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Technology Stocks : Lightpath Technologies: LPTH New WDM player
LPTH 1.220-4.7%3:59 PM EDT

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To: jkc who wrote (1202)12/6/2000 12:03:17 PM
From: jkc  Read Replies (1) of 1218
LightPath Announces Expanded Collimator Supply Contract With Corning Incorporated

Wednesday December 6, 8:00 am Eastern Time
Press Release
SOURCE: LightPath Technologies, Inc.

LightPath Announces Expanded Collimator Supply Contract With Corning Incorporated

ALBUQUERQUE, N.M., Dec. 6 /PRNewswire/ -- LightPath Technologies, Inc. (Nasdaq: LPTH - news), manufacturer of families of high performance fiber optic components for the telecom industry, announced today that it has signed a follow-on agreement with Corning Incorporated (NYSE: GLW - news) outlining specification criteria and delivery expectations for LightPath's large beam collimators for the next two years. LightPath previously announced in May 2000 that it had been selected as the primary supplier of this customized collimator built specifically for Corning's PurePath(TM) Wavelength Selective Switch and over the past six months have shipped approximately $1 million in product. Under the terms of this agreement, deliveries for the next 12 months are projected to be approximately $3.3 million with delivery levels for the following 12 months to be determined at a later date.

Steve Barna, LightPath Vice President of Marketing and Sales, commented, ``I am pleased with the expansion of orders from Corning and our opportunity to provide an integral component of their switch product. Our efforts to broaden our telecom optical component offerings and expand our manufacturing capacity to handle larger volume orders will continue to pay off as our business grows. With one month left in the current quarter, our sales bookings continue to reflect positive quarter-to-quarter growth.''

LightPath manufactures its proprietary collimator assemblies, GRADIUM® glass products and other optical telecommunications products at its headquarters in Albuquerque. The Company's subsidiaries, Horizon Photonics and Geltech, manufactures isolator products utilizing proprietary automation technology in Walnut, California, and precision molded aspherical optics used in the active telecom components market in Orlando, Florida and Auburn, California. Additionally, Geltech has a unique and proprietary line of all- glass diffraction gratings (StableSil®) for telecom applications as well as a product family of Sol-Gel based waveguides. The Company also has an office in Warren, New Jersey for the purpose of developing various optical switch products. The Company has 46 U.S. patents, plus 8 more pending, associated with its optical technologies. In addition, various foreign countries have issued a total of 18 patents with 28 patents pending. LightPath common stock trades on the Nasdaq National Market under the stock symbol LPTH.

This news release includes statements that may 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.

SOURCE: LightPath Technologies, Inc.

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