LightPath Technologies, Inc. (NASDAQ:LPTH) Q3 2023 Earnings Conference Call May 11, 2023 5:00 PM ET

Company Participants

Albert Miranda - CFO

Sam Rubin - President and CEO

Conference Call Participants

Brian Kinstlinger - Alliance Global Partners

Gene Inger - ingerletter.com

Operator

Good afternoon, everyone. And welcome to the LightPath Technologies Fiscal Third Quarter 2023 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

At this time, I'd like to turn the conference over to Albert Miranda, Chief Financial Officer. Please go ahead, Alb.

Albert Miranda

Thank you. Good afternoon, everyone. Before we get started, I'd like to remind you that during the course of this conference call, the company will be making a number of forward-looking statements that are based on current expectations, involve various risks and uncertainties, as discussed in our periodic SEC filings. Although the company believes that the assumptions underlying these statements are reasonable, any of them can be prove to be inaccurate and there could be no assurances that the results would be realized.

In addition, references may be made to certain non-generally accepted accounting principles or non-GAAP. We refer to these as non-GAAP financial measures. Please refer to our SEC reports and certain press release which include reconciliations of non-GAAP financial measures and associated disclaimers.

Sam will begin today's call with an overview of the business and recent developments for the company. I will then review financial results for the fiscal year. Following our prepared remarks, there will be a formal question-and-answer session.

I would now like to turn the conference over to Sam Rubin, LightPath's President and Chief Executive Officer.

Sam Rubin

Thank you, Al. Good afternoon to everyone and welcome to LightPath Technologies fiscal 2023 third quarter financial results conference call. Our financial results press release was issued after the market closed today and posted to our corporate website.

As expected -- we as we expected would happen to some degree shipments in the third fiscal quarter of 2023 were impacted by the ongoing construction and expansion of our Florida facility. And while we planned and expected for some disruptions from the move and expansion, this resulted in between a million to 1.5 million of products that was not shipped in the quarter. Those orders however, are not lost, and their shipment moved into Q4 the current quarter we're in. Completing such construction will position the company for larger, more sophisticated orders, a growth that is backed by a strong backlog and continued bookings and customer commitment.