Stock Alert: LightPath Technologies (LPTH)

(RTTNews) - LightPath Technologies Inc. (LPTH) is trading at $1.25 in pre-market trading Tuesday, an increase of 1.63% from the previous closing price of $1.23. The shares have gained 68 percent so far this year.

The Company is a provider of optics, photonics and infrared solutions for the industrial, commercial, defense, telecommunications, and medical industries.

Last week, the Company announced financial results for its fiscal 2020 second quarter ended December 31, 2019, wherein revenue and net income had significantly improved.

Net income for the second quarter of fiscal 2020 was approximately $769,000 or $0.03 per share on revenue of $9.6 million. This compared with a net income of about $16,000 or $0.00 per share and revenue of $8.5 million in the second quarter of fiscal 2019.

Gross margin in the second quarter of fiscal 2020 was approximately $3.9 million, an increase of 11%, as compared to approximately $3.5 million in the same quarter of the prior fiscal year, thanks to higher sales and reduced operating expenses.

At December 31, 2019, the Company's 12-month backlog reached a record of $19.1 million, up from $17.1 million at the beginning of the fiscal year.

The Company ended the year 2019 with cash and cash equivalents of roughly $4.3 million.