Brighter fiscal outlook for LightPath

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LightPath Technologies, a manufacturer, distributor and integrator of optical components and high-level assemblies, has announced improved financial results for the quarter ended 31 December 2012.

Highlights include:
•  Revenue for the second quarter of fiscal 2013 increased nine per cent to $2.92 million, compared to the second quarter of fiscal 2012; and

• Gross margin for the quarter was 43 per cent, the highest level since the fourth quarter of fiscal 2010, compared to 32 per cent in the second quarter of fiscal 2012.

Jim Gaynor, president and chief executive officer, said: ''Our revenue growth was led by the telecommunications sector, specifically the need for expanded infrastructure to support mobile internet demand, our industrial tool business which benefited from improving Chinese market, and our entry into the digital projection market, which is highlighted by the initial $1.1 million order we received from a new customer in November.'