi Wei
Friday, November 21, 2014 11:00 AM to 12:00 PM
CREOL Room 103

Zhiyi Wei
Institute of Physics, Chinese Academy of Sciences

 Abstract
Development of femtosecond lasers operating at new wavelengths has attracted great attention for increasing photon energy and flux of attosecond pulses. We have generated isolated 160 as pulses with carrier envelope phase controlled sub-5 fs laser at 800nm. In this talk I will introduce our recent works on laser frequency extension. By using 4H-SiC as the nonlinear crystal in femtosecond OPA experiment, 17 mJ pulses centered at 3.7mm were obtained. Choosing BBSAG as the nonlinear crystal in sum frequency generation, high conversion efficiency at 200 nm was achieved. These light sources can be used as attosecond driving lasers.

 Biography
Dr. Zhiyi Wei was born in Gausu Province, China in 1963. He obtained Ph.D Degree from Xian Institute of Optics and Fine Mechanics, Chinese Academy of Sciences in 1991. After two years postdoctoral fellow at Ultrafast Laser Spectroscopy Lab at Sun Yat-Sen University in China, he worked at the Rutherford Appleton Lab in UK, the Chinese University of Hong Kong, the Hong Kong University of Science and Technology, University of Groningen in the Netherland as a visiting scholar from May 1993 to March 1997. He joined the Laboratory of Optical Physics, Institute of Physics, Chinese Academy of Sciences in 1997. From April 2000 to Sept 2002, he was also employed by the National Institute of Advanced Industrial Science and Technology (AIST) in Japan as a NEDO fellowship researcher. His research interests focus on the generation, phase control, amplification and compression of femtosecond laser pulses. Presently he is the group leader of Ultrafast Laser Group at the Institute of Physics, Chinese Academy of Sciences. He is also the international advisory member of the IoP journal for Measurement Science and Technology, member of C2 (Symbol and Constants) sub-committee of International Union of Pure and Applied Physics (IUPAP).

For additional information:
Dr. Zenghu Chang

407-823-4442

TODAY! Seminar "Space-Division Multiplexed Transmission over Few-Mode-Fiber" by Dr. Nicolas Fontaine 11.21.14/2:00-3:00pm/ CREOL 103

Seminar "Space-Division Multiplexed Transmission over Few-Mode-Fiber" by Dr. Nicolas Fontaine
Friday, November 21, 2014 2:00 PM to 3:00 PM
CREOL Room 103

Dr. Nicholas Fontaine
Bell Laboratories
Crawford Hill, NJ

Abstract
Space-division multiplexed (SDM) systems use the multiple spatial modes in either multi-core fiber (separated modes), or the spatially overlapping but orthogonal modes in few-mode fibers to either increase the capacity or photon-efficiency of fiber links.The new challenges in SDM are how to couple into and out of the various SDM fibers without insertion loss (IL) or mode-dependent loss (MDL), and building components that have comparable performance to, and that offer a cost advantage over systems using multiple single-mode fibers.  I will show several components for space-division multiplexing in few-mode fibers including "photonic lantern" spatial multiplexers which are lossless adiabatic single-mode to multi-mode converters, and wavelength selective switches for routing signals in few-mode fiber. These components enable transmission of signals across multi-mode fiber using up to 12 spatial and polarization modes.

Biography
Nicolas Fontaine obtained his Ph. D. in 2010 at the University of California, Davis in the Next Generation Network Systems Laboratory [http://sierra.ece.ucdavis.edu] in Electrical Engineering. In his dissertation he studied how to generate and measure the amplitude and phase of broadband optical waveforms in many narrowband spectral slices. Since June 2011, he has been a member of the technical staff at Bell Laboratories at Crawford Hill, NJ in the advanced photonics division.  At Bell Labs, he develops devices for space-division multiplexing in multi-core and few mode fibers, builds wavelength crossconnects and filtering devices, and investigates spectral slice coherent receivers for THz bandwidth waveform measurement. Nicolas Fontaine has been author or co-author on over 100 publications, including several post-deadline and invited papers at OFC, ECOC, and CLEO.

