LightPath Technologies posts 10 per cent revenue growth

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Optical component manufacturer LightPath Technologies has announced a revenue of $3.13 million for the quarter, April to June, an increase of 10 per cent over the previous quarter.

‘We have been successfully penetrating high volume lower price applications and are experiencing a corresponding change in our operating performance. While our revenue has grown, our unit volume and gross margins have grown dramatically’ said Jim Gaynor, president and chief executive officer of LightPath. The company’s backlog, scheduled to ship within the next 12 months, is worth more than $4 million.