Thursday, September 30, 2010

How to do Business with Orange County

How to do Business with Orange County
October 18, 2010
(10:00am to 12:00pm)
Location: Disney Entrepreneur Center
315 E. Robinson Street
Suite 100
Orlando, FL 32801
This “Free” workshop is being provided through The Business Connections Program @ the DEC.
*For additional information or if you have special needs, please call: 407-836-7345
*Please note: This workshop is for business owners interested in doing business with Orange County. Business owners are familiarized with the details related to the procurement process.
To Register, please RSVP by filling out the information below and
Email to: pam@disneyec.com.
Name:
Company: Phone: Address:
Email:
Minority Status: African American, Hispanic, Asian, Native American or Woman

Creating & Executing an Online Video Strategy

Lunch ‘n Learn @ St. Cloud Incubator


“Creating & Executing an Online Video Strategy”

Presented by: J. Brewer, CEO, Teksita Corporation

Presentation

· How Online Video can Increase Profits

· Video Marketing as a Part of your Overall Strategy

· Attracting and Increasing the Right Audience

· Integrated Marketing and Online Video

· The Tools Used for Online Video

· Self Produce and Self Publish

· Measuring the Results of Online Video

“Examples of video email marketing, SMS video-auto responders and live video broadcasting.”

Date: Wednesday, October 13, 2010; 11:30 am – 1:30 pm

Location: UCF Business Incubator – St. Cloud

3201 Budinger Ave, St. Cloud Fl 34769

Cost: No Charge to Incubator Clients; $20 for all others

To Reserve a Space, Please Email: Jessica jfilter@mail.ucf.edu or 407-498-0432


Mr. J. Brewer is an information technology expert with an extensive background in the Internet industry. He is the CEO and founder of Teksita Corporation, a provider of online video communication and promotion services for businesses and organizations. He co-founded and served as CEO and president of IntelliSTAR, recognized by the Orlando Business Journal as a top five Internet services provider during the 1990s. He was also a principal in and served as IT vice president for JoePix, Inc., a leading online provider of special event photography programs for a client list including NBC, Sprint, Pepsi, Monster.com, American Express, House of Blues, Sam Adams, Hollywood Records, Macy's, Motorola and others. He worked as a consulting project manager during the TSA officer assessment and hiring program in the post-9/11 Transportation Security Administration, and was responsible for IT and medical personnel from Jacksonville, Florida to Anchorage, Alaska. Mr. Brewer is a graduate of Florida State University, where he studied theatre, film and television.

Tuesday, September 28, 2010

SEMINAR: 10.1.10 / CREOL 102 / 11-12pm / "OptomechanicalDesign for Laser and Optical Engineers: An Overview of CourseOSE6938N", Dr. Kasunic

Seminar: "Optomechanical Design for Laser and Optical Engineers: An Overview of Course OSE6938N"

CREOL 102

Friday, October 01, 2010 / 11:00-12:00 PM

Keith J. Kasunic

Lockheed Martin M&FC

Abstract:

While the development of a new laser for lab use is an impressive feat, students with entrepreneurial or industrial ambitions must know how to transition that laser from the lab into a marketable product.

A key component of this transition is the ability to design a laser which is stable, manufacturable at moderate cost, small, lightweight, reliable, and can operate under a variety of environmental conditions such as shock, vibration, and changes in temperature.

In addition, the laser will often be part of an optical system, with which the laser must interface, and which must also meet its own requirements on performance, stability, manufacturability, etc.

Some of the skills required for this transition from the lab to the marketplace are categorized as “optomechanical design”. As an introduction to the CREOL course being offered for the first time in Spring 2011 (OSE6938N ST), this seminar will review the basic concepts and principles of this discipline.

Biography:

Keith J. Kasunic has more than 20 years of industrial experience developing optical and laser systems. He spent the first 10 years of his career as an optomechanical engineer, before returning to graduate school for his Ph.D. in Optical Sciences at the Univ. of Arizona. He has been employed by Lockheed Martin, Ball Aerospace, Sandia National Labs, Nortel Networks, and Bookham Technology. He is also the author of the textbook Optical Systems Engineering, to be published by McGraw-Hill in 2011.

