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News Article | May 11, 2017
Site: www.businesswire.com

ROANOKE, Va.--(BUSINESS WIRE)--Luna Innovations Incorporated (NASDAQ: LUNA) today announced its financial results for the three months ended March 31, 2017. For the three months ended March 31, 2017, Luna reported revenues of $13.1 million and a net loss of $(1.4) million compared to revenues of $14.0 million and a net loss of $(1.5) million for the three months ended March 31, 2016. Adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA") was $0.1 million for the three months ended March 31, 2017 and 2016. A reconciliation of net loss to Adjusted EBITDA can be found in the schedules included in this release. “As we described last quarter, with the transition to a new vendor managed inventory arrangement with our largest customer in Asia as of January 1, 2017, we shipped fewer of our 100G integrated coherent receivers during the first quarter of 2017 than we did in the first quarter of 2016. As a result, our overall products and licensing revenue declined year over year," said My Chung, president and chief executive officer of Luna. "We anticipate the market for 100G products to return to significant growth in the second half of this year, driven by the build-out of metro networks in China and the adoption of our second generation 100G integrated coherent receivers. We remain focused on the execution of our key strategic growth initiatives, and continue to be excited about the growth opportunities they provide for the full year of 2017 and beyond." Total revenues for the three months ended March 31, 2017 were $13.1 million compared to $14.0 million for the three months ended March 31, 2016. Technology development revenues increased 15% to $4.3 million for the three months ended March 31, 2017, compared to $3.7 million for the three months ended March 31, 2016. Products and licensing revenues were $8.8 million for the three months ended March 31, 2017, compared to $10.3 million for the three months ended March 31, 2016. The decline in products and licensing revenues year over year resulted primarily from lower sales of 100G receivers in Asia compared to the first quarter of the previous year as Luna transitioned to a new vendor managed inventory arrangement with its largest customer in that region. Gross profit was $4.7 million, or 36% of revenues, for the three months ended March 31, 2017, compared to gross profit of $4.8 million, or 35% of revenues, for the three months ended March 31, 2016. Selling, general and administrative expenses were $4.5 million for the three months ended March 31, 2017, compared to $4.6 million for the three months ended March 31, 2016. Research, development and engineering expenses decreased to $1.4 million for the three months ended March 31, 2017 compared to $1.6 million for the three months ended March 31, 2016. Operating loss improved to $(1.3) million for the three months ended March 31, 2017, compared to an operating loss of $(1.4) million for the three months ended March 31, 2016. Net loss attributable to common stockholders improved to $(1.4) million for the three months ended March 31, 2017, compared to a net loss attributable to common stockholders of $(1.5) million for the three months ended March 31, 2016. Adjusted EBITDA was unchanged at $(0.1) million for the three months ended March 31, 2017 and 2016. In evaluating the operating performance of its business, Luna’s management considers Adjusted EBITDA, which excludes certain charges and credits that are required by generally accepted accounting principles (“GAAP”). Adjusted EBITDA provides useful information to both management and investors by excluding the effect of certain non-cash expenses and items that Luna believes may not be indicative of its operating performance, because either they are unusual and Luna does not expect them to recur in the ordinary course of its business or they are unrelated to the ongoing operation of the business in the ordinary course. Adjusted EBITDA should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. Adjusted EBITDA has been reconciled to the nearest GAAP measure in the table following the financial statements attached to this press release. As previously announced, Luna will conduct an investor conference call at 5:00 p.m. (EDT) today to discuss its financial results for the three months ended March 31, 2017, and recent business developments. The call can be accessed by dialing 844.578.9643 domestically or 270.823.1522 internationally prior to the start of the call. The participant access code is 18890708. Investors are advised to dial in at least five minutes prior to the call to register. The conference call will also be webcast live over the Internet. The webcast can be accessed by logging on to the “Investor Relations” section of the Luna website, www.lunainc.com, prior to the event. The webcast will be archived under the “Webcasts and Presentations” section of the Luna website for at least 30 days following the conference call. Luna Innovations Incorporated (www.lunainc.com) is a leader in optical technology, providing unique capabilities in high speed optoelectronics and high performance fiber optic test products for the telecommunications industry and distributed fiber optic sensing for the aerospace and automotive industries. Luna is organized into two business segments, which work closely together to turn ideas into products: a Technology Development segment and a Products and Licensing segment. Luna's business model is designed to accelerate the process of bringing new and innovative technologies to market. The statements in this release that are not historical facts constitute “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include Luna's expectations regarding Luna’s future financial performance, the significant growth of the market for Luna's 100G products in the second half of 2017, the adoption of Luna's second generation 100G integrated coherent receivers, and additional potential growth opportunities. Management cautions the reader that these forward-looking statements are only predictions and are subject to a number of both known and unknown risks and uncertainties, and actual results, performance, and/or achievements of Luna may differ materially from the future results, performance, and/or achievements expressed or implied by these forward-looking statements as a result of a number of factors. These factors include, without limitation, failure of demand for Luna's products and services to meet expectations, technological challenges and those risks and uncertainties set forth in Luna’s periodic reports and other filings with the Securities and Exchange Commission ("SEC"). Such filings are available on the SEC’s website at www.sec.gov and on Luna’s website at www.lunainc.com. The statements made in this release are based on information available to Luna as of the date of this release and Luna undertakes no obligation to update any of the forward-looking statements after the date of this release.


