Lightpath Technologies, Inc. · NASDAQ:LPTH
Lightpath Technologies — Shareholder Meeting (January 2014)
24 slides from Lightpath Technologies's shareholder meeting presentation, Jan 30, 2014
Slide 1: Company Presentation Annual Shareholder Meeting
L IGHT P ATH T ECHNOLOGIES , I NC . (NASDAQ: LPTH) C OMPANY P RESENTATION A NNUAL SHAREHOLDER M EETING J ANUARY 30, 2014
Slide 2: Safe Harbor Statement
Leaders in optical and infrared solutions S AFE H ARBOR S TATEMENT This presentation contains forward - looking statements . All statements in this presentation, other than statements of historical facts, which address activities, events or developments that we expect or anticipate will or may occur
Slide 3: Company Overview
Leaders in optical and infrared solutions C OMPANY O VERVIEW Corporate HQ - Orlando, FL China Facility – Jiading Shanghai LightPath Manages Light LightPath Technologies designs, develops and manufactures high volume, mid to low cost laser optics, custom optical modules and thermal imaging assemblies
Slide 4: Company Product Lines
Leaders in optical and infrared solutions Company Product Lines NASDAQ: LPTH Molded Aspheric Lenses Molded Infrared Aspheric Lenses Fiber Optic Collimators Gradium Lenses
Slide 5: Global Blue-Chip Customers
Leaders in optical and infrared solutions G LOBAL B LUE - C HIP C USTOMERS NASDAQ: LPTH
Slide 6: Market Business Drivers
Leaders in optical and infrared solutions Market Business Drivers • Visible Lens Business – Optical Network Growth – Internet Mobility • Bandwidth Demand – Mobile Device Growth » Number of devices to exceed world population growth by 2016 (1.4 devices /person) – Preponderance of Video – 50% of all i
Slide 7: Market Drivers - Telecom
Leaders in optical and infrared solutions LightPath Confidential – DO NOT DISTRIBUTE Market Drivers - Telecom • Telecom market growth being driven by global bandwidth expansion (mobile internet, streaming video, etc ). • LightPath’s major customers include: • Emcore – tunable transceiver optical sub
Slide 8: Market Drivers - Telecom Bookings by Quarter
Leaders in optical and infrared solutions LightPath Confidential – DO NOT DISTRIBUTE Market Drivers - Telecom $ - $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 Q1FY13 Q2FY13 Q3FY13 Q4FY13 Q1FY14 Q2FY14 Q3FY14 (F) Q4FY14 (F) Telecom Bookings by Quarter
Slide 9: Market Drivers – China Laser Tools
Leaders in optical and infrared solutions LightPath Confidential – DO NOT DISTRIBUTE Market Drivers – China Laser Tools • New construction in mainland china forecasted to continue to increase at a pace of 8.5% per year through 2017* • Growth of housing construction in China as well as worldwide incr
Slide 10: Market Drivers – China Laser Tools Lenses Sold
Leaders in optical and infrared solutions LightPath Confidential – DO NOT DISTRIBUTE Market Drivers – China Laser Tools - 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000 Q1FY13 Q2FY13 Q3FY13 Q4FY13 Q1FY14 Q2FY14 Q3FY14 (F) Q4FY14 (F) Quantity of Laser Tool Lenses Sold from Lig
Slide 11: Market Drivers – Digital Cinema
Leaders in optical and infrared solutions LightPath Confidential – DO NOT DISTRIBUTE • Laser Digital Cinema ready to launch in CY2014* • 40,000 theatre screens in US (120K worldwide) • $40K ASP for laser projector • $2.4B potential market assuming only 50% penetration • Major players* • Christie (40
Slide 12: Market Drivers – Digital Cinema Revenue
Leaders in optical and infrared solutions LightPath Confidential – DO NOT DISTRIBUTE Market Drivers – Digital Cinema 0 10000 20000 30000 40000 50000 60000 70000 Q3FY13 Q4FY13 Q1FY14 Q2FY14 Q3FY14 (F) Q4FY14 (F) Digital Cinema Revenue Sinolaser Barco Revenue from Red Digital Cinema Inc excluded due t
Slide 13: Market Business Drivers - Infrared Lens Business
