LightPath Technologies Announces New Orders for 500,000 Lenses From HDOEI

Date Announced: 26 Feb 2014

Chinese customer places huge order.

ORLANDO, FL--(Marketwired - Feb 26, 2014) - LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company" or "we"), a leading vertically integrated global manufacturer and distributor of proprietary optical components and high-level assemblies, announced today it has received new orders from laser component manufacturer Changzhou Huada Kejie Opto-Electro Instrument CO., LTD ("HDOEI") for approximately 500,000 molded aspheric lenses. The Company expects to deliver these lenses to HDOEI over a 12-month period.

HDOEI, located in Changzhou, Jiangsu Province, China, manufactures laser surveying instruments and accessories for Fortune 500 construction engineering companies worldwide. The lenses being sold to HDOEI were selected from LightPath's aspheric lens laser tool line. The strong demand for this laser tool line lens product was one of the major drivers in LightPath's recently announced decision to open its second high volume production facility in China.

Jim Gaynor, CEO of LightPath Technologies, commented, "We are very pleased to be working with HDOEI, a market leader in laser surveying equipment manufacturing. These new orders further demonstrate our capabilities in providing a low cost platform for the manufacture of high precision glass molded aspheres."

Mr. Ou Zhang, General Manager and CEO of HDOEI, added, "We are pleased to have the opportunity to continue to expand our business and strengthen our partnership with LightPath. Utilizing LightPath's molded aspheres to replace traditional spherical lenses allows us to reduce our component count, reduce assembly labor time, and build more compact and higher performance laser modules to serve our customers. We look forward to a continued partnership with LightPath in the future."