News Article | May 4, 2017
Site: globenewswire.com

Roanoke, May 04, 2017 (GLOBE NEWSWIRE) -- ROANOKE, Va., May 4, 2017 -- Luna Innovations Incorporated (NASDAQ: LUNA) announced today it will report its first quarter financial results for the period ended March  31, 2017, in a conference call with investors. My Chung, president and chief executive officer, and Dale Messick, chief financial officer, will host the call on Thursday, May 11, 2017, at 5:00 p.m. (EDT). The investor conference call will be available via live webcast on the Luna website at www.lunainc.com under the tab “Investor Relations.” To participate by telephone, the domestic dial-in number is 844.578.9643 and the international dial-in number is 270.823.1522. The participant access code is 18890708. Investors are advised to dial in at least five minutes prior to the call to register. The webcast will be archived on the company’s website under “Webcasts and Presentations” for 30 days following the conference call. Luna Innovations Incorporated (www.lunainc.com) is a leader in optical technology, providing unique capabilities in high speed optoelectronics and high performance fiber optic test products for the telecommunications industry and distributed fiber optic sensing for the aerospace and automotive industries. Luna is organized into two business segments which work closely together to turn ideas into products: a Technology Development segment and a Products and Licensing segment. Luna’s business model is designed to accelerate the process of bringing new and innovative technologies to market.


News Article | May 4, 2017
Site: globenewswire.com

Roanoke, May 04, 2017 (GLOBE NEWSWIRE) -- ROANOKE, Va., May 4, 2017 -- Luna Innovations Incorporated (NASDAQ: LUNA) announced today it will report its first quarter financial results for the period ended March  31, 2017, in a conference call with investors. My Chung, president and chief executive officer, and Dale Messick, chief financial officer, will host the call on Thursday, May 11, 2017, at 5:00 p.m. (EDT). The investor conference call will be available via live webcast on the Luna website at www.lunainc.com under the tab “Investor Relations.” To participate by telephone, the domestic dial-in number is 844.578.9643 and the international dial-in number is 270.823.1522. The participant access code is 18890708. Investors are advised to dial in at least five minutes prior to the call to register. The webcast will be archived on the company’s website under “Webcasts and Presentations” for 30 days following the conference call. Luna Innovations Incorporated (www.lunainc.com) is a leader in optical technology, providing unique capabilities in high speed optoelectronics and high performance fiber optic test products for the telecommunications industry and distributed fiber optic sensing for the aerospace and automotive industries. Luna is organized into two business segments which work closely together to turn ideas into products: a Technology Development segment and a Products and Licensing segment. Luna’s business model is designed to accelerate the process of bringing new and innovative technologies to market.


News Article | November 28, 2016
Site: www.accesswire.com

LOS ANGELES, CA / ACCESSWIRE / November 28, 2016 / Luna Innovations Incorporated (NASDAQ: LUNA), announced today that it will be presenting at the 9th Annual LD Micro Main Event on Wednesday, December 7th at 11:30 AM PST / 2:30 PM EST at the Luxe Sunset Boulevard Hotel in Los Angeles, CA. My Chung, president and Chief Executive Officer, and Dale Messick, Chief Financial Officer, will be presenting, as well as meeting with investors. The LD Micro Main Event is the largest independent conference for small/microcap companies and will feature 240 presenting names. Luna Innovations Incorporated (www.lunainc.com) is a leader in optical technology, providing unique capabilities in high speed optoelectronics and high performance fiber optic test products for the telecommunications industry and distributed fiber optic sensing for the aerospace and automotive industries. Luna is organized into two business segments which work closely together to turn ideas into products: a Technology Development segment and a Products and Licensing segment. Luna's business model is designed to accelerate the process of bringing new and innovative technologies to market. LD Micro was founded in 2006 with the sole purpose of being an independent resource in the microcap space. What started out as a newsletter highlighting unique companies has transformed into an event platform hosting several influential conferences annually (Invitational, Summit, and Main Event). In 2015, LDM launched the first pure microcap index (the LDMi) to exclusively provide intraday information on the entire sector. LD will continue to provide valuable tools for the benefit of everyone in the small and microcap universe. For those interested in attending, please contact David Scher at [email protected] or visit www.ldmicro.com/events for more information.


