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LightPath Technologies, Inc. (Nasdaq: LPTH) $2.57. Up $0.39. Today announced it is seeing increasing demand in the strategic market of molded aspheres for consumer and industrial laser tools. Current open orders for these products are valued over $1.8M with more than 25% growth anticipated over the next several quarters. After a year of volume production shipments to multiple OEM manufacturers, the acceptance of molded aspheres as a replacement for spherical doublets and triplets has surpassed LightPath's initial expectations. Molded aspheric lenses are being adopted because they provide a cost savings and are easier to assemble over traditional high volume spherical doublet and triplet lenses without sacrificing performance.
What They Do: LightPath manufactures optical products including precision molded aspheric optics, GRADIUM glass products, proprietary collimator assemblies, laser components utilizing proprietary automation technology, higher-level assemblies and packing solutions.
China Precision Steel, Inc. (Nasdaq: CPSL) Trading at $2.28, Up $0.34. Today announced its fiscal 2010 second quarter results for the period ended December 31, 2009.
Revenue for the second quarter of fiscal 2010 was $27.0 million, up 53.7% from revenue in the second quarter of fiscal 2009 of $17.6 million. The increase in revenue was mainly attributed to the increase in sales volume which offset a decline in average selling price. Total sales volume in the second quarter was 35,588 tons, up 139.5% from total sales volume of 14,862 in the second quarter of 2009. Sales volume increased 59.6% from 22,293 tons in the first quarter of fiscal 2010. Average selling price per ton was $759, down 35.8% from $1,182 in the second quarter of fiscal 2009. The decline in average selling price parallels the overall decline in global steel prices. High carbon and low carbon sales accounted for 32.0% and 54.9% of total sales, respectively, compared to 6.1% and 87.3%, respectively, in the second quarter of fiscal 2009. Exports represented 13.0% of total sales for the quarter.
Gross profit in the second quarter was $3.6 million, up 5.3% from gross profit in the same period a year ago of $3.5 million. Gross margin was 13.5% compared to 19.6% in the second quarter of fiscal 2009. The decline in gross margin was mainly due to decrease in average selling prices, which was partially offset by decrease in average cost per unit sold period-on-period.
What They Do: China Precision Steel, Inc. is a niche precision steel processing company principally engaged in the production and sale of high precision cold-rolled steel products and provides value added services such as heat treatment and cutting medium and high carbon hot-rolled steel strips.
Mediware Information Systems (NASDAQ: MEDW) Trading at $8.51, Up $1.11. Today announced Oregon Health Sciences University Hospital joins a growing list of prestigious healthcare facilities implementing the company's BloodSafe system. BllodSafe is a combination of hardware and software that includes 'smart' refrigerators, two-dimensional barcodes and technologies to help get blood to patients faster and more efficiently. BloodSafe also features an FDA 510(k) cleared interface with Mediware's HCLL Transfusion blood bank software to enable clinical intelligence at the point of distribution. BloodSafe can also operate as a standalone system.
What They Do: BloodSafe creates an intelligent, remote-release solution for hospitals so blood banks can securely store blood in areas of high need, electronically match blood to patients and dispense blood units to care providers as needed. Use of BloodSafe has been proven to improve efficiency of hospital staff, decrease time required to access blood and reduce waste.
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