$LPTH New 30 minute interview with Sam Rubin has just appeared, courtesy of @RADHardTech (thanks) Lots of bullish soundbites here particularly on the demand side and how Lightpath is dramatically increasing capacity: "Expanding in all of our facilities" "Already supplying in a quarter (from the integration facility in New Hampshire) what they used to do in a year...even 4x growth isn't enough (to meet demand). "G5 was doing $15M when we acquired them and now we're setting them up to do $80M - $100M a year." There's an obvious risk here that at some point capacity growth stalls for some reason/s and they have a disappointing quarter or two. CEO also reiterated that "leadtimes for everything are expanding". If it does happen it wouldn't derail the thesis but the SP would doubtless take a hit. With the mkt cap now not much over $500 and a growing order backlog that was reported on the 10 September earnings call to be $111M, this looks very oversold to me. Gross margin last quarter was 39%. Adjusted EBITDA margin was $2.1M/10%. Sam Rubin thinks his company is very oversold: "I haven't sold any share ever yet, have only been buying, and would definitely be buying at this price if I could" (can't right now because of blackout period). They recently walked away from a couple of possible acquisitions cause the price wasn't right for them but they're still looking, and on the subject of being a possible target themselves he acknowledged it is always a possibility for a public company but: "on a personal level I think we're nowhere near exhausting the potential of what we're doing and definitely at the share price we are now it would, you know, be a crime to sell the company at such a price" I have to agree with Sam Rubin here but the fact is that just as all sorts of poor companies can catch a bid in a bull market, great little companies like Lightpath can still be dragged down in a bear market. Longer term though I still love this company's prospects and have to confess I bought a little more today. DYODD