Attached files
| file | filename |
|---|---|
| 8-K - CURRENT REPORT - LIGHTPATH TECHNOLOGIES INC | form_8-k.htm |
|
|
|
 |
LIGHTPATH TECHNOLOGIES, INC. (NASDAQ: LPTH) FEBRUARY
2010
|
|
|
|
 |
Orlando Headquarters (manufacturing, engineering,
direct sales) China Facility (manufacturing, engineering, direct sales)
Direct sales o Publicly traded since Feb 1996 (NASDAQ: LPTH) Catalog
Distributors o Presently 51 employees USA, 92 employees China
Representatives o Headquartered in Orlando, Florida o 58 US Patents Issued
o OEM Sales - Orlando, FL - Huntsville, AL - Phoenix, AZ - Shanghai, China
o Reps / Distributors: US, Canada, Europe, Israel, China, Japan, Korea,
India, Singapore, Thailand, Malaysia, Hong Kong, Philippines o ITAR DTC
Code 090617976 o GSA Contract Number is GS-35F-0425S
|
|
|
|
 |
Our Facilities ORLANDO, FL o 22,500 square feet o 6,000
sq. ft. of clean room o ISO 9001-2000 Registered o Sales & Marketing
for US and Europe o Research & Development o Manufacturing - PMO -
Prototype, Small Volume and ITAR Projects. - Molded Infrared Optics
JIADING, CHINA o LightPath Optical Instrumentation (Shanghai) Co., Ltd. -
Wholly owned facility of LightPath Technologies USA o 17,000 sq. ft. o
7,000 sq. ft. of Clean Room o ISO 9001-2000 Certified o Sales - Asia sales
headquarters o Purchasing - Material consolidation o Manufacturing - High
volume, higher labor content, low labor cost o Products - Precision Molded
Aspheric Optics, GRADIUM, Isolators, Optical Assemblies
|
|
|
|
 |
Company Overview o We are a low cost, high volume
designer, manufacturer, developer and distributor of optical components
and high-level assemblies o We have a diversified product base - Glass
aspheric optics-visible and infrared - Collimators, isolators, mounted
lenses - GRADIUM glass lenses - Build Products that Manage Light o New
Business Strategy - Reduced Cost Structure - Expand Served Markets o Laser
Applications - Telecom and Data Communications, Industrial Tools,
Micro-projectors o Infra Red Optics - Thermal Imaging, Sensors, Security o
FTTH - Internet, HDTV, Smart Phones, Cloud computing o We operate in two
facilities - 22,000 sq. ft. facility in Orlando, FL - 16,000 sq. ft.
facility in Shanghai, China o Strong IP portfolio of 58 U.S. patents
|
|
|
|
 |
Shanghai Production Floor
|
|
|
|
 |
Business Evolution Labor - China Press - New Viper
Holders - In House Labor - China Tooling - Hard Press - New Viper Glass -
Low Cost China Holders - In House Coating - Volume Tooling - Soft Labor -
USA Glass - ECO550 Press - Air & Glove Box Coating - Small Runs 2009
& Holders - Outsourced Beyond Tooling - Soft Glass - CO550 2008
Coating - Small Runs Prior to 2008 We have significantly reduced costs by
shifting 95% of total manufacturing production to China, moving more
production to lower cost glass, improving our tooling process and
converting to ceramic based tooling. These changes resulted in an order of
magnitude reduction of our costs.
|
|
|
|
 |
Products o Precision Molded Optics - All-glass aspheric
Lenses, RoHS compliant - Diameters 200um to 25mm, NA up to 0.85 o Molded
MWIR/LWIR Aspheric Lenses & Assemblies - Wavelength range of glasses
1- 14um - Single & multi element assembly with Athermalized design o
Valued Added Products - Mounted Aspheres, OEM Modules, Shaped Lenses o
Speciality Products - Gradium Optics - Optical Isolators and Isolator
Assemblies - Collimators
|
|
|
|
 |
Competitive Advantage Growth - World Class Design
Centers in US and Asia - Recognized Brand - Capacity in Place Responsive -
Quick to Market - Quick to Volume - Flexible Process (Machines - Tools -
Glass) - Proprietary Technology Low Cost - Low Operating Cost China
Facility - Supply Agreement with CDGM Glass Company - Low Design cost
technology - (MIP, Hybrid)
|
|
|
|
 |
Key Market Overview Market Opportunity Targeted o
Thermal Imaging Market - to exceed $2.5B o Consumer Market for Micro
Projectors - to exceed $1.1B o Laser Tool Market - to exceed $50M o FTTH
Market - to exceed $60M o Market Drivers: o Digital Cameras, Security,
Sensors o Laser Projectors o Industrial Laser Tools o Internet, HDTV,
Smart Phones, Cloud Computing o Asphere Market Expected to exceed $1.5B
within 5 years o Asphere vs. Spherical Lens Solution o Performance o
Simplicity o Packaging
|
|
|
|
 |
Management Team J. James Gaynor, Chief Executive
Officer - Mr. Gaynor was appointed Interim Chief Executive Officer on
September 18, 2007 and President & CEO on February 1, 2008. He
formerly was the Corporate Vice President Operations since July 2006. Mr.
