Wednesday, May 29, 2013

Seminar: "Silver containing phosphate glasses for multi-scale structured optical materials" by Thierry Cardinal / 6.7.13 / 11:00am-12:00pm / Room 102

"Silver containing phosphate glasses for multi-scale structured optical materials" by Thierry Cardinal

Friday, June 07, 2013 / 11:00 AM to 12:00 PM
CREOL Room 102

Abstract:
The development of optics requires materials adapted to the fabrication of compact devices. The introduction of silver ions in oxides glasses enlarges the possibilities when the control of their spatial distribution can be used for designing compact structures exhibiting luminescence or nonlinear optical properties. The development of direct laser writing processes brings access to new approach for multi-scale optical structuring leading to the local formation of species such as Ag2+, Ag0, silver clusters or metallic nano-particles. Original local luminescence, second-harmonic generation (EFISHG) and third-harmonic generation (THG) properties can be obtained. The control of the spatial distribution of silver ions, the identification of the different species, as well as the resulting space charge separation, constitute a main issue for the understanding of the relation between the photo-induced optical properties and the photo-produced species. The temperature during the direct laser writing process constitutes a main parameter to take into account. Chemical, physical and optical characterizations allow correlating the physical properties to the multi-scale structure of the optical materials. Such approach could offer low cost fabrication integrated optical system in the future.

For more information:
Dr. Kathleen A. Cerqua-Richardson
Professor of Optics
407-823-6815
kcr @ creol . ucf . edu

SPIE Visiting Lecturer Seminar Announcement - Dr. Joseph A. Shaw (May 30, 2013)

Distinguished Lecturer Seminar
"Optics in Nature"

Speaker: Dr. Joseph A. Shaw
Director of the Optical Technology Center
Professor of Electrical Engineering and Physics
Montana State University

CREOL 102
Thursday, May 30th 2013, 1.30 PM to 3 PM


Introduction:
The natural world offers a continual display of fascinating optical phenomena. This talk reviews these natural optical phenomena with a combination of colorful photographs and optical diagrams. Examples are shown of optical scattering, diffraction, refraction, reflection, and emission. Technical and non-technical audiences alike will leave this talk with a greater understanding of sky colors, rainbows, halos, coronas, iridescence, glories, glitter patterns, and auroras.

Biography:
Dr. Joseph Shaw is the Director of the Optical Technology Center, Professor of Electrical and Computer Engineering, and Affiliate Professor of Physics at Montana State University in Bozeman, Montana. Dr. Shaw conducts research developing optical remote sensing systems and using them to study climate, weather, and atmospheric optical propagation. Current projects include polarization imaging, radiometric imaging, multi- and hyper-spectral imaging, and lidar measurements in the natural environment. Dr. Shaw received a Ph.D. in Optical Sciences from the University of Arizona and is a Fellow of both the Optical Society of America (OSA) and SPIE.


For more Information:

Sihui He

Secretary, SPIE chapter at UCF


sihui . he @ knights . ucf . edu


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Tuesday, May 14, 2013

Seminar: "Superresolution imaging systems" & “Electro-Optical System Laboratory (EOSL) at Georgia Tech Research Institute – an overview of an applied research lab” by Gisele Bennett, Ph.D. / 5.17.13 / 11:00am-12:00pm / Room 102


"Superresolution imaging systems" & “Electro-Optical System Laboratory (EOSL) at Georgia Tech Research Institute – an overview of an applied research lab” by Gisele Bennett, Ph.D.

Friday, May 17th, 2013 from 11:00am-12:00pm
CREOL Room 102


Gisele Bennett, Ph.D.
Regents’ Researcher
Director, Electro-Optical Systems Laboratory
Professor, School of Electrical and Computer Engineering
Georgia Tech Research Institute / Georgia Tech

Summary:

"Superresolution imaging systems"
Superresolution imaging is a term that has been used for various meanings and has been under debate by the algorithm and optics communities. The debate even extends beyond the definition to the spelling of including the hyphen between super and resolution or not. I will review the approaches to superresolution from a coherence imaging approach to exceeding the classical diffraction limit. Of course with most systems, to gain in one parameter usually means a compromise in some other feature. I will show that coherence analysis to an optical system provides insights that would otherwise not be obvious.