News Article | November 2, 2016
Site: globenewswire.com

ROANOKE, Va., Nov. 02, 2016 (GLOBE NEWSWIRE) -- Luna Innovations Incorporated (NASDAQ:LUNA) announced today it will report its third quarter financial results for the period ended September 30, 2016, in a conference call with investors. My Chung, president and chief executive officer, and Dale Messick, chief financial officer, will host the call on Wednesday, November 9, 2016, at 5:00 p.m. (EST). The investor conference call will be available via live webcast on the Luna website at www.lunainc.com under the tab “Investor Relations.” To participate by telephone, the domestic dial-in number is 844.578.9643 and the international dial-in number is 270.823.1522. The participant access code is 10059845. Investors are advised to dial in at least five minutes prior to the call to register. The webcast will be archived on the company’s website under “Webcasts and Presentations” for 30 days following the conference call. About Luna: Luna Innovations Incorporated (www.lunainc.com) is a leader in optical technology, providing unique capabilities in high speed optoelectronics and high performance fiber optic test products for the telecommunications industry and distributed fiber optic sensing for the aerospace and automotive industries. Luna is organized into two business segments which work closely together to turn ideas into products: a Technology Development segment and a Products and Licensing segment. Luna’s business model is designed to accelerate the process of bringing new and innovative technologies to market.


News Article | November 2, 2016
Site: globenewswire.com

ROANOKE, Va., Nov. 02, 2016 (GLOBE NEWSWIRE) -- Luna Innovations Incorporated (NASDAQ:LUNA) announced today it will report its third quarter financial results for the period ended September 30, 2016, in a conference call with investors. My Chung, president and chief executive officer, and Dale Messick, chief financial officer, will host the call on Wednesday, November 9, 2016, at 5:00 p.m. (EST). The investor conference call will be available via live webcast on the Luna website at www.lunainc.com under the tab “Investor Relations.” To participate by telephone, the domestic dial-in number is 844.578.9643 and the international dial-in number is 270.823.1522. The participant access code is 10059845. Investors are advised to dial in at least five minutes prior to the call to register. The webcast will be archived on the company’s website under “Webcasts and Presentations” for 30 days following the conference call. About Luna: Luna Innovations Incorporated (www.lunainc.com) is a leader in optical technology, providing unique capabilities in high speed optoelectronics and high performance fiber optic test products for the telecommunications industry and distributed fiber optic sensing for the aerospace and automotive industries. Luna is organized into two business segments which work closely together to turn ideas into products: a Technology Development segment and a Products and Licensing segment. Luna’s business model is designed to accelerate the process of bringing new and innovative technologies to market.


A capacitive transducer for detecting the level of liquids and other materials has one or more antenna probes connected to an integrated chip normally associated with touch-screen displays. Each antenna probe operates independently and senses the level condition of wet or dry flowable materials such as water, oil, fuel, grain, and so on. The antenna probes may be formed as insulated conductive wires or conductive traces between layers of a stiff or flexible substrate, such as a PCB, with the substrate material serving as the insulating layers. Each antenna probe has a different length representing different depths of the material being measured to provide dynamic calibration of the level condition independent of the material type and ambient conditions.


Trademark
Luna Inc | Date: 2017-01-20

Vitamin and mineral supplements for mixing with water, juice, smoothie; Vitamin supplements; Vitamin tablets; Vitamins; Gummy vitamins; Powdered nutritional supplement drink mix containing water, juice, smoothie; Prenatal vitamins.


Trademark
Luna Inc | Date: 2017-01-19

Vitamin supplement in tablet form for use in making an effervescent beverage when added to water; Vitamin supplements; Vitamins; Dietary supplemental drinks in the nature of vitamin and mineral beverages; Gummy vitamins; Prenatal vitamins.


News Article | January 27, 2015
Site: techcrunch.com

Luna co-founder Matteo Franceschetti presents a pretty appealing vision of what it can be like to go to bed: As you lie down, the lights, temperature (of both the bed and the room), and the music all adjust to a setting of your choice. Then as you fall asleep, they adjust again, perhaps turning off completely. Luna makes this possible through a smart mattress cover that’s now available for pre-order through a crowdfunding campaign on Indiegogo. As you can see in the video above, Luna is a cover that fits over your mattress. It then automatically tracks your sleep, sending the data to both the Luna app and to other Internet-connected devices at home. In the Luna showroom, Franceschetti actually feigned sleep and we saw the room go to sleep around him. The company is touting its integration with the Nest smart thermometer, but Franceschetti said it has signed partnerships with other smart home devices as well. (Nonetheless, I suspect that some of the selling points, like brewing coffee as you wake up, may be a little further down the road.) “Our idea is to really automatize most of your sleep habits,” he said, later adding, “The more Internet devices will be distributed and sold across the United States, the more this product will be useful.” Asked about the most noticeable change in sleep habits as a result of Luna, Franceschetti replied: For men, the most exciting part is our interaction with smart home devices — so the lights, your Netflix, Spotify. For women, instead, it’s temperature we have seen most of the couple they fight about temperature while men love to sleep cold while women love to sleep hot and through the different temperature and zone control, it’s something we can solve. In a follow-up email, the Luna team also filled me in on how it protects your sleep data. The company said that the data it collects is aggregated locally, on the device, then encrypted and sent to Luna for storage and analysis. The planned retail price for Luna’s smart cover is $249, but it’s currently available for $179 through pre-order.

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