LightPath reports Q1 EPS (9c), consensus (5c)

Reports Q1 revenue $9.2M, consensus $8.67M. CEO Sam Rubin said: “The closing of our acquisition of G5 Infrared, and the subsequent three significant orders for this new subsidiary, helped to accelerate execution of our strategic vision to become a leading vertically-integrated infrared imaging solutions provider in the $9B infrared imaging market….A $4.8M initial qualification order with a new defense industry customer and a $4.9M follow-on order with an existing defense industry customer was followed by an initial $2.2M engineering development model order by L3Harris Technologies…We expect to add significant value beyond G5’s initial accretive revenue stream and believe the acquisition will continue to drive future growth…Looking ahead, we expect continued momentum for our product portfolio and market potential with our Germanium-free BlackDiamond infrared imaging solutions…We are moving forward with key defense programs, including our bid to produce a design of a major missile program for the U.S. Army with Lockheed Martin…With the integration of G5, we believe we are well positioned to be the optical solutions provider of choice for high value customers with an accelerating pipeline of government and military projects with key defense customers”.