“Electro-Optical System Laboratory (EOSL) at Georgia Tech Research Institute – an overview of an applied research lab”
The Georgia Tech Research Institute (GTRI) is a nonprofit applied research organization that is an integral part of Georgia Tech. It was chartered by the Georgia General Assembly in 1919 and activated in 1934. GTRI plans and conducts focused programs of innovative research, education, and economic development that advance the global competitiveness of Georgia, the Southeast region, and the nation. Working closely with the academic colleges and interdisciplinary centers in areas of research, education, and service, GTRI plays a vital role in helping Georgia Tech reach its goals. GTRI conducts translational, applied, research that finds useful real world applications for breakthrough discoveries in a variety of research areas. As one of the eight laboratories within GTRI, EOSL conducts research in EO modeling, EO systems development, and microelectronics and nanotechnology research. I will provide an overview of GTRI and EOSL.

Biography:
Dr. Gisele Bennett is a Regents’ Researcher, the director of the Electro-Optical Systems Laboratory, Professor in the School of Electrical and Computer Engineering. She founded the Logistics and Maintenance Applied Research Center (LandMARC), a multi-disciplinary center at the Georgia Institute of Technology. As a former member of the scientific cadrĂ© with Centre National de la Recherche Scientifique Laboratoire Optique (CNRS), she collaborated between researchers at CNRS and Georgia Tech Lorraine in the area of optical encryption.
     Her research interests include coherence theory applications to optical imaging systems, atmospheric turbulence and wave propagation, RFID and secure supply chain technologies. She has been a topical and feature editor for Applied Optics, a feature editor for Optical Engineering, and an associate editor for International Journal of RF Technologies: Research and Applications, and is a visiting lecturer for SPIE. She holds Patents on Integrated Sensor Radio Frequency Identification (ISRFID) with Location and container security devices, has numerous patents pending, and a Copyright on a computer model for Wave Propagation through the atmosphere.
     She has served as a reviewer for the National Institute of Health and National Science Foundation proposals and a reviewer for numerous referred journals. She is a senior member of the Institute of Electrical and Electronic Engineers (IEEE) and the Optical Society of America (OSA), and a member of SPIE (International Society for Optics And Photonics), Sigma Xi, Tau Beta Pi, Eta kappa Nu and is currently on the Association for Automatic Identification and Mobility (AIM) RFID Experts Advisory Group (REG). She serves on the WCO e-seals committee and was the project editor, AIM REG ToR 5C, “RFID – Guidelines on data access security” which became ISO/IEC TR24729-4, Information technology — Radio frequency identification for item management. She is one of the first ten fellows chosen for Georgia Tech’s University Leadership program. She has over 90 publications in books or book chapters, refereed journals, technical reports, and workshops. She received her BSEE and MSEE from the University of Central Florida. She has a PhD in Electrical Engineering and a certificate in Management of Technology from Georgia Tech.

For more information:
Cen (Echo) Xia
Graduate Research Assistant
cxia @ creol. ucf. edu
Tel: (407)-823-6869

Tuesday, May 7, 2013

Optometrics Corporation is Moving - Please Note Change of Address




Optometrics Corporation 
is Moving!
  
Dear Customers and Friends of
Optometrics Corporation,

Thanks to you, our valued customers and friends, Optometrics is in the process of adding several thousand square feet of new manufacturing and administrative service space.
 
We will be moving on Friday, 10 May 2013.

As a result, please be aware that we may experience temporary delays in email and voice communications throughout the day Friday, 10 May.

Our offices will reopen on Monday, 13 May.

Thank you for your support and understanding.

Laura Lunardo
Chief Operating Officer
Optometrics Corporation       

Thursday, May 2, 2013

LightPath Technologies Announces Profitable Third Quarter 2013


LightPath Technologies Announces Profitable
Third Quarter
Backlog Grows to Greater than $5M
Cost Reductions Drive Increases in EBITDA and Gross Margin

