LightPath Technologies, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended December 31, 2023
February 08, 2024 at 04:10 pm EST
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LightPath Technologies, Inc. reported earnings results for the second quarter and six months ended December 31, 2023. For the second quarter, the company reported sales was USD 7.32 million compared to USD 8.47 million a year ago. Net loss was USD 1.71 million compared to USD 0.694061 million a year ago. Basic loss per share from continuing operations was USD 0.05 compared to USD 0.03 a year ago. Diluted loss per share from continuing operations was USD 0.05 compared to USD 0.03 a year ago.
For the six months, sales was USD 15.39 million compared to USD 15.84 million a year ago. Net loss was USD 3.06 million compared to USD 2.07 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to USD 0.08 a year ago. Diluted loss per share from continuing operations was USD 0.08 compared to USD 0.08 a year ago.
LightPath Technologies, Inc. is a vertically integrated provider of optics, photonics and infrared solutions for the industrial, commercial, defense, telecommunications, and medical industries. The Company designs and manufactures optical and infrared components, including molded glass aspheric lenses and assemblies, custom molded glass freeform lenses, infrared lenses and thermal imaging assemblies, fused fiber collimators, and Black DiamondTM (BD6) chalcogenide-based glass lenses. Its business is organized into three product groups: Precision molded optics (PMO), infrared products and specialty products. Its PMO product group consists of visible precision molded optics with varying applications. Its infrared product group is comprised of infrared optics, both molded and diamond-turned, and thermal imaging assemblies. Its specialty product group is comprised of value-added products, such as optical subsystems, assemblies, collimators, and non-recurring engineering (NRE) products.