| To: jkc who wrote (1202) | 12/6/2000 12:03:17 PM | | From: jkc | | | | LightPath Announces Expanded Collimator Supply Contract With Corning Incorporated
biz.yahoo.com
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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| To: jkc who wrote (1202) | 12/19/2000 3:13:38 PM | | From: Sir Auric Goldfinger | | | | Page 1 / 57
99 <GO> for story options Document Type: 424B2
<DOCUMENT>
<TYPE>424B2
<SEQUENCE>1
<FILENAME>e-5921.txt
<DESCRIPTION>FINAL PROSPECTUS OF LIGHTPATH TECHNOLOGIES
<TEXT>
Filed Pursuant to Rule 424(b)(2)
File No. 333-51474
PROSPECTUS
1,672,000 SHARES
OF CLASS A COMMON STOCK
LIGHTPATH TECHNOLOGIES, INC.
6820 Academy Parkway, N.E.
Albuquerque, New Mexico 87109
Telephone: (505) 342-1100
All of the shares of Class A Common Stock being sold are being offered and sold
by certain of our shareholders on a delayed or continuous basis, pursuant to the |
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| To: Rick Buskey who wrote (1207) | 3/2/2001 3:15:25 PM | | From: jkc | | | | Hi Richard, just now read your message. Although I didn't see them on the ask as you did, I wouldn't be surprised either. I'm not convinced the two - the recommendation and then the selling - are necessarily related in this case. I mean, couldn't someone unrelated just be selling through CEUT? The entire naz was miserable when it hit the teens.
On the upside... Lightpath becomes a more visible stock. Guess it's the price we have to pay. I think Lightpath has a terrific future ahead no matter what short term manipulation it might be subjected to. |
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| To: jkc who wrote (1208) | 3/2/2001 3:40:19 PM | | From: Rick Buskey | | | | Hi JKC-----how have you been?
LPTH---I still believe in the stock over the long term too------------just thought it was funny to see them reccomm. the stock in the low 20's and be there on the ASK in the $15's...............just an observation-----------------but then again,should we expect more from the ANALysts.
Rick |
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| To: Rick Buskey who wrote (1209) | 3/14/2001 11:11:09 PM | | From: jkc | | | | Hi Rick,
I'm still standing so maybe I should break out the champagne...
Infoclips from the yahoo thread just sent me this; nothing you don't already know, I'm sure, but it's always nice to hear.
redchip.com
The outlook for optical
[3/13/01 4:00 PM EST] The telecommunications business has been sending investors mixed messages lately. Expectations of slower capital spending are widespread. However, agreement about what levels are likely is not.
As negative earnings preannouncements flourish at an astonishing rate, some have projected growth in networking around 72% in 2001. Although this is down from 118% last year, wouldn’t this be strong growth for most sectors? Stock prices are not so ambiguous. The Amex North American Telecommunications Index has dropped 20% since January 2000, and many telecom companies are easily 50% off their 52-week highs.
Amidst all the froth and furor in the telecom sector, Ciena Corporation’s (Nasdaq: CIEN) recent prognostication that its outlook was much brighter than its older and larger brethren’s stands out. In 2001, Nortel expects revenue growth to be down to 15% from the 30% expected for the year as late as December. Debt-laden Lucent Technologies recently reported a 26% revenue drop. But at CIEN, management is estimating an extra 15% increase in revenue above already positive expectations. It attributes this enviable position to its emphasis on next-generation optical-networking equipment, which it said remains in demand even though general tech spending is well off its prior pace.
OK, who wouldn’t be a little curious? After all, if there is continued weakness, there could be quite an industry shakeout—do we have a survivor here? Maybe Hollywood writers for the reality TV hit “Survivor” should be taking notes. If telecom CEOs begin chasing wild pigs and take a sudden interest in voting, I say we get worried. But until then, how do we pick through the ruins of this beleaguered sector?
There just might be some opportunities. We’re obviously a long way from connecting the Earth’s inhabitants to speedy and efficient mass communications. As those of us who don’t stand a chance of getting DSL before it becomes obsolete will attest, the industry hasn’t even reached cruising altitude in terms of the technology to provide that service.
Backbone Strain
Our nation’s telecommunications infrastructure has its roots in voice networking that uses circuit-switched technology that provides each data stream with a dedicated channel via copper coaxial cable. It’s great for low bit-rate transmissions among fixed, symmetrical geographic locations exchanging relatively equal amounts of information. With the Internet, those dynamics have completely changed. In addition to being asymmetrical, online transmissions occur across multiple geographic locations in short, large bursts, and the increased volume is off the charts. Internet traffic is projected to increase from 350,000 tetrabytes per month at the end of 1999 to more than 15 million tetrabytes per month in 2003, according to consulting firm Ryan, Hankin & Kent—quite a leap.