ORLANDO, FL - (PRNewswire - May 2, 2013) - LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath", the "Company" or "we"), a global manufacturer, distributor and integrator of proprietary optical components and high-level assemblies, announced today its financial results for the third quarter ended March 31, 2013.
Third Quarter Highlights:
Revenue for the third quarter of fiscal 2013 increased 3% to $2.85 million compared to $2.78 million for the third quarter of fiscal 2012.
• 12-month backlog increased 14% to $5.01 million as of March 31, 2013 compared to $4.39 million as of March 31, 2012.
• Gross margin for the quarter was 47%, compared to 32% for the same quarter of fiscal 2012.
• EBITDA increased to $463,000, or 16% of revenues, compared to a loss of $211,000, in the same quarter of fiscal 2012.
• Net income was $217,000, or $0.02 per share for the quarter compared to a net loss of $519,000 or $0.05 loss per share in the same quarter of fiscal 2012.
Jim Gaynor, President and Chief Executive Officer of LightPath, commented, "We are very pleased with the results we achieved this quarter with bookings over $3 million, shipments of $2.85 million and gross margin of 47%. The 15 percentage point improvement in gross margin as compared to the third quarter of fiscal 2012, was a result of cost reductions from our glass conversion program, lower tooling costs, yield improvement and direct labor productivity improvement. We also benefited from improved overhead absorption as we continued to increase our manufacturing volume. Our revenue growth continues to be driven by the telecommunications sector, specifically the need for expanded infrastructure to support mobile internet demand; our industrial tool business which benefited from an improving Chinese market; demand for fiber laser delivery systems; and our entry into the digital projection market."
Mr. Gaynor added, "Our goal is to accelerate our top line growth and we are rigorously pursuing opportunities to further expand our current accounts and develop new ones. We believe the themes of mobile internet growth, recovery of the Chinese industrial tool market and new product applications bode well for our long term growth. Even though overall markets are still weak and somewhat choppy, we have been able to grow our business 51% from 2009 to 2012. Our product offerings, which serve a diverse group of end-markets, have found growth opportunities for our core business in precision molded optics. We are also building a presence in the infrared market. We will continue to work hard to ensure that we are positioned to capitalize on the many opportunities we see ahead for our products and technology."
Financial Results for Three Months Ended March 31, 2013
Revenue for the third quarter of fiscal 2013 totaled approximately $2.85 million compared to approximately $2.78 million for the third quarter of fiscal 2012, an increase of 3%. This increase was primarily attributable to increases in sales of our custom optics, our industrial tool and our GRADIUM® product lines. Growth in sales for the next several quarters is expected to be derived primarily from the precision molded lens product line, driven by the telecommunications sector’s need for expanded infrastructure to support mobile internet demand; our industrial tool business, which benefited from an improving Chinese market demand; fiber laser delivery systems; and our entry into the digital projection market. Infrared products, now being designed and introduced to the market are expected to accelerate the Company’s growth more meaningfully beginning in the fourth quarter of fiscal 2013 and continuing in fiscal 2014.
The gross margin percentage in the third quarter of fiscal 2013 was 47%, compared to 32% for the third quarter of fiscal 2012. Total manufacturing costs of $1.52 million decreased by approximately $373,000 in the third quarter of fiscal 2013 compared to the same period of the prior fiscal year. The decrease in manufacturing costs, as compared to the same period of the prior fiscal year, is a result of an increase in precision molded optics products utilizing lower cost glass, lower tooling costs and better utilization of fixed costs due to higher unit volumes. Direct costs, which include material, labor and services, were 23% of revenue in the third quarter of fiscal 2013, as compared to 24% of revenue in the third quarter of fiscal 2012.
During the third quarter of fiscal 2013, total costs and expenses decreased by approximately $118,000 compared to the same period of the prior year. Selling, general and administrative expenses were $1.04 million for the third quarter of fiscal 2013 compared to $1.14 million for the third quarter of fiscal 2012. Total operating income for the third quarter of fiscal 2013 improved to approximately $56,000 compared to a loss of $506,000 for the same period in fiscal 2012.
In the third quarter of fiscal 2013, we recognized a gain of approximately $223,000 related to the change in the fair value of derivative warrants issued in connection with our June 2012 private placement. 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.
