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Luna Announces Fourth Quarter and Year-End Financial Release Date of March 12, 2015

LUNA

ROANOKE, Va., March 5, 2015 (GLOBE NEWSWIRE) -- Luna Innovations Incorporated (Nasdaq:LUNA) announced today it will report its fourth quarter and full year financial results for the period ended December 31, 2014, 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, March 12, 2015, 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 877.299.4454 and the international dial-in number is 617.597.5447. The participant access code is 31057565. 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.

Today, Advanced Photonix Inc. and Luna Innovations Incorporated jointly announced an update as to the timing of their planned merger. As previously disclosed, the closing of the proposed merger is subject to the satisfaction or waiver of a number of customary closing conditions, including, among others, the effectiveness of a Form S-4 registration statement filed by Luna with the SEC and the approval of certain matters related to the merger by each company's stockholders. In February, Luna filed a Form S-4 registration statement with the Securities and Exchange Commission with respect to the proposed merger. However, that registration statement is not yet effective, and the companies have yet to finalize the dates of their respective stockholders meetings. Luna expects to file an amendment to the Form S-4 in March 2015 and, following the effectiveness of the Form S-4, Luna and Advanced Photonix will mail the joint proxy statement/prospectus included in the Form S-4 to their stockholders for consideration at their respective stockholder meetings. Although the companies have not yet formally determined the dates of their stockholder meetings, the companies currently expect to hold their meetings, and close the merger, in May 2015.

About Luna:

Luna Innovations Incorporated (www.lunainc.com) is a public company composed of scientists, engineers, and business professionals developing and manufacturing a new generation of technologies and products. It has been successful in taking innovative technologies from applied research to product development and ultimately to the commercial market, driving breakthroughs in fields such as aerospace, automotive, telecommunications, healthcare, energy, and defense.
 

CONTACT: Investor Contact:
         Dale Messick, CFO
         Luna Innovations Incorporated
         Phone: 1.540.769.8400
         Email: IR@lunainc.com