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ORLANDO - LightPath Technologies, Inc. (NASDAQ:LPTH) announced Monday the appointment of Israel Piergiovanni as Vice President of Manufacturing to support production scale-up amid expected near-term growth. The company's stock, currently trading at $7.78, has delivered an impressive 394% return over the past year according to InvestingPro data, with analysts anticipating continued sales growth in the current year.
Piergiovanni brings over 20 years of leadership experience in manufacturing operations, engineering, and quality management. He most recently served as Senior Director of Manufacturing Operations at Luminar Technologies, where he led multi-site production of advanced optical assemblies across facilities in the U.S., Mexico, and Thailand.
"Israel's appointment comes at a pivotal time as we continue to scale production of camera systems, particularly with new capacity coming online in Texas, as well as expanding capacity at our vertically integrated manufacturing footprint to help convert our record $90M+ backlog into revenue," said Sam Rubin, President and CEO of LightPath. The company has shown 17.26% revenue growth in the last twelve months, with InvestingPro data indicating a substantial 59% revenue growth forecast for fiscal year 2026, though analysts do not anticipate profitability this year.
In his new role, Piergiovanni will oversee manufacturing operations across LightPath's global facilities. His previous experience includes manufacturing management positions at Plastic Omnium, Prettl Electric and Fisher Barton. He holds a Bachelor of Science in Computer Science from Limestone College and is a Lean Six Sigma Yellow Belt.
LightPath Technologies describes itself as a provider of next-generation optics and imaging systems for defense and commercial applications, with a vertically integrated model from raw glass production to complete optical and thermal systems.
The information in this article is based on a company press release statement.
In other recent news, LightPath Technologies reported its fourth-quarter fiscal 2025 earnings, showing a revenue of $12.2 million, which exceeded the forecast of $11.9 million and marked a 41.4% year-over-year increase. However, the company's earnings per share (EPS) missed expectations, posting a loss of $0.16 against the anticipated loss of $0.03. H.C. Wainwright subsequently raised its price target for LightPath Technologies from $7.00 to $8.00, maintaining a Buy rating. The company also secured a $4.8 million order for infrared camera systems from an existing customer, with delivery set for the 2026 fiscal year. This follows significant orders of $18.2 million and $22.1 million received in September. Additionally, LightPath Technologies announced the appointment of Mark Caylor, a seasoned defense industry executive, to its Board of Directors. These developments reflect ongoing strategic movements within the company.
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