For More Information:

Dr. Glenn Boreman

Trustee Chair Professor of Optics, ECE & Physics

407-823-6815

boreman@creol.ucf.edu

Finding the Right Paths: How You Really Can Figure Out What DoDWants and Needs

Friday, October 15, 2010

8:30-10:30 AM

University Tower, 12201 Research Parkway,

2nd Floor Conference Room #211, Orlando, FL 32826

Please RSVP to Renee Ayala at rayala@mail.ucf.edu or by calling

407-882-0202 for this NO FEE informative event.

Finding the Right Paths:

How You Really Can Figure Out What DoD Wants and Needs

The Content:

Whether you are already doing business with the Department of Defense or you want do, it can be daunting to figure out HOW to find current, accurate information on WHAT the agency needs that might present an opportunity for your company. This presentation will describe the process by which DoD creates new programs and opportunities through its strategic planning. It will include website links and reviews of the various key references for the Military Services which are detailed, public domain information sources, but that you may not easily find otherwise. Mr. Grow will also cover ways you can maximize visibility and reach when working with the DOD.

The session will offer substantial advice and insight as well as answers to some of your questions. A copy of the presentation, which includes many links and reference material, will be provided. We will also be requesting input from you on topics under consideration for subsequent sessions so we can continue to provide you useful information on doing business with DoD.

The Briefer:

David Grow is the President of the International Test and Evaluation Association's Central Florida Chapter. Dave has worked within the Department of Defense as a Staff Officer within two offices of the Office of the Secretary of Defense, on the Army Secretary's staff, in the office of the Chief of Staff of the Army, on the staff of the Air Force Secretary, and on the staff of the Chief of Naval Operations. He has served as a strategic planner, a liaison to law enforcement technologists, a gang and graffiti abatement coordinator, and a test director. He is an electronics engineer who has served eight Pentagon tours, 25 years in the DOD, and worked numerous acquisition and contracting actions. Dave's role on the Bradley Live Fire test is actually represented on screen in the film "Pentagon Wars."

ITEA:

The International Test and Evaluation Association's (ITEA) Central Florida Chapter (ITEA-CF) offers:

1) Access to test and evaluation information and representatives to the various professional organizations in the Central Florida region;

2) Assistance in building a bridge between Central Florida small business and the Defense enterprise;

3) Education, awareness, and advancement in the test and evaluation discipline and the overall Defense acquisition discipline through speaking programs, conferences, tutorials, and presentations.

For more information about ITEA, visit the International Association's web site at http://www.itea.org. For information about ITEA-CF, speak with Dave Grow during this event or contact him at dpg22032@gmail.com.

Monday, September 27, 2010

Invitation to Workshop on Next-Generation Optical FiberTechnology

Dear CREOL Industrial Affiliates,

On behalf on the organizing committee, I would like to invite you to attend the Workshop on Next-Generation Optical Fiber Technology, funded by NSF and ARO, to be held Oct. 17-Oct 19, at the Hilton Cocoa Beach Oceanfront, Cocoa Beach, FL.

This workshop brings together the world leaders of optical fiber fabrication technology, including, among others:

Philip Russell (Max Planck Institute for the Science of Light, Germany)
David Richardson (University of Southampton, UK)
Jonathan Knight (Bath University, UK)
Yoel Fink (MIT, USA)
Siddharth Ramachandran (Boston University, USA)
Liang Dong (Clemson, USA)
Jacques Albert (Carlton University, Canada)
Philippe Roy (Faculte des Sciences et Techniques, Limoges, France)

The workshop will engender a discussion about the current state-of-the-art and future development of optical fiber fabrication technology and optical fiber applications.
The workshop is held on the scenic Cocoa Beach at an ideal time of the year for Florida weather. Registration for the workshop is free! Discounted room rates are available from the Hilton Cocoa Beach Oceanfront.
We sincerely hope you can attend this workshop and contribute to the future of optical fiber science and technology.