For additional information
Dr. Rodrigo Amezcua

407-823-6853

Tuesday, November 18, 2014

LightPath Technologies to Present at LD Micro Conference on December 2nd


FOR IMMEDIATE RELEASE:


LightPath Technologies to Present at LD Micro Conference on December 2nd



ORLANDO, FL -- November 18, 2014 -- LightPath Technologies, Inc. (NASDAQ: LPTH) (“LightPath”, the “Company” or “we”), a global manufacturer, distributor and integrator of proprietary optical components, infrared lenses and high-level assemblies, announced today that Jim Gaynor, President and Chief Executive Officer, will present at the LD Micro investor conference on Tuesday, December 2, 2014 at 4:00 PM PST/7:00 PM EST.


"We are honored to have LightPath Technologies present at the Main Event this year." stated Chris Lahiji, Founder of LD Micro.


About LD Micro

LD Micro is an investment newsletter firm that focuses on finding undervalued companies in the micro-cap space. Since 2002, the firm has published reports on select companies throughout the year. The firm also hosts the LD Micro Invitational. It is a non-registered investment advisor. For more information, please contact 408-457-1042 or visit www.ldmicro.com.


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 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.  


Contacts:
Jim Gaynor, President & CEO
LightPath Technologies, Inc.
Tel: 407-382-4003

Dorothy Cipolla, CFO
LightPath Technologies, Inc.
Tel: 407-382-4003 x305

Jordan Darrow
Darrow Associates, Inc.
Tel: 631-367-1866


Saturday, November 15, 2014

SPIE Start-up Challenge at Photonics West - DEADLINE APPROACHING - DECEMBER 1st

Are you a Florida company or start-up that might be interested in an opportunity to pitch their company for cash prices in front of VC's and industry leaders?

http://spiestartup2015.istart.org/

The SPIE Start-up Challenge for photonics technology is held annually at the Photonics West conference in San Francisco. This competitive event invites new entrepreneurs to pitch their light-based technology business plan to a team of business development experts and venture capitalists. Applicants selected to pitch at Photonics West are invited to attend an entrepreneur boot camp for training, networking, and refining their business plan. The best pitch presenters receive cash prizes and are provided support to attend additional entrepreneurship training to continue refining ideas and make further contacts with experts.

Applications are due by 1 December.

Wednesday, November 12, 2014

Seminar "Space-Division Multiplexed Transmission over Few-Mode-Fiber" by Dr. Nicolas Fontaine 11.21.14/2:00-3:00pm/ CREOL 103

Seminar "Space-Division Multiplexed Transmission over Few-Mode-Fiber" by Dr. Nicolas Fontaine
Friday, November 21, 2014 2:00 PM to 3:00 PM
CREOL Room 103

Dr. Nicholas Fontaine
Bell Laboratories
Crawford Hill, NJ

Abstract
Space-division multiplexed (SDM) systems use the multiple spatial modes in either multi-core fiber (separated modes), or the spatially overlapping but orthogonal modes in few-mode fibers to either increase the capacity or photon-efficiency of fiber links.The new challenges in SDM are how to couple into and out of the various SDM fibers without insertion loss (IL) or mode-dependent loss (MDL), and building components that have comparable performance to, and that offer a cost advantage over systems using multiple single-mode fibers.  I will show several components for space-division multiplexing in few-mode fibers including "photonic lantern" spatial multiplexers which are lossless adiabatic single-mode to multi-mode converters, and wavelength selective switches for routing signals in few-mode fiber. These components enable transmission of signals across multi-mode fiber using up to 12 spatial and polarization modes.

Biography
Nicolas Fontaine obtained his Ph. D. in 2010 at the University of California, Davis in the Next Generation Network Systems Laboratory [http://sierra.ece.ucdavis.edu] in Electrical Engineering. In his dissertation he studied how to generate and measure the amplitude and phase of broadband optical waveforms in many narrowband spectral slices. Since June 2011, he has been a member of the technical staff at Bell Laboratories at Crawford Hill, NJ in the advanced photonics division.  At Bell Labs, he develops devices for space-division multiplexing in multi-core and few mode fibers, builds wavelength crossconnects and filtering devices, and investigates spectral slice coherent receivers for THz bandwidth waveform measurement. Nicolas Fontaine has been author or co-author on over 100 publications, including several post-deadline and invited papers at OFC, ECOC, and CLEO.

