| Over a month ago | ||||
Conference call with… Conference call with management to be held on May 22 hosted by B. Riley FBR. | ||||
| Over a quarter ago | ||||
A patent assigned to… A patent assigned to LightPath for a "novel and improved design pattern/method of a cost effective lens" for thermal imaging lenses was posted to the site of the USPTO. Reference Link | ||||
Shares of FLIR Systems… | ||||
B. Riley FBR analyst Marc… B. Riley FBR analyst Marc Wiesenberger upgraded LightPath Technologies to Buy from Neutral with a price target of $2.10, up from 75c. The company should benefit from the mass temperature screenings associated with COVID-19, Wiesenberger tells investors in a research note. | ||||
Sam Rubin, CEO of… Sam Rubin, CEO of LightPath, stated, "As the newly appointed CEO I am pleased to begin an important part of my responsibilities by communicating with our stockholders on behalf of the Company. Since I arrived, I have had conversations with our executives, other employees, as well as a number of customers, and it has increased my confidence in my decision to join LightPath. Over the next few months I will be continuing my evaluation of the Company and will put together a strategic framework that will be communicated in the summer of 2020. There certainly are issues that need to be addressed and an abundance of opportunities to be embraced. I am now even more confident that the Company will be able to manage a very successful path forward. Of course, there are always uncertainties, and the situation with the COVID-19 pandemic has certainly placed a new set of issues upon us that needs to be addressed. First, I would like to provide an update regarding the current impact of COVID-19 on LightPath and our business. Currently, all of our manufacturing facilities in China, Latvia and the U.S. remain open, and continue operations. We are taking all appropriate actions to keep our three manufacturing facilities operational, and to meet the production requirements of our customers. While, to date, we have not had any employee impacted, we have taken all precautions to ensure that our employees remain safe, and that our business operations continue. Like many other companies, all of our non-manufacturing employees located in the U.S. and Latvia have been asked to work from home, pursuant to the recommendations of local authorities. However, as an essential business, we are permitted to continue manufacturing production at these facilities. Where possible, we have staggered shifts to reduce contact within shifts and between different shifts, and have minimized interaction and physical proximity between employees working within the same building. Our China manufacturing facility continues to operate as normal. Additionally, in case our situation at any of our manufacturing facilities changes in the future, we have put in place contingency plans to minimize the dependencies between the various facilities, so that if any of our facilities are impacted, the remaining facilities can continue to operate with minimal impact. Second, while we have not seen any significant negative impact to our sales, we have also developed plans for balancing production capacity, minimizing expenses, and preserving cash, in case our sales are negatively impacted in a meaningful way." | ||||
LightPath Technologies… LightPath Technologies announced that Sam Rubin will join the company as president and CEO, effective March 9. He has also been appointed as a member board and will stand for election at the next annual stockholder meeting to be held in November. Rubin succeeds LightPath's current president and CEO, J. James Gaynor. Rubin was formerly General Manager at Thorlabs. | |
LightPath Technologies… LightPath Technologies announced that it has received a letter dated February 24 from The Nasdaq Stock Market notifying the company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). The letter noted that the company's Class A common stock had a closing bid price of at least $1.00 for a minimum of ten consecutive trading days from February 7 to February 21, and the company has regained compliance with the Bid Price Rule. Accordingly, Nasdaq considers the matter closed. | |
LightPath announced it… LightPath announced it has won a $1.14M purchase order for 2.7mm focal length thermal imaging lens assemblies from a technology integrator and original equipment manufacturer in East Asia and its partnership in the European Union. The 2.7mm focal length lens is a catalog solution adaptable to a variety of long-wave infrared thermal sensing applications. It utilizes several of LightPath's vertically integrated in-house capabilities. LightPath is expected to start monthly deliveries in April and fulfill the agreement ratably over 12 months, with production managed from the company's facilities in China. | |
LightPath Technologies… LightPath Technologies announced it has been awarded a $2.8M contract for 20,000 BD6 thermal imaging assembly units from a major defense contractor specializing in electro-optic and navigation systems. The contract will be fulfilled ratably over the next 24 months and will be completely manufactured in the Company's recently expanded facilities in Orlando, Florida. | |
Photonics West 2020 will… Photonics West 2020 will be held in San Francisco on February 1-6. |