Workshop website:
http://www.creol.ucf.edu/FiberWorkshop/
Registration for the workshop:
http://www.creol.ucf.edu/FiberWorkshop/Registration.aspx

Hotel rooms at a discount rate are available at the Hilton:
http://www.hilton.com/en/hi/groups/personalized/CCBCHHF-UOCF-20101017/index.jhtml?WT.mc_id=POG
Use code: UOCF


Dr. Ayman Abouraddy
CREOL, The College of Optics & Photonics
University of Central Florida
Orlando, FL 32816
----------------------------------------

Organizing Committee:
Ayman Abouraddy (UCF)
Almantus Galvanauskas (U Michigan)
Martin Richardson (UCF)
Axel Schulzgen (UCF)

AMI Receives William C. Schwartz Industry InnovationAward


(Sept. 23, 2010) Analog Modules, Inc. (“AMI”) received the William C. Schwartz Industry Innovation Award representing Seminole County from the Metro Orlando Economic Development Commission (“EDC”). Named in honor of the late William (“Bill”) C. Schwartz – an avid community leader, business pioneer and innovator within the field of optics and photonics – this program recognizes local companies for innovative practices, products and ideas. It is fitting that AMI received this award as AMI is a 1979 spin-off from Bill Schwartz’s company, International Laser Systems. Ian Crawford, President of AMI and Tim Ayres, V.P. Laser Electronics Division accepted the award on behalf of AMI.

Saturday, September 25, 2010

SBIR/STTR Cost Proposal and Accounting Workshop

SBIR/STTR Cost Proposal and Accounting Workshop

WHEN: October 26, 2010 – 1:00 p.m. to 5:00 p.m.
WHERE: TRDA Business Innovation Center, 1050 W. NASA Blvd., Melbourne, FL
COST: $49

Small businesses receive more than $2 billion in federal grants and contracts each year through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. This TRDA workshop will focus on cost proposal and accounting, including formats, preparation, audits and basic government accounting concepts.

Government accounting and SBIR/STTR cost proposals are challenging proposal areas and very important to making sure that you don't go broke trying to complete an SBIR/STTR project. In this workshop, you will learn how to estimate your company's indirect/F&A rate, and how to justify your fee/profit request. Not sure you are going to ask for indirect/F&A reimbursement, or for fee/profit on your SBIR/STTR projects? Attend this workshop and get the answers to these questions and more!

Jim Greenwood, Trainer/Facilitator

Jim Greenwood, president of Greenwood Consulting Group, Inc., is nationally known for his expertise in helping companies and entrepreneurs achieve success in winning SBIR/STTR awards from federal agencies. He is currently an NSF reviewer for SBIR/STTR grants and has been active in SBIR since the program's inception. Jim has instructed thousands of workshop and conference attendees how to successfully write competitive technical and cost proposals for SBIR funding.

Jim helped develop and manage the Los Alamos Small Business Center, one of the first technology incubators in the Southwest U.S. He has served as a grant proposal reviewer for the National Science Foundation and for the U.S. Army’s Quality Awards, which recognizes small business projects with the greatest private and military potential. Jim and his wife Gail received the prestigious Tibbetts Award from the U.S. Small Business Administration for their contributions to SBIR counseling and training, and have been nationally recognized for their work in developing successful small business technology incubators.

Register and pay online at www.trda.org.

For more information, contact Bonnie O’Regan at 321-872-1050, Ext. 107

or email boregan@trda.org

Thanks

Monday, September 20, 2010

IEEE Student Chapter Seminar: 10.1.10 / CREOL 102 / 9:30-10:30am / “Adaptive Photonic Phase-Locked Elements (APPLE)”, Dr. Terry Dorschner

IEEE Student Chapter Seminar: “Adaptive Photonic Phase-Locked Elements (APPLE)”, Dr. Terry Dorschner CREOL 102 Friday, October 1, 2010 / 9:30am-10:30am

Dr. Terry A. Dorschner

Network Centric Systems

Abstract:

Dr. Terry Dorschner, Principal Investigator for the DARPA APPLE program, will describe this innovative program and spell out the important role that UCF researchers are playing. APPLE (Adaptive Photonic Phase-Locked Elements) is developing all-electronic combining and steering of high power laser beams within an agile, conformal, aperture. The APPLE vision is a coherently-phased array of optical apertures that directly addresses the long standing DoD need for flexible, multi-function laser systems for applications in laser radar, laser target designation, laser communications, and ultimately, high power laser systems. It is a practical approach to synthesizing high-power directed energy weapon lasers from lower power modules, and provides electro-optical systems with the same mission flexibility and performance enhancements that microwave phased arrays provide for RF systems.

