National Entrepreneur Center Releases Economic Impact Report

August 13, 2015
News Release
For Immediate Release

National Entrepreneur Center Releases Economic Impact Report
Report Praises Center as a Best Practice for Economic Development

(Orlando, FL) — The National Entrepreneur Center (NEC) released today the findings of its latest economic impact study, which indicated a return on investment (ROI) of $14.00 for every dollar invested in the NEC since 2003.  Austin-based Angelou Economics (AE) - an economic research and analysis firm which works with public and private sector clients both domestically and internationally - conducted the study to measure the economic impact of the NEC the local and state economies.

“We chose Angelou Economics because of their experience in the field, and their reputation for thoroughness,” said Jerry Ross, Executive Director of the NEC.  “We can point to many success stories over our last 12 years, however, we needed help to statistically evaluate the overall economic impact to the Central Florida region and the State of Florida,” said Ross.

The study evaluated five economic impact areas of the NEC: 1) perceived value to entrepreneurs; 2) value provided to the resident resource partners; 3) increased mall revenues; 4) ongoing operations and 5) capital infrastructure investment.  The study also calculated impacts derived from indirect and induced economic effects of the NEC.  The review consisted of on-site interviews, the NEC's historical performance, public data from a variety of sources, and the application of economic modeling software.

“We have always known that the NEC does a great job, and now we have the statistics to prove it,” says Marianne Amato, Regions Bank Executive and NEC Board Chair.

According to the Angelou Economics Report, the NEC’s impact to Florida since 2003 incudes:

• $187.6 million in total economic output
• $58.4 million generated in labor income
• 1,000 jobs created or sustained
• $77.3 million in revenues for Florida retailers
• $8.6 million in state and local tax revenues

"Supporting entrepreneurs through innovative training and providing access to resources is vital," said Orange County Mayor Teresa Jacobs. "Particularly for a thriving region like Central Florida, where our economy has benefited by $14 for every single dollar invested in the NEC, the return on investment is clear."

The NEC operates as public/private partnership and is funded by local sponsors, which includes: Orange County Government, the City of Orlando, UCF, and Walt Disney World. According to the report, “the NEC has proven to be a successful model, transcending beyond Orlando and even the state of Florida. This is made evident from the fact that the NEC has hosted visitors from throughout the U.S. that have taken an interest in duplicating the NEC’s model.”

“The National Entrepreneur Center has attracted national and international attention because it works!” explains Dr. Tom O’Neal, NEC board member and Associate Vice President for UCF’s Office of Research and Commercialization, which acts as the fiscal agent for the NEC. “This report just confirms that the National Entrepreneur Center is where business happens in Central Florida,” remarked Dr. O’Neal.

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About the National Entrepreneur Center
Founded in 2003, the National Entrepreneur Center (NEC) operates as a public/private partnership catalyzing entrepreneurial growth in Orlando, the state of Florida, and across the nation. The NEC is home to a variety of independent, non-profit organizations offering free business coaching, low-cost training and resources designed to accelerate the growth and development of small businesses. In addition to creating a nationally recognized business development model, NEC resource partners have collectively coached and trained more than 150,000 business people, and facilitated more than $150 million in small business loans since its inception in 2003. For more information, visit http://www.nationalec.org. 

About UCF:
The University of Central Florida (UCF), the nation's second-largest university with more than 60,000 students, has grown in size, quality, diversity and reputation, and today the university offers more than 200 degree programs at its main campus in Orlando and more than a dozen other locations. Known as "America's Leading Partnership University®", UCF is an economic engine attracting and supporting industries vital to the region's success now and into the future. For more information, visit http://today.ucf.edu.

