Industrial lens maker LightPath Technologies falls on larger Q4 loss

LightPath Technologies

10/09/2021 13:22

** Shares of industrial lens maker  LPTH.O  down 5.6% at
$2.04 premarket 
    ** LPTH posts larger-than-expected Q4 loss of 11 cents/shr
due to higher expenses  urn:newsml:reuters.com:*:nACSQMgbca
    ** Q4 rev fell 8.5% to $8.33 mln mainly due to lower orders
from telecommunications market customers, but still beat
analysts' estimates of $8.22 mln, according to Refinitiv data
    ** LPTH believes the slowdown in orders to be temporary,
with headwinds subsiding by January 2022 as customers align
their inventory levels to the next phase of 5G rollout
    ** Co beat rev est. for the seventh straight qtr, missed EPS
expectations for the fourth consecutive qtr - Refinitiv data 
    ** All 3 brokerages covering the stock rate it "buy"; their
median PT is $3.50
    ** As of last close, stock had fallen 44.9% this year

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))