Biography:

Dr. Terry Dorschner is a Senior Principal Engineering Fellow for Network Centric Systems (NCS). He is widely recognized as the father and champion of optical phased array technology and is currently working within Integrated Communications Systems to grow a laser communications business based on optical phased arrays.

He was the primary author of the IEEE Proceedings paper entitled “Optical Phased Array Technology,” which was awarded the 1998 IEEE R.G. Baker Prize, given for the best paper published in all of the IEEE journals, and selected for the potential impact of the reported technology on the future of engineering. He holds more than 40 US and International Patents.

Terry earned his Bachelor of Science degree from the Massachusetts Institute of Technology and Master’s and Doctoral degrees in Electrical Engineering from the University of Wisconsin. He is a graduate of Raytheon’s Engineering Management and Advanced Management Programs.

For more information:

Likai Zhu - IEEE Student Chapter President

407-823-6881

likaizhu@creol.ucf.edu

LIGHTPATH TECHNOLOGIES COMPLETES $750,000 SBIR PHASE II CONTRACT FROM THE U.S. NAVY

LIGHTPATH TECHNOLOGIES COMPLETES $750,000 SBIR PHASE II CONTRACT FROM THE U.S. NAVY

Creates Platform to Develop Large Diameter Molded Infrared Aspheric Lenses

Orlando, FL: September 20, 2010: LightPath Technologies, Inc. (NASDAQ: LPTH), a global manufacturer, distributor and integrator of patented optical components and assemblies, announced today that the Company has completed a $750,000 Phase II SBIR contract award from the U.S. Navy, under the direction of the Air Force Research Laboratory (AFRL), for developing molding capabilities for infrared lenses using chalcogenide glass.

The completion of the SBIR has created a platform for LightPath to develop large diameter molded infrared aspheric lenses. LightPath currently sells molded infrared lenses and thermal imaging assemblies as part of the larger thermal imaging, thermography and gas sensing markets. These expanding markets have a combined estimated value of over $2.5 Billion.

LightPath CEO Jim Gaynor commented, “LightPath has enjoyed collaborating with the US Navy and US Air Force to develop new technologies for molding infrared lenses. Completion of this SBIR contract has enabled LightPath to not only bring low cost, molded infrared optics to the defense market, but also bring to market high volume infrared lenses for commercial OEM applications. The completion of this SBIR contract significantly increases LightPath’s potential market share in the infrared optics markets by enabling LightPath to produce molded lenses that are larger in diameter that previously possible.”

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 & measurement and telecommunications. LightPath has a strong patent portfolio that has been granted or licensed within these fields. For more information, visit http://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. 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.

GRADIUM® is a registered trademark of LightPath Technologies

Contact:

Ray Pini, Director of Marketing
LightPath Technologies, Inc.
Tel: +1-407-382-4003 x336
Email: rpini@lightpath.com

Web: www.lightpath.com

Friday, September 17, 2010

LPTH Press Release - FOX Business Network's WALLSTREETCAST Program to Air In-Depth Look at LightPath Technologies

FOX BUSINESS NETWORK’S WALLSTREETCAST PROGRAM TO AIR IN-DEPTH LOOK AT LIGHTPATH TECHNOLOGIES

LightPath CEO Jim Gaynor to Appear in a Nationally Broadcast Interview Beginning on September 18th

Orlando, FL: September 17, 2010: LightPath Technologies, Inc. (NASDAQ: LPTH), a global manufacturer, distributor and integrator of patented optical components and assemblies, is pleased to announce that Company President and CEO Jim Gaynor will appear on WALLSTREETCAST, a national weekly television program airing on the FOX Business Network. During these interviews, Jim Gaynor will review LightPath Technologies’ capabilities and discuss those catalysts for potential future growth.

The scheduled airtimes for Jim Gaynor's interview are as follows, and will also be broadcast online at http://www.moneychannel.tv/.

  • Saturday, September 18th at 1:30 PM
  • Saturday, September 25th at 1:30 PM
  • Saturday, October 2nd at 1:30 PM
  • Saturday, October 9th at 1:30 PM

Mr. Gaynor's appearances are part of a national radio, television and Internet Media Agreement with the Money Channel Inc., through MJD Media. This agreement provides an opportunity for potential investors to learn about LightPath Technologies' products and growth strategies through interviews airing each week on “Steve Crowley’s American Scene,” a 20-year on-air financial national radio show, and WALLSTREETCAST, which airs on the FOX Business Network during certain times of the year. Both programs feature personal finance advice, stock market-related news and advice, and include regular CEO interviews of micro-cap and small-cap companies. American Scene alone has over 3,000,000 listeners on the three-hour daily radio broadcasts and airs on hundreds of radio channels nationwide through the IRN/USA Radio Network affiliates.