Gaynor is a mechanical engineer with 25 years of business and
manufacturing experience in volume component manufacturing in electronics
and optics industries. Prior to joining LightPath from August 2002 to July
2006, Mr. Gaynor was Director of Operations and Manufacturing for Puradyn
Filter Technologies. Previous to that he was Vice president of Operations
and General Manager for JDS Uniphase Corporation's Transmission Systems
Division from March 2000 to April 2002. He has also held executive
positions with Spectrum Control, Rockwell International and Corning Glass
Works. His experience includes various engineering, manufacturing and
management positions in specialty glass, electronics, telecommunications
components and mechanical assembly operations. His global business
experience encompasses strategic planning, budgets, capital investment,
employee development, cost reduction, acquisitions and business start-up
and turnaround success. Mr. Gaynor holds a Bachelors of Science degree in
Mechanical Engineering from the Georgia Institute of Technology and has
worked in manufacturing industries since 1976. Dorothy Cipolla, Chief
Financial Officer - Ms. Cipolla has been Corporate Vice President, Chief
Financial Officer, Secretary and Treasurer since February 2006. Ms.
Cipolla has served as a CFO for both public and private companies. Ms.
Cipolla was Chief Financial Officer and Secretary of LaserSight
Technologies, Inc., from March 2004 to February 2006. Prior to joining
LaserSight, she served in various financial management positions. From
1994 to 1999, she was Chief Financial Officer and Treasurer of Network
Six, Inc., a NASDAQ-listed professional services firm. From 1999 to 2002,
Ms. Cipolla was Vice President of Finance with Goliath Networks, Inc., a
privately held network consulting company. From 2002 to 2003, Ms. Cipolla
was Department Controller of Alliant Energy Corporation, a regulated
utility. She received a Bachelor of Science degree in Accounting from
Northeastern University and she is a certified public accountant in
Massachusetts. Robert Ripp Chairman of the Board - Mr. Ripp has served as
Chairman of LightPath since November 1999. During portions of fiscal years
2002 and 2003 he also served as the Company's Interim President and Chief
Executive Officer. Mr. Ripp was Chairman and CEO of AMP Incorporated from
August 1998 until April 1999, when AMP was sold to TYCO International Ltd.
Mr. Ripp held various executive positions at AMP from 1994 to August 1999.
Mr. Ripp previously spent 29 years with IBM of Armonk, NY. He held
positions in all aspects of operations within IBM culminating in the last
four years as Vice President and Treasurer and he retired from IBM in
1993. Mr. Ripp graduated from Iona College and received a Masters of
Business Administration from New York University. Mr. Ripp is currently on
the board of directors of Ace, Ltd. and PPG Industries, all of which are
listed on the New York Stock Exchange. Mr. Ripp also serves on the
Company's Compensation and Finance Committees.
|
|
|
|
 |
Financial Highlights Q1 2009 $2,450 o Revenue (In
Millions) Q2 2009 $2,200 o With our new strategy in place, we have Q3 2009
$1,950 successfully cut costs therefore Q4 2009 $1,700 increasing gross
profit and margin Q1 2010 $1,450 Q2 2010 $1,200 o Currently we are
utilizing 41% capacity Q1 2009 45% o Many of our costs are fixed and will
be Q2 2009 40% absorbed as sales increase, further Q3 2009 35% increasing
our gross profit and margin Q4 2009 30% Q1 2010 25% o Gross Profit Margin
% Q2 2010 20% 15% 10%
|
|
|
|
 |
Investment Highlights o Low cost, high volume
manufacturer of optical components o US public company with wholly owned
China manufacturing facility o Low Cost Manufacturing Platform o Access to
Asian market o Strategy - Low Cost Structure / Access New Markets o
Thermal Imaging, Industrial Laser Tools, FTTH o Growth strategy - China
facility is currently at 41% capacity o Increase revenue with little
capital expenditure o Diversified product mix o Strong IP Portfolio - 58
U.S. patents issued o Competitive advantage o Quick to market, quick to
volume, world class designer, etc. o Large market opportunity
|