PR Newswire
ORLANDO, Fla., Oct. 10, 2024
Company to Host Meetings with Both Prospective Customers and End-Users to Discuss LightPath's Next-Generation Optics and Imaging Systems in Mission Critical Defense Applications
ORLANDO, Fla., Oct. 10, 2024 /PRNewswire/ -- LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," or "we"), a leading provider of next-generation optics and imaging systems for both defense and commercial applications, today announced its participation at the Association of the United States Army ("AUSA") 2024 Annual Meeting and Exposition, taking place October 14-16, 2024, in Washington D.C.
The AUSA Annual Meeting is the largest land power exposition and professional development forum in North America, designed to deliver the Army's message by highlighting the capabilities of organizations and presenting a wide range of industry products and services. AUSA accomplishes this task by providing informative and relevant presentations on the State-of-the-Army, panel discussions and seminars on pertinent military and national security subjects, and a variety of valuable networking events available to all that attend.
"The AUSA Annual Exposition is one of the premier events in the defense industry, providing us the opportunity to meet with leaders, innovators, and stakeholders from across the military and defense sectors," said Sam Rubin, President and Chief Executive Officer of LightPath. "As a leading optics and imaging systems solutions provider to the defense industry, we expect to introduce current and prospective customers to our portfolio of next-generation products leveraging our proprietary BlackDiamond™ glass.
"We also look forward to providing an update to attendees on our recently received qualification of our advanced thermal camera system by Lockheed Martin as part of its bid to produce a design of a major missile program for the US Army. We are now starting delivery of flightworthy hardware for implementation into Lockheed Martin's initial live test units. Initially, it was expected that the U.S. Army would make a selection on a final solution for the Program and move into production with 10,000 units by 2028; however, it has been announced that a decision to move the program into production is now expected by 2026. Collectively we believe this program represents a revenue opportunity of between $500 million and $1 billion over the life of the program, based on volumes from legacy programs implemented by the U.S. Army."
About LightPath Technologies
LightPath Technologies, Inc. (NASDAQ: LPTH) is a leading provider of next-generation optics and imaging systems for both defense and commercial applications. As a vertically integrated solutions provider with in-house engineering design support, LightPath's family of custom solutions range from proprietary BlackDiamond™ chalcogenide-based glass materials – sold under exclusive license from the U.S. Naval Research Laboratory – to complete infrared optical systems and thermal imaging assemblies. The Company's primary manufacturing footprint is located in Orlando, Florida with additional facilities in Texas, Latvia and China. To learn more, please visit www.lightpath.com.
Forward-Looking Statements
This press release includes statements that constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "forecast," "guidance," "plan," "estimate," "will," "would," "project," "maintain," "intend," "expect," "anticipate," "prospect," "strategy," "future," "likely," "may," "should," "believe," "continue," "opportunity," "potential," and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are based on information available at the time the statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the impact of varying demand for the Company products; the ability of the Company to obtain needed raw materials and components from its suppliers; actions governments, businesses, and individuals take in response to the pandemic, including restrictions on onsite commercial interactions; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; geopolitical tensions, the Russian-Ukraine conflict, and the Hamas/Israel war; the effects of steps that the Company could take to reduce operating costs; the inability of the Company to sustain profitable sales growth, convert inventory to cash, or reduce its costs to maintain competitive prices for its products; circumstances or developments that may make the Company unable to implement or realize the anticipated benefits, or that may increase the costs, of its current and planned business initiatives; and those factors detailed by LightPath Technologies, Inc. in its public filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on 10-Q. Should one or more of these risks, uncertainties, or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, we do not have any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
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