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

LightPath Technologies Announces Preliminary Fourth Quarter Financial Results for Fiscal 2015 Fourth Quarter Revenue Growth Expected to be Within the Range of 38% to 45%* For Immediate Release: ORLANDO, FL – August 6, 2015 -- LightPath Technologies, Inc. (“LightPath,” the “Company” or “we”) (NASDAQ: LPTH), a leading vertically integrated global manufacturer,distributor and integrator of proprietary optical and infrared components and high-level assemblies, today announced preliminary financial results for the fiscal 2015 fourth quarter ended June 30, 2015, and the scheduling of a conference call and simultaneous webcast onSeptember 3, 2015 to discuss the Company’s financial and operational results for such period. Preliminary Financial Results for Fourth Quarter of Fiscal 2015: The Company expects to report revenue in the range of $4.3 million to $4.5 million for the fourth quarter of fiscal 2015, an increase of between 38% and 45%, as compared to the fourth quarter of fiscal 2014. ​ Cash on hand as of June 30, 2015 was approximately $1.64 million, an increase of nearly 37% as compared to $1.20 million on June 30, 2014, and an increase of nearly 55% as compared to approximately $1.06 million on March 31, 2015. ​ Backlog scheduled to ship within the next 12 months was approximately $6.49 million as of June 30, 2015, an increase of approximately 53%, as compared to June 30, 2014.  Jim Gaynor, President and Chief Executive Officer of LightPath, stated, “As indicated by these preliminary results, we had an excellent fiscal 2015 fourth quarter.  This performance improved upon a very good third quarter and reflects the actions taken in the first half of fiscal 2015 to accelerate sales and improve our operating efficiency.  Momentum in bookings earlier in the year has continued to accelerate in the fourth quarter, which bodes well for revenue growth in future periods.  Order bookings continued to improve from the third quarter with particular strength in our specialty products and infrared product groups.  Bookings for the fourth quarter of fiscal 2015 were approximately $4.6 million, an increase of 63% as compared to the same quarter in fiscal 2014.  Driven by the growth in our backlog during the course of the fiscal year, revenue for the fourth quarter of fiscal 2015 increased significantly as compared to the prior year.  It is important to note that during the fourth quarter not only did we benefit from enhancements to our sales programs and strategic growth initiatives announced earlier in the year, but our performance was further bolstered by several project-specific opportunities totaling approximately $400,000.  While the confluence of these factors led to a very strong fourth quarter, we expect continued growth at a more normalized pace which is both faster than the market and at a rate that exceeds the increase of nearly 15% which is expected for fiscal 2015.” Gaynor continued, “Despite the effects of the weaker economy in China that impacted a part of our low cost molded optics business, our global diversification strategies have enabled us to overcome certain challenging macroeconomic forces and resulted in revenue growth and increased shipments across all other business segments and major markets.” Investor Conference Call and Webcast Details: Date: Thursday, September 3, 2015 Time: 4:30 PM (ET) Dial-in Number: 1-800-860-2442   International Dial-in Number: 1-412-858-4600  Webcast: http://services.choruscall.com/links/lpth150903 Participants are recommended to dial-in or log-on approximately 10 minutes prior to the start of the event. A replay of the call will be available approximately one hour after completion through September 18, 2015. To listen to the replay, dial 1-877-344-7529 (domestic) or 1-412-317-0088 (international), and enter conference ID # 10070696. *The financial results reported herein are unaudited and subject to change. About LightPath Technologies LightPath Technologies, Inc. (NASDAQ: LPTH) provides optics and photonics solutions for the industrial, defense, telecommunications, testing and measurement, and medical industries. LightPath designs, manufactures, and distributes optical and infrared components including molded glass aspheric lenses and assemblies, infrared lenses and thermal imaging assemblies, fused fiber collimators, and gradient index GRADIUM® lenses. LightPath also offers custom optical assemblies, including full engineering design support.  For more information, visitwww.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                            Dorothy Cipolla, CFO                      Jordan Darrow LightPath Technologies, Inc.                             LightPath Technologies, Inc.         Darrow Associates, Inc.

TOMORROW! Seminar: “Tutorial on aspheric optics” by Dr. Ulrike Fuchs 8.7.15/12:00-1:00pm/ CREOL RM 103

Seminar: “Tutorial on aspheric optics” by Dr. Ulrike Fuchs

Friday, August 7, 2015 12:00 PM to 1:00 PM
CREOL Room 103

“Tutorial on aspheric optics”

Dr. Ulrike Fuchs

Head of Applications at asphericon GmbH

Celebrating the International Year of Light 2015

Abstract:

Aspheres are becoming more and more popular in optical design of lens systems. This trend is caused by the demand to reduce size and

weight or even novel optical performance, which cannot be obtained with spherical designs only. This demand lead to innovative manufacturing

processes for serial production of aspheric surfaces of high quality. However, due to the type of surface form deviation introduced

by CNC based grinding and polishing processes, tolerancing an optical system with aspheric surfaces becomes very challenging.

Especially for serial production one should avoid over-specification since this is a critical price booster. This talk will discuss how aspheres can be

employed meaningful in optical design and how tolerances have to be determined with. Special attention will be paid to surface form

deviation and slope errors, which are unique to aspheric surfaces.

Biography:

Ulrike Fuchs studied physics at the Friedrich-Schiller University in Jena, majoring in optics in 2004.

Her diploma thesis addressed ultrashort pulse propagation in complex optical system and optical design.

Subsequently, she pursued her PhD in physics with a scholarship of the German National Academic Foundation at Fraunhofer IOF in Jena and received her doctor‘s degree in 2009.

Postdoctoral, Ulrike Fuchs worked as research associate at Fraunhofer IOF at the micro-optical department and as assistant lecturer at the Abbe School of Photonics.

In 2010 she joined asphericon as optical designer and became head of department in 2012. Ulrikes current position includes all research

and development activities as well as optical design with respect to the available manufacturing processes and vice versa.

Contact:

Sabrina Matthias

SPIE Student Chapter Faculty Talk Series: "The Modern World – We Owe It To Physics" by Dr. Michael Bass 8.21.15/1:30-2:30 pm/ CREOL RM 102/103

SPIE Student Chapter Faculty Talk Series: "The Modern World – We Owe It To Physics" by Dr. Michael Bass

Friday, August 21, 2015 1:30 PM to 2:30 PM
CREOL Room 102/103

Celebrating the International Year of Light 2015

 

Michael Bass

Emeritus Professor, CREOL the College of Optics and Photonics

Abstract:

In the 1990’s, together with a colleague from the Philosophy department and having read James Burke’s book “Connections”, we put together an honors college course called “The Culture of Science”. That course was very successful.  I gave a shortened version of it as a lunchtime series at CREOL, and it morphed into the course I now give at CREOL called the “History of Science”.  It seems some other department has dibs on the word ‘culture’.  As the course evolved, as do all things, I realized that physics was responsible for the modern world in ways that are only obvious when someone explains the connections. I will try to do that in this talk.

Biography:

Michael Bass received his PhD in Physics from the University of Michigan and is Professor Emeritus of Optics at UCF. His current research interests are in modeling high power optically pumped, solid-state lasers, thermal management of high power diode laser pump sources, the use of volume Bragg gratings in solid state laser resonators, and novel, all optical two and three dimensional displays. Dr. Bass is a Fellow of both the Optical Society of America and the IEEE.

For additional information: 

Md Javed Rouf Talukder