“We are extremely pleased to have this additional opportunity with WALLSTREETCAST to speak directly about our value to our shareholders, potential investors and customers. We also will use this opportunity to discuss the Company’s progress and showcase our products and services in a timely fashion to our targeted audience,” said CEO Jim Gaynor.

About Money Channel Inc.

The Money Channel Inc., headquartered in Coconut Creek, Florida, has operated as a media company since 2004. Its CEO, Stephen Crowley, is a former Price Waterhouse and Co. CPA-Manager, the former Money Editor of ABC's Good Morning America as well as the author of Money for Life, published by Simon & Schuster Inc. Mr. Crowley and his team have produced more than 9,000 national radio and television programs since 1982 in markets ranging from New York to San Diego and from Seattle to Miami. American Scene Radio is also co-branded with Investors Business Daily at www.investors.com/americanscene and with TheStreet.com founded by Jim Cramer.

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 & measurement and telecommunications. LightPath has a strong patent portfolio that has been granted or licensed within 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. 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:

Ray Pini, Director of Marketing
LightPath Technologies, Inc.
Phone: +1-407-382-4003 x336
Email: rpini@lightpath.com
Internet: www.lightpath.com

Putting the Business Puzzle Together - Lunch & Learn -Sept.23

In our series of seminars "Building Blocks for a Successful Business", David has walked entrepreneurs and business owners through many steps that are essential for strengthening the foundation of a business, especially in the area of financial and capital strategies. In "Putting the Business Puzzle Together" David will focus on key functions within the business that a CEO needs to stay on top of in order to obtain optimal growth.

Are your sales systems capturing essential management information?

Are your product development systems as efficient as possible?

Do you have the right talent in key positions?

Are you allocating resources appropriately?

Are you paying attention to legal requirements for accounting, safety, HR, privacy, etc?

Invitation

When starting a business, the founders, or CEO's, usually bring a good bit of knowledge and experience in one or more areas of the business, such as sales, service, product development, and the industry. They also may have extensive knowledge of general administration, IT, people management, finance and accounting, and so forth.

While a varied background is helpful, it doesn't always provide a CEO with clear guidance on what should be the key indicators and measures for the business. In this seminar David will point out, in his entertaining, no-nonsense style, what to pay attention to in order for your business to succeed.

You cannot afford to miss his unique insights! Come and join us for an informative and entertaining event!

About DSI

David Stacey International, LLC specializes in helping companies develop the roadmap they need to turn visions into reality. "Telling you what you need to know, not what you want to hear!" is David's guiding motto. In his direct, entertaining style, he delivers solid guidance through presentations and private consultations with businesses.

We welcome you and your business partners to our seminar. When the whole team hears the same messages it can really clarify problems and create forward momentum.

We know your time is very valuable, so we won't waste it. You will receive solid, valuable information and ideas that you can put to use immediately.

We look forward to seeing you at the seminar.


David and Frances Stacey
David Stacey International, LLC

About David Stacey

David Stacey is the owner and CEO of David Stacey International, LLC, a consultancy business that specializes in providing services to owners of companies that need to create or re-create their business model, or that need to raise finance, or evaluate and address performance issues.

An accomplished public speaker, before moving permanently to the USA in 2006, David spent 26 years in International Banking, becoming a world leader in aircraft finance. With teams in several countries, he managed portfolios of over $1.5 billion in assets. Over the last 10 years he has brought his extensive experience to small business owners, advising them how to optimize their business and financial models, and how to raise capital.

David has lived in several countries, speaks Spanish, and graduated with a Masters from Cambridge University, England.

To Register

Please register by Tuesday, September 20. Our Chef thanks you. Online: www.DavidStaceyInternational.com on our secure upcoming Events Calendar page.

Phone: call Frances 407 834 8419 or c.407 722 0776.