Increasing the bandwidth is vital to accommodating this level of demand. Setting aside the yet-unmet technological challenge of marrying data and voice networking to acceptable standards, there’s widespread agreement that the optimal system for telecommunications would be a pure optical networking system. This technology uses light, or photons, to send data and voice traffic faster and more efficiently than the older, electronics-based technology deployed by phone. It is said to be the lowest-cost, highest-capacity format known. It uses laser-generated light to transmit sound or other data through the optical fibers in fiber-optic cables. Just as in an electronic system, sounds are translated into a digital signal, which is then coded into light. The smallest piece of information is a bit, which is communicated by the presence or absence of a pulse of light. Pulsing light carries messages on the optical fiber, which is composed of strands of glass. A single fiber strand, smaller in diameter than a human hair, can carry more than 1 million voice channels.
In addition to speed, immunity from electromagnetic interference has made fiber-optic systems the preferred solution for increasing network capacity. Fiber-optic cable has been the primary medium for long-haul telecommunications and cable television networks for the past 20 years. Undersea fiber-optic cables connect continents while terrestrial cables, or “trunk” lines, replace the traditional copper system as highways for telecom signals.
Not Quite There Yet
Unfortunately, a few obstacles stand in the way of achieving the dream of an optical network that goes everywhere.
The technology is young and still evolving. For instance, the ability to drop off and pick up transmissions optically has not yet been successfully developed. Most communications networks have to convert photons to electricity along the network, a costly and energy-consuming proposition. With the recent slowing of the capital flow to telecom companies, the technological development necessary to overcome such limitations is likely to be slowed.
Most importantly, the 49 million miles of fiber cable laid in the United States apparently aren’t enough to get the job done. The main gaps are in metropolitan areas, where the cost of laying the fiber is prohibitive. Opportunities to replace copper in the shorter-distance metropolitan markets, the lines from the “highways” to individual connections, have been limited. The cost is likely to be in the billions; after all, the first 49 million miles cost more than $71,000 per mile.
We are most likely to see fiber-cable service increases in large new housing developments, although some improvement is occurring in metropolitan access as well. In Albuquerque, for instance, robots have been sent into the sewers to install fiber to connect existing buildings.
Making the Best of It
In lieu of deploying new fiber-optic cable, telecommunications service providers have been upgrading existing systems to significantly increase the capacity of their fiber-optic networks. This is where CIEN has pinned its hopes by marketing advanced methods of transmitting multiple signals at slightly different wavelengths through a single fiber to achieve efficient use of fiber capacity.
The number of wavelengths carried over long-haul fiber has grown from about eight to over 160 separate channels. The increasing complexity of the design, experts say, has contributed to the need for additional telecom system suppliers and, consequently, is an ideal situation for outsourcing. This is where many of our small-cap players—makers of such devices as routers, amplifiers and multiplexers—come in. As this dynamic industry evolves, the most successful component makers must have the capacity to integrate their technology not only with current systems, but with the next generation as well.
While we can now appreciate the need for CIEN’s products, they are not alone in this space, competing with names such as Nortel, Alcatel and Fujitsu. CIEN’s differentiation, the company says, is in providing value-based products that allow service providers to increase the capacity of their existing systems, an important fixed-cost reducer and productivity-enhancing tool during recessionary times. Another advantage is that CIEN’s market does not include the antiquated, low-margin telephone networks.
Clearly, optical has the capacity to significantly lower provider costs. CIEN management believes that the application of its multiplexing product has led to a bandwidth price decline of up to 80% since 1995. However, the heavy debts, limited cash, overcapacity and inventory overhang that haunt this industry cannot be taken lightly. Careful stock picking in this sector is crucial. As for CIEN, regardless of the potential of its value-based counter-cyclical strategy, with a market cap over $20 billion, it’s not on our radar.
However, due to volatility in this sector, a few of the larger up-and-coming optical components manufacturers have come down enough in market cap to enter the realm of RedChip™. Avanex Corporation (Nasdaq: AVNX) makes fiber-optic-based products known as photonic processers. It’s dramatically off its 52-week high of $273.50, resting at $22.38. New Focus, Inc. (Nasdaq: NUFO) makes amplifiers. Selling at $17.94, it’s also well off its high of $163.12. Analysts appear to be pretty well split as to whether these are strong or moderate buys, with some dissenting holds.
Proponents of the pure optical solution warn that the current fiber-optic system, which is managed to optimize the existing fiber, is increasingly complex and vulnerable to breakdowns. So, as you gingerly stock-pick your way through this sector, keep your eye on the next next generation of fiber optics—all-photonic networking. Scientists at MIT are working on a system that carries information inside the laser itself. This system would be expected to increase transfer capacities to 100 Gbps (billions of bits per second) using a totally frictionless stream of pure light.
It’s a dream not likely to die soon.
Shelley G. Reed, CFA, RedChip™ contributing editor |
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