Other income was a loss of $8,500 in the third quarter of fiscal 2013 compared to a gain of approximately $10,000 in the third quarter of fiscal 2012 due to the effect of foreign currency rate adjustments. Net income for the third quarter of fiscal 2013 was $217,000 or $0.02 per basic and diluted common share, compared with a net loss of $519,000 or $0.05 per basic and diluted common share for the same period in fiscal 2012. Weighted-average basic shares outstanding increased to 11,883,042 in the third quarter of fiscal 2013 compared to 9,767,640 in the third quarter of fiscal 2012 which was primarily due to the issuance of shares of common stock in the June 2012 private placement, shares issued for the payment of interest on our convertible debentures, shares issued in connection with the conversion of our debentures and the shares issued under our employee stock purchase plan.
Financial Results for Nine Months Ended March 31, 2013
Revenue for the first nine months of fiscal 2013 totaled approximately $8.65 million compared to approximately $8.18 million for the first nine months of fiscal 2012, an increase of 6%. This increase was primarily attributable to an increase in the sales of custom optics, an increase in the sales of our industrial tool products and our entry in the digital projection market offset by slightly lower sales volumes in our collimator and isolator product lines. Growth in sales for the next several quarters is expected to be derived primarily from the precision molded lens product line, driven by the telecommunications sector’s need for expanded infrastructure to support mobile internet demand; our industrial tool business which benefited from an improving Chinese market; demand for fiber laser delivery systems; and our entry into the digital projection market.
The gross margin percentage in the first nine months of fiscal 2013 was 44%, compared to 34% for the first nine months of fiscal 2012. Total manufacturing costs of $4.89 million decreased by approximately $487,000 in the first nine months of fiscal 2013 compared to the same period of the prior fiscal year. This decrease in manufacturing costs, as compared to the same period of the prior fiscal year, is a result of a decrease of $271,000 in wages and a decrease of $268,000 in material and tooling costs offset by an increase of $38,000 in repairs and an increase of $33,000 in depreciation. Direct costs, which include material, labor and services, were 23% of revenue in the first nine months of fiscal 2013, as compared to 26% of revenue in the first nine months of fiscal 2012.
During the first nine months of fiscal 2013, total costs and expenses decreased by approximately $78,000 compared to the same period of the prior year. Selling, general and administrative expenses were $3.04 million for the first nine months of fiscal 2013 compared to $3.02 million for the same period in fiscal 2012. Total operating income for the first nine months of fiscal 2013 improved to approximately $4,000 compared to a loss of $1.04 million for the same period in fiscal 2012.
In the first nine months of fiscal 2013 we recognized a gain of approximately $488,000 related to the change in the fair value of derivative warrants issued in connection with our June 2012 private placement. 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.
Other income increased by approximately $23,000 to $67,000 in the first nine months of fiscal 2013 from approximately $44,000 in the first nine months of fiscal 2012. In the first nine months of fiscal 2013 we entered into license agreement in which we granted a license for our GRADIUM® product line to NHG for a $150,000 fee. We recognized $50,000 in income, in accordance with ASC 605-10.
Net income for the first nine months of fiscal 2013 was $459,000 or $0.04 per basic and diluted common share, compared with a net loss of $1.06 million or ($0.11) per basic and diluted common share for the same period in fiscal 2012. Weighted-average basic shares outstanding increased to 11,818,408 in the first nine months of fiscal 2013 compared to 9,758,233 in the first nine months of fiscal 2012 which was primarily due to the issuance of shares of common stock in the June 2012 private placement, shares issued for the payment of interest on our 8% convertible debentures, shares issued in connection with the conversion of our debentures and the shares issued under our employee stock purchase plan.
Cash and cash equivalents totaled approximately $1.40 million as of March 31, 2013. The current ratio as of March 31, 2013 was 3.57 to 1.00 compared to 3.59 to 1.00 as of June 30, 2012. Total stockholders’ equity as of March 31, 2013 was approximately $5.64 million compared to $4.00 million as of June 30, 2012.
As of March 31, 2013, our 12-month backlog was $5.01 million compared to $4.89 million as of June 30, 2012.
Investor Conference Call and Webcast Details:
LightPath will host an audio conference call and webcast on Thursday, May 2nd at 4:30 p.m. (ET) to discuss the Company's financial and operational performance for the third quarter of fiscal 2013.
Conference Call Details
Date: Thursday, May 2, 2013
Time: 4:30 p.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 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 and 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 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 loss on extinguishment of debt 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. 

Central Florida Disability Chamber of Commerce Meet & Greet on May 15, 2013 at the UCF Kissimmee Incubator