Email: Frances@DavidStaceyInternational.com

Thursday, September 16, 2010

LPTH Press Release - LightPath Technologies Announces Fourth Quarter and Fiscal 2010 Financial Results

LightPath Technologies Announces Fourth Quarter and Fiscal 2010 Financial Results

Reports Positive Net Income on Increased Revenues
and Gross Margin Improvements in the Fourth Quarter

ORLANDO, FL—September 16, 2010 -- LightPath Technologies, Inc. (NASDAQ:LPTH) (the “Company”, “LightPath”, or “we”), a global manufacturer, distributor and integrator of patented optical components and high-level assemblies, announced today its financial results for the fourth quarter and fiscal year ended June 30, 2010. Actual results were in line with the Company's preliminary results issued on August 25, 2010. Full details are available in the Company’s Annual Report on Form 10-K filed today with the SEC at www.sec.gov.


Highlights:
• Net income for the fourth quarter of fiscal 2010 was approximately $92,000 compared to a loss of approximately $318,000 for the fourth quarter of fiscal 2009.
• Revenue for the fourth quarter of fiscal 2010 was $2.8 million compared to $1.6 million for the fourth quarter of fiscal 2009.
• Backlog scheduled to ship within the next 12 months was $2.9 million as of June 30, 2010, an increase of $600,000 from June 30, 2009.
• Gross margin was 51% for the fourth quarter of fiscal 2010 as compared to 33% for the fourth quarter of fiscal 2009.
• EBITDA for the fourth quarter of fiscal 2010 improved to income of $488,000 compared to a loss of $21,000 in the fourth quarter of fiscal 2009.
• Cash on hand as of June 30, 2010 was $1.5 million as compared to $580,000 on June 30, 2009.
• Unit shipment volume in precision molded optics was up 292% in the fourth quarter of fiscal 2010 compared to the same period last year.

Jim Gaynor, President and Chief Executive Officer of LightPath, commented, "I am pleased to report LightPath has continued its trend of positive net income in the fourth quarter of fiscal 2010. During the fourth quarter, our revenues rose 75% over the same quarter in the prior year, gross margin increased both from the third quarter to the fourth quarter and year-over-year to 51% and expenses remained relatively flat. Unit shipment volume in precision molded optics increased substantially by 292% in the fourth quarter of fiscal 2010 compared to the same period last year.”

Gaynor continued, “One measure the Company uses to measure performance is EBITDA. EBITDA has improved from a loss of $21,000in the fourth quarter of fiscal 2009 to income of $488,000 in the fourth quarter of fiscal 2010, a gain of $509,000. As we continue to grow our top-line and increase our unit volume, we anticipate better fixed cost utilization. A greater percentage of our revenues will drop to the bottom-line, delivering gross margin, EBITDA and net income improvements going forward.”

“While the U.S. optics market showed signs of an economic rebound in fiscal 2010, Asia represents a significant new market for future growth. Our Shanghai-based facility has taken over 95% of our total production and has enabled us to make the transition into low-cost, high-volume production. While we continue to implement this new business strategy, we anticipate production levels to ramp up significantly at our Shanghai facility. Minimal capital expenditure would be required for future expansion, providing us the ability to meet growing demand for high-volume, low-cost lenses used in laser systems, laser tools, biomedical instrumentation, and telecommunications equipment, primarily produced by Original Equipment Manufacturers based in Asia,” Gaynor added.
He concluded, “Overall, given the uncertain market conditions, our outlook for the future is positive but cautious over the short-term. Given the opportunities we see for LightPath in the low cost commercial markets and infrared markets, especially in Asia, we are very optimistic for our long-term business. Our efforts to penetrate high-volume, lower cost commercial markets in Asia show tremendous promise for the upcoming fiscal year. We are excited by the acceptance of the new products, such as our blue laser collimating lenses, which have shown quick market uptake and helped contribute to increased quote activity in recent weeks. We expect our upward growth trend to continue in fiscal 2011.”

Financial Results for Three Months Ended June 30, 2010

Revenue for the fourth quarter of fiscal 2010 totaled $2.8 million compared to $1.6 million for the fourth quarter of fiscal 2009, an increase of 75%. The increase from the fourth quarter of fiscal 2009 was primarily attributable to higher sales volumes of precision molded optics, GRADIUM lenses and isolators. Our precision molded optics sales units were significantly higher as a result of our increased production capability and our pursuit of high volume low cost lens business. Our current cost structure has allowed us to sell product at lower prices while improving gross margins. Growth in sales going forward is expected to be derived primarily from the precision molded optics product line, particularly our low cost lenses being sold in Asia.

