SOURCE: LightPath Technologies

LightPath Technologies

April 29, 2014 09:00 ET

LightPath Technologies Announces Significant Contract to Supply Customized Optics for Renishaw

ORLANDO, FL--(Marketwired - Apr 29, 2014) - LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company" or "we"), a leading vertically integrated global manufacturer, distributor and integrator of proprietary optical components and high-level assemblies, announced today, that it has been awarded a multiyear contract to supply precision molded aspheric lenses for UK-based Renishaw through its European master distributor AMS Technologies AG. The lenses will be used in Renishaw's state of the art optical encoder product line.

Jim Gaynor, CEO of LightPath Technologies, commented, "We are pleased to be working with a recognized high tech market leader such as Renishaw. This new purchase order, for optics that were custom designed for optimal performance in their instruments, is the result of several years of collaboration between our companies and demonstrates the mutual respect and trust that has been established between the companies as relates to technical capability, quality products and service."

Rob Parkes, Sales and Marketing Manager of Renishaw's Encoder Product Division added, "The fully customized solutions offered by LightPath and AMS Technologies help give us a competitive advantage in the marketplace. We look forward to working with LightPath and AMS Technologies and continuing to grow our partnership in the future."

Damian McGillivary, of AMS Technologies, emphasized the good cooperation between all parties and feels confirmed that the in-depth technical understanding of his team helped to implement this important project. "We took active control in the design cycle by managing this project through various rounds of specifications and prototypes, leading to a highly specific, customized solution for Renishaw. LightPath is a long time trusted partner for us delivering custom optical solutions into our broad European customer base."

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, visit www.lightpath.com .

About Renishaw:

Renishaw is a world leading engineering technologies company, supplying products used for applications as diverse as jet engine and wind turbine manufacture, through to dentistry and brain surgery. It employs over 3,300 people globally, some 2,200 of which are located at its 15 sites in the UK, plus over 1,100 staff located in the 32 countries where it has wholly owned subsidiary operations.

The Company's success has been recognized with numerous international awards, including sixteen Queen's Awards recognizing achievements in technology, export and innovation.

About AMS Technologies:

AMS Technologies is Europe's leading solution provider and distributor for Optical, Power and Thermal Management Technologies. With an appropriate technical education, an element of entrepreneurial spirit and many years of design and consultancy expertise, our sales engineers can rapidly comprehend system requirements and provide you the customer with a solution that goes way beyond a simple understanding of our product datasheets.

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.

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