Key Developments: Advanced Photonix Inc (API)
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21 May 2013
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Latest Key Developments (Source: Significant Developments)
Advanced Photonix Inc Secures $1,562,072 Contract
Advanced Photonix Inc announced that it has booked a $1,562,072 order to ship within the next 20 months. The order is for a custom photodiode used for the Navy's Guided Missile Systems. Full Article
Advanced Photonix Inc Announces the Acquisition of Certain Assets of Silonex Inc
Advanced Photonix Inc announced that it has acquired certain assets of Silonex, Inc. Silonex, Inc. is/was a wholly owned subsidiary of ARCAS Automotive Group (Luxco 1) S.a.r.l. , in exchange for a cash payment of $900,000. Full Article
Advanced Photonix Inc Lowers H2 2013 Revenue Guidance
Advanced Photonix Inc announced that due to the more challenging international macroeconomic environment, reduced U.S. military activities, and the looming U.S. fiscal cliff and their corresponding impact on the Company's customer's expansion plans in the industrial and defense markets, the Company is projecting a more cautious outlook for the fiscal year. Due to these conditions the Company is changing revenue growth for the second half of 2013 to a range of 15-25% higher than the first half of 2013. The Company reported revenues of $6.22 million in the first quarter of 2013 and revenues of $5.59 million in the second quarter of 2013. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $7.76 million for the third quarter of 2013 and revenue of $8.71 million for the fourth quarter of 2013. Full Article
Advanced Photonix Inc Appoints Donald C. Pastor As Non-Executive Chairman
Advanced Photonix Inc announced that the Company separated the roles of Chairman of the Board and Chief Executive Officer, consistent with current governance practices, and appointed Donald C. Pastor as Non-Executive Chairman of the Company. Full Article
Advanced Photonix Inc Comments On H2 2013 Revenue Guidance-Conference Call
Advanced Photonix Inc announced that second half of 2013 revenues are expected to be 35% higher than the first half of 2013 revenues, paced by new sources in the supply chain and barring any unfavorable future macroeconomic events. Full Article
Advanced Photonix, Inc. Announces Industrial Sale To Japanese Market
Advanced Photonix, Inc. announces that it has received $760,000 in orders for multiple T-Gauge systems. These systems will be delivered to API’s Japanese distributor, Spectra Design Ltd., in API’s third quarter and will be deployed on a manufacturing line providing 100% inspection of a packaged product for quality control. This is the first industrial deployment of terahertz (THz) in Japan. In addition to the deployed systems, Spectra Design has purchased a system to utilize in their lab for further sales support and application development. Full Article
Advanced Photonix, Inc. Receives $1.5 Million In Terahertz Contract Funding For F-35 Aircraft Quality Control
Advanced Photonix, Inc. announced that it has been awarded a follow on 21 month contract from the Air Force for $1.5 Million to provide terahertz process control instrumentation to support production of the F-35 Joint Strike Fighter (JSF). The contract is a commercialization pilot program (CPP) award to ensure the quality of specialty stealth coatings applied by Northrop Grumman to a sub-system on the F-35. The purpose of the CPP is to accelerate the transition of Small Business Innovation Research funded technologies to Phase III production and deployment purchases by the DoD. This contract funds further application and system development culminating in delivering two production units for deployment on the manufacturing floor by the end of 2013. Full Article
Advanced Photonix, Inc. Signs Agreement With Value Added Reseller
Advanced Photonix, Inc. announced that it has signed a value-added reseller (VAR) agreement for its T-Gauge industrial terahertz gauging system with Thermo Fisher Scientific for its line of Thermo Scientific web and metal gauges. Full Article
Advanced Photonix, Inc. Announces Hiring Of Jeffrey Anderson As Chief Financial Officer
Advanced Photonix, Inc. announced that it has hired Jeffrey Anderson, as the Chief Financial Officer, effective August 29, 2011. In connection with his appointment as the Chief Financial Officer of API, API entered into an employment agreement with Mr. Anderson on August 29, 2011. Full Article
Advanced Photonix, Inc. Reaffirms FY 2012 Revenue Guidance-Conference Call
Advanced Photonix, Inc. reaffirmed fiscal 2012 revenue guidance to grow in a range between 15% to 20% on an annual basis. The Company reported revenue of $28.84 million in fiscal 2011. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $34.11 million fiscal 2012. Full Article
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