Our gross margin percentage in the fourth quarter of fiscal 2010 compared to the fourth quarter of fiscal 2009 increased to 51% from 33%. Total manufacturing cost of $1.4 million was approximately $310,000 higher in the fourth quarter of fiscal 2010 compared to the same period of the prior fiscal year. The manufacturing cost increase was a reflection of an increase in costs in order to support higher production and sales volumes. Unit shipment volume in precision molded optics was up 292% in the fourth fiscal quarter of 2010 compared to the same period last year. This resulted in better absorption of overhead costs which in turn resulted in improved fixed cost utilization and lowers our unit cost. Direct costs, which include material, labor and services increased to 26% of revenue in the fourth quarter of fiscal 2010, as compared to 23% of revenue in the fourth quarter of fiscal 2009 due to a product mix change. Gross margins improved as a result of the cost reduction programs we have implemented, better production yields and efficiencies and improved overhead absorption with the increased volume.

During the fourth quarter of fiscal 2010, total costs and expenses increased $465,000 to $1.2 million compared to $690,000 for the same period in fiscal 2009. Expenses in the fourth quarter of last year were $370,000 lower due to non recurring events resulting in reductions to general and administrative expenses; receipt of $183,000 from our D&O insurance carrier as a refund of legal expenses and receipt of $186,000 in excess cost reimbursement from the Chinese government related to the move of our manufacturing facility in Shanghai. Included in total costs and expenses for the fourth quarter of fiscal 2010 were $937,000 in selling, general and administrative expenses. As a result, total operating income for the fourth quarter of fiscal 2010 improved to $282,000 compared to a loss of ($159,000) for the same period in fiscal 2009.

Interest expense was approximately $193,000 in the fourth quarter of fiscal 2010 as compared to $163,000 in the fourth quarter of fiscal 2009. The convertible debentures issued in August 1, 2008 accounted for approximately $193,000 of interest during the quarter ended June 30, 2010. This includes periodic interest at 8% and amortization of the related debt issuance costs and debt discount, and write off of debt issue costs, prepaid interest and debt discount for debentures converted into shares of common stock during the fourth quarter of fiscal 2010.
Net income for the fourth quarter of fiscal 2010 was $92,000 or $0.01 per basic and diluted common share, compared with a net loss of ($318,000) or ($0.05) per basic and diluted per common share for the same period in fiscal 2009. This represents a $410,000 increase in net income compared to the fourth quarter of fiscal 2009. Weighted-average basic shares outstanding increased to 8,858,563 in the fourth quarter of fiscal 2010 compared to 6,691,966 in the fourth quarter in fiscal 2009 primarily due to the issuance of shares of common stock related to the private placements in the first and fourth quarter of fiscal 2010.

Financial Results for Year Ended June 30, 2010

Revenue for the fiscal year 2010 totaled $9.3 million compared to $7.5 million for fiscal year 2009, an increase of 24%. The increase from the prior fiscal year was primarily attributable to higher sales volumes for precision molded optics and GRADIUM lenses offset by lower sales for isolators and collimators. Our precision molded optics sales units were significantly higher but our average selling price was lower. This is the result of our pursuit of producing high volume low cost lenses. Our current cost structure has allowed us to sell product at lower prices while improving gross margins. Growth in sales going forward is expected to be derived primarily from the precision molded optics product line, particularly our low cost lenses being sold in Asia.

Our gross margin percentage in fiscal 2010 compared to fiscal 2009 increased to 47% from 27%. Total manufacturing cost of $4.9 million was $511,000 lower in fiscal 2010 compared to the prior fiscal year. This was due to lower production costs for labor and materials. Unit shipment volume in precision molded optics is up 176% in fiscal 2010 compared to last year. This resulted in better absorption of overhead costs which in turn resulted in improved fixed cost utilization and lower our unit cost. Direct costs, which include material, labor and services were 24% of revenue in fiscal 2010, as compared to 23% in the prior year. Gross margins improved as a result of the cost reduction programs we implemented and better production yields and efficiencies.