For additional information
Dr. Rodrigo Amezcua

407-823-6853

Workshop for Two-Year College Faculty and Staff Interested in Optics & Photonics Technician Education - December 10, 2014 in Farmington, CT - Register Today!

OP-TEC

Please join us for a Workshop on
Optics and Photonics Technician Education!
December 10, 2014
Tunxis Community College
Farmington, Connecticut
Workshop hosted by OP-TEC and Camden County College


Workshop Information:
This workshop will provide an opportunity to get in on the ground floor in educating technicians for one of the most exciting and fastest growing technologies - PHOTONICS! 

Optics and photonics applications are rapidly transforming the way we work and live. Photonics, and its applications, involve the cutting-edge use of lasers, optics, fiber-optics, sensors, cameras, and electro-optical devices.  Photonics has many applications in manufacturing, medicine, aerospace, communications, security, solid-state lighting, and other high-tech fields.  Thus it represents a broad, commercially viable area in which American employers require a steady supply of well-qualified technicians.

This regional national workshop is targeted to community and technical college faculty, staff, and administrators, as well as industry/workforce trainers.  While this workshop will be focused on photonics in the Northeast/New England region, the concepts will be applicable and interesting to educators nationwide.  Participants will be provided information on the growing need for photonics technicians and postsecondary programs to educate them.  OP-TEC staff will explain the opportunities for attendees to create new AAS programs in photonics and/or to infuse optics and photonics instruction into existing technical programs in technologies that are enabled by photonics.  Attendees will also learn about OP-TEC materials and services available for planning and implementing photonics education at their institutions.  Please visit our website for more details and to register today!

Date:  Wednesday, December 10, 2014  (10:00 AM - 3:00 PM)

Location:  Tunxis Community College, Farmington, CT

Intended Audience:
  Community and Technical College Faculty, Staff, & Administration (and representatives from their feeder high schools); and Industry/Workforce Trainers to learn about courses, materials, and educational/training opportunities sponsored by OP-TEC.

Cost:  No registration fees!  Space is limited and registration is required.  Lunch will be provided both days of the workshop.  Participants are responsible for lodging, meals, and all travel expenses.
A $200.00 travel stipend will be available for the first 15 colleges that register and attend.
Registrants will receive an information packet via email containing hotel and travel information.
 


  

NSFNSF/ATE National Center of Excellence



Sunday, November 9, 2014

LPTH Press Release: LightPath Technologies Announces Financial Results for First Quarter Fiscal 2015


ORLANDO, FL -- November 6, 2014 -- LightPath Technologies, Inc. (NASDAQ: LPTH) (“LightPath”, the “Company” or “we”), a global manufacturer, distributor and integrator of proprietary optical components, infrared lenses and high-level assemblies, announced today its financial results for the fiscal first quarter ended September 30, 2014.



First Quarter 2015 Highlights:
·         12 month backlog increased approximately 25% to $5.3 million at September 30, 2014 as compared to June 30, 2014.
·         Bookings for optical lenses in the first quarter of fiscal 2015 were $3.45 million, the highest level in ten quarters. Bookings in Asia increased by 73% in the first quarter of 2015 as compared to the first quarter of fiscal 2014.
·         Revenue for the first quarter of fiscal 2015 decreased 7% to approximately $2.60 million compared to approximately $2.81 million for the first quarter of fiscal 2014 reflecting the more moderate economic growth in the Chinese market and a large delayed order from a major US defense contractor.
·         Gross margin as a percent of revenue for first quarter fiscal 2015 was 38% as compared to 47% in the first quarter of fiscal 2014. Lower gross margin was a result of duplicative manufacturing operations as we transition between our two facilities in China and a coating vendor yield issue
·         For the first quarter of fiscal 2015, net loss was approximately $(579,000), or $(0.04) per share, compared to net loss of $(80,000), or $(0.01) per share for the first quarter of fiscal 2014.
·         Adjusted EBITDA for the first quarter of fiscal 2015 was approximately ($380,000) compared to approximately $168,000 in the first quarter of fiscal 2014.

