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However, in the third quarter of its fiscal year 2021, LPTH received fewer orders from its large telecommunications customers. Also, the company’s increased selling, general and administrative expenses (SG&A) costs, including stock compensation expenses and approximately $280,000 in expenses incurred due to the termination of several employees, have caused a significant reduction in its operating income in its last reported quarter. The stock has tumbled 17.6% year-to-date.
Closing yesterday’s trading session at $2.69, LPTH’s stock is trading 50.6% below its 52-week high. While the company continues to witness decent demand for its industrial applications and other public safety applications, its growth prospects look uncertain.