Leaders in optical and infrared solutions Market Business Drivers • Infrared Lens Business – Shift to Commercial Growth – Four Key Markets – 23% Shipment Growth • Automotive, Surveillance, Low - end thermography & IR Imaging in Smart Phones – Low Cost is the key – Molding is an Enabling Technology f
Slide 14: IR Market Drivers
Leaders in optical and infrared solutions IR M ARKET D RIVERS • Significant cuts in the US military budget – S equestration and reduction of military operations in theater have had a negative impact on the global military market and the need for IR imaging applications – US budget portion of the glo
Slide 15: IR Market Drivers – Con't
Leaders in optical and infrared solutions IR M ARKET D RIVERS – C ON ’ T • Technological improvements of uncooled sensors, processes and wafer - level packaging are key to steady price decline in infrared imaging and unit growth has not kept pace with pricing decreases • The trend toward smaller unc
Slide 16: IR Market Drivers – Con't
Leaders in optical and infrared solutions IR M ARKET D RIVERS – C ON ’ T • Security camera sales are slowly increasing as consumers become used to the higher (than visible) IR camera pricing, and realize the benefits of thermal threat detection, as well as new competition in this market…..such as th
Slide 17: FPA Sensor Effect
Leaders in optical and infrared solutions FPA Sensor Effect ULIS Micro 80P TM • FPA pixel size decreasing – 25µ - still in use but declining in sales – 17µ – present standard – 12µ – coming out shortly, may be practical limit on size for LWIR wavelength, although 10µ is being considered • Small form
Slide 18: Target Markets for Penetration – Con't
Leaders in optical and infrared solutions Target Markets for Penetration – Con’t • Commercial – Homeland Security & Border Patrol – Police and Surveillance – EVS (Enhanced Vision System)
Slide 19: Target Markets for Penetration – Con't
Leaders in optical and infrared solutions Target Markets for Penetration – Con’t • Commercial – Site Security – Fire – “Dumb” sensors • HVAC • Vehicle or room occupancy detection • Electrical enclosure monitoring • Gas plumbing monitoring
Slide 20: Target Markets for Penetration – Con't
Leaders in optical and infrared solutions Target Markets for Penetration – Con’t • Commercial – Automotive o Driver’s Vision – Marine – Medical
Slide 21: Available Markets Per Segment
Available Markets Per Segment • Laser tools • Closed circuit imaging (security) • Biomedical instruments • Telecommunications subsystems Aspheric Lenses $200M SAM Share Target: 5% • Laser line generators • Industrial tools, optical cutting/welding • Bench top, and scientific lasers • Semiconductor m
Slide 22: Performance Metrics
Leaders in optical and infrared solutions Performance Metrics Confidential 22 ($million, except Avg Selling price) % Change Q1 2011 2012 2013 from 2011 2014 Revenue 10.001 11.285 11.784 18% 2.810 Gross margin % 39% 36% 44% 12% 47% Adj EBITDA 0.049 0.248 1.144 2234% 0.019 Operating income (0.857) (0.
Slide 23: Market Capitalization & Balance Sheet Highlights
Market Capitalization & Balance Sheet Highlights Share Price $1.21 ADTV (90) 202,073 Basic Shares O/S 13,794,114 Market Cap $16,690,878 Add: Debt 0 Less: Cash 2,879,201 Enterprise Value $13,811,677 Capitalization Structure Capitalization Structure a/o 9/30/2013 Cash & Equivalents $2.88MM Working Cap
Slide 24: Company Highlights
Leaders in optical and infrared solutions Company Highlights • Public company - NASDAQ Listing • Optics company with wholly owned manufacturing facility in China – Low cost manufacturing platform – Direct access to Asian markets – World - class custom design capability • Low cost, high volume manufa
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