Jim Gaynor, President and Chief Executive Officer of LightPath, commented, “The first quarter of fiscal year 2015 is best summarized as one of mixed results. Our bookings for the quarter were $3.45 million, the highest level in the last ten quarters.  This led to our 12 month backlog increasing by 25% from the beginning of our current fiscal year. This growth outlook confirms the necessity for the investment that has been made to build and staff our recently completed manufacturing facility in China.”

“Our revenue in the first quarter of fiscal 2015 was less than our projections; however, our focused segments of precision molded optics in the Asian market and infrared, experienced growth. In the first quarter of 2015, revenue for precision molded optics business sold in Asia grew by 9% compared to the same period in the prior year and we achieved better than expected growth in our infrared revenue as that business was up in the quarter by more than 47% year-over-year. Revenues from sales in the U.S. during the first quarter of 2015 decreased by 14% from the same period last year, impacted by the delay of a $230,000 order from a U.S. defense contractor. This order is now planned for the second quarter.”

“We planned for lower gross margins in the first quarter compared to the fourth quarter due to expected impacts from the continued transition of manufacturing processes from our Shanghai factory to our new Zhenjiang factory, and the ramp-up of producing higher infrared volumes. We also experienced an unexpected vendor related yield issue during the quarter for infrared products that has been resolved. The cost of these issues is estimated at approximately $100,000.  We also incurred $50,000 of additional expense due to overlapping staff in both of our China locations during this transition period, while our Zhenjiang facility staff continues training. Together, these items impacted our gross margin by approximately 5 percentage points. In the long term, we expect our margins to surpass prior levels as production at the Zhenjiang facility reaches an optimal rate.”

 “We actively managed our working capital in the first quarter, continuing to make important capital investments while taking a balanced approach managing our receivables, inventory and payables.  While Adjusted EBITDA was negative ($380,000) in the quarter, our cash usage from operations was only ($100,000).”

“Addressing the previously disclosed securities purchase agreement with Pudong Science & Technology Investment (Cayman), Co. Ltd.,” Mr. Gaynor added, “we have continued to work with the U.S. government concerning the proposed investment.  We remain optimistic that we will receive the necessary governmental approvals to close the proposed transaction.  As we have previously stated, the proceeds from the sale of common stock are intended to provide working capital to support our continued growth through global expansion.”
Financial Results for Three Months Ended September 30, 2014
Revenue for the first quarter of fiscal 2015 totaled approximately $2.60 million, which was a decrease of $206,000, or 7%, as compared to the same period of the prior fiscal year.   The decrease from the first quarter of the prior fiscal year was attributable to a decrease in sales of our precision molded lenses primarily due to the laser tool market in China and a delayed order from a major U.S. defense contractor, offset by an increase in sales of infrared and Gradium products. Despite the slowdown in the Asian laser tool market in the first quarter of fiscal 2015, the Company still expects further growth in sales of industrial tool products based on recent order activity.  Orders for infrared products are also expected to continue to grow.

The gross margin percentage in the first quarter of fiscal 2015 was 38%, compared to 47% in the first quarter of fiscal 2014. Total manufacturing costs of $1.63 million increased by approximately $135,000 in the first quarter of fiscal 2015 compared to the same period of the prior fiscal year. The increase was primarily due to higher wages associated with the ramp up in infrared production and the overlapping manufacturing workforces during the transition of production between our two China facilities. During the first quarter of fiscal 2015, the Company also experienced an isolated yield issue with one of its coating vendors that resulted in additional expense. This yield issue is now resolved.

During the first quarter of fiscal 2015, total costs and expenses increased by approximately $107,000 compared to the same period of the prior year. The increase was primarily due to an increase of approximately $70,000 in wages in support of the infrared business and approximately $30,000 in higher travel expenses associated with business development initiatives.  Total operating loss for the first quarter of fiscal 2015 was approximately $511,000 compared to an operating loss of approximately $62,000 for the same period in fiscal 2014.