During fiscal 2010, total costs and expenses decreased $398,000 to $4.2 million compared to $4.6 million for fiscal 2009. Included in total costs and expenses for fiscal 2010 were $3.3 million in selling, general and administrative expenses, which decreased $377,000 or 10% from $3.6 million in the prior fiscal year. We had a reduction of $255,000 due to lower salaries and benefits, a $29,000 reduction of Director compensation, and decrease in legal costs of $262,000. We had higher investor relations expenses of $267,000 for our new radio and television campaign during fiscal 2010. During fiscal 2009 there were two non recurring events resulting in reductions to general and administrative expenses; receipt of $183,000 from our D&O insurance carrier as a refund of legal expenses and receipt of $186,000 in excess cost reimbursement fro m the Chinese government related to the move of our manufacturing facility in Shanghai. During fiscal 2010 there were some one-time events resulting in a net reduction of approximately $331,000 in general and administrative expenses; receipts of $556,000 on our D&O insurance as a refund for legal expenses, a litigation settlement, $76,000 reduction of legal expenses related to the reversal of accruals for litigation and reduction for reversal of royalty accrual of approximately $68,000.

Interest expense was approximately $728,000 for fiscal 2010 as compared to approximately $1,315,000 for fiscal 2009. Approximately $5,600 of the interest expense for fiscal 2010 is attributable to our equipment term loan and our capital equipment lease. The convertible debentures issued on August 1, 2008 accounted for approximately $722,000 and $1.3 million of interest during fiscal 2010 and 2009, respectively. This represents periodic interest of 8%, amortization and write-off of the related debt issuance costs and debt discount, for fiscal 2009 and value of common shares and warrants issued as incentive to participate in the December 2008 convertible debenture placement and to induce the conversion of the debentures to shares of common stock. On December 31, 2008, 25% of the debentures were converted into shares of common stock and $3 04,382 of debt discount and $121,255 of debt issue costs were written-off to interest expense in the second quarter of fiscal 2009. Included in these totals are related debt discount, debt issue costs and prepaid interest for $262,500 of debentures which were converted into common stock during fiscal 2010.

Net loss for fiscal 2010 was $561,000 or $0.07 per basic and diluted common share, compared with a net loss of $3.8 million or $0.62 per basic and diluted per common share for fiscal 2009. This represents a $3.3 million decrease in net loss compared to fiscal 2009. Weighted-average shares outstanding increased to 8,139,852 in fiscal 2010 compared to 6,167,827 in fiscal 2009 primarily due to the issuance of shares of common stock related to the private placement in the first and fourth quarters of fiscal 2010.

Cash and cash equivalents totaled $1.5 million at June 30, 2010. Total current assets and total assets at June 30, 2010 were $4.8 million and $7.5 million compared to $3.3 million and $5.8 million, respectively, at June 30, 2009. Total current liabilities and total liabilities at June 30, 2010 were $1.1 million and $3.2 million compared to $2.0 million and $4.1 million, respectively, for June 30, 2009. As a result, the current ratio as of June 30, 2010 improved to 4.41 to 1 compared to 1.59 to 1 as of June 30, 2009. Total stockholders’ equity at June 30, 2010 totaled $4.2 million compared to $1.7 million at June 30, 2009.

As of June 30, 2010 our backlog of orders scheduled to ship in the next 12 months, was $2.9 million compared to $2.3 million as of June 30, 2009.

Investor Conference Call and Webcast Details:
LightPath will host an audio conference call and webcast on Thursday, September 16th at 4:00 p.m. EDT to discuss the Company's financial and operational performance for the fourth quarter of fiscal year 2010.

Conference Call Details
Date: Thursday, September 16, 2010
Time: 4:00 p.m. (EDT)
Dial-in Number: 1-877-407-8033
International Dial-in Number: 1-201-689-8033

It is recommended that participants dial-in approximately 5 to 10 minutes prior to the start of the 4:00 p.m. call. A transcript archive of the webcast 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 & 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.

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 are 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 cos ts 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: LightPath Technologies, Inc.
Jim Gaynor, President & CEO
or
Dorothy Cipolla, CFO
Phone: +1 (407) 382-4003
Email: dcipolla@lightpath.com
Web: www.lightpath.com