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Advanced Photonix Inc Lowers H2 2013 Revenue Guidance

Tuesday, 13 Nov 2012 04:15pm EST 

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. 

Company Quote

-0.0505 -9.18%
1 Oct 2014