Date Announced: 23 Oct 2018
Sector recovering, suggests CEO Jim Gaynor.
ORLANDO, FL / ACCESSWIRE / October 23, 2018 / LightPath Technologies, Inc. (LPTH) ("LightPath," the "Company," or "we"), a leading vertically integrated global manufacturer, distributor and integrator of proprietary optical and infrared components and high-level assemblies, today announced it has been awarded a production order valued at over $400,000 from a leading Asian telecommunications and data networking original equipment manufacturer. LightPath's precision molded visible optics (PMO) will be used in the customer's transmission and receiving equipment for next-generation high speed, 5G optical networks.
"We are very pleased to have received this order from a longstanding customer which continues to rely on our optical technologies as the industry requires faster speeds and higher quality of data transport," said Jim Gaynor, President and Chief Executive Officer of LightPath. "While our Telecommunications/Networking vertical market has been on the downward side of the cycle for over 4 quarters, today's order is a strong signal that the sector is recovering and, as we have said, 5G network requirements is one of the growth drivers."
"Within the past 2 years we have worked on over 40 engineering projects related to the development of 5G technologies for some of the largest telecommunications OEMs in the world. We have made the requisite investments in product development, manufacturing capacity and personnel such that we are ready to respond to industry demand for cutting edge optical technologies."
Manufacturing of the optical lenses for the order announced today will take place in LightPath's Zhenjiang, China facilities, with deliveries expected to begin immediately through mid-2019. The lenses are expected to be used for coupling and/or collimating laser light signal between optical fibers and decoders to increase the transmission efficiency and speed of data transport.
Source: LightPath Technologies
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Web Site: www.lightpath.com