In the first quarter of fiscal 2015, the Company recognized a non-cash expense of approximately $54,000 related to the change in the fair value of derivative warrants issued in connection with the June 2012 private placement. In the first quarter of fiscal 2014, the Company recognized a non-cash expense of approximately $19,000 related to the change in the fair value of these warrants. The warrants have a five year life and this fair value will be re-measured each reporting period until the warrants are exercised or expire.
Net loss for the first quarter of fiscal 2015 was approximately $(579,000) (including the $54,000 non-cash expense for the change in value of the warrant liability) or $(0.04) per basic and diluted common share, compared with a net loss of $(80,000) (including the $19,000 non-cash expense for the change in value of the warrant liability) or $(0.01) per basic and diluted common share for the same period in fiscal 2014. Weighted-average basic shares outstanding increased to 14,312,061 in the first quarter of fiscal 2015 compared to 13,567,712 in the first quarter of fiscal 2014 primarily due to the issuance of shares of common stock for the employee stock purchase plan, shares issued due to warrant exercises and shares issued upon the exercise of restricted stock units.
Cash and cash equivalents totaled approximately $787,000 as of September 30, 2014. The current ratio as of September 30, 2014 was 2.7 to 1 compared to 3.0 to 1 as of June 30, 2014. Total stockholders’ equity as of September 30, 2014 totaled approximately $6.8 million compared to $7.3 million as of June 30, 2014. 
As of September 30, 2014, the Company’s 12-month backlog was $5.3 million compared to $4.3 million as of June 30, 2014, a 25% increase. 
Investor Conference Call and Webcast Details:
LightPath will host an audio conference call and webcast on Thursday, November 6, at 4:30 p.m. ET to discuss the Company’s financial and operational performance for the first quarter of fiscal 2015.
Conference Call Details
Date: Thursday, November 6, 2014
Time: 4:30p.m. (ET)
Dial-in Number: 1-800-860-2442
International Dial-in Number: 1-412-858-4600

It is recommended that participants dial-in approximately 5 to 10 minutes prior to the start of the 4:30 p.m. call. A transcript archive and webcast of the event will be available for viewing or download on the Company web site shortly after the call is concluded.
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 patent portfolio that has been granted or licensed to it in these fields. For more information visit www.lightpath.com.
The discussions of our results as presented in this release include use of non-GAAP terms “EBITDA” and “gross margin.”  Gross margin is determined by deducting the cost of sales from operating revenue. Cost of sales includes manufacturing direct and indirect labor, materials, services, fixed costs for rent, utilities and depreciation, and variable overhead. Gross margin should not be considered an alternative to operating income or net income, which is determined in accordance with Generally Accepted Accounting Principles (“GAAP”). We believe that gross margin, although a non-GAAP financial measure is useful and meaningful to investors as a basis for making investment decisions. It provides investors with information that demonstrates   our cost structure and provides funds for our total costs and expenses. We use gross margin in measuring the performance of our business and have historically analyzed and reported gross margin information publicly. Other companies may calculate gross margin in a different manner.

EBITDA is a non-GAAP financial measure used by management, lenders and certain investors as a supplemental measure in the evaluation of some aspects of a corporation's financial position and core operating performance. Investors sometimes use EBITDA as it allows for some level of comparability of profitability trends between those businesses differing as to capital structure and capital intensity by removing the impacts of depreciation, amortization, and interest expense. EBITDA also does not include changes in major working capital items such as receivables, inventory and payables, which can also indicate a significant need for, or source of, cash. Since decisions regarding capital investment and financing and changes in working capital components can have a significant impact on cash flow, EBITDA is not a good indicator of a business's cash flows. We use EBITDA for evaluating the relative underlying performance of the Company's core operations and for planning purposes. We calculate EBITDA by adjusting net loss to exclude net interest expense, income tax expense or benefit, depreciation and amortization, thus the term "Earnings Before Interest, Taxes, Depreciation and Amortization" and the acronym "EBITDA."
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.       
Contacts:
Jim Gaynor, President & CEO
LightPath Technologies, Inc.
Tel: 407-382-4003

Dorothy Cipolla, CFO
LightPath Technologies, Inc.
Tel: 407-382-4003 x305

Jordan Darrow
Darrow Associates, Inc.
Tel: 631-367-1866