APA Optics Links Quarterly Lossto Manufacturing Buildup

MINNEAPOLIS, Feb. 16 -- APA Optics Inc. has reported a loss of $988,740, or 11 cents a share, for its third fiscal quarter ended December 31, 1999. The loss had been projected as part of the company's buildup for manufacturing; it compares with a loss of $616,980, or seven cents a share, in the third quarter of the prior fiscal year. APA Optics posted revenues of $136,516 for the quarter, compared with $134,128 a year earlier.
Anil K. Jain, president and CEO of APA Optics, said the fiber optic communications industry is paying increasing attention to the company's dense wavelength division multiplexing (WDM) technologies. We have recently shipped research units of the product to companies that are leaders in fiber optics, said Jain, noting that The company is now equipped to offer dense WDM units for use either with multi-mode or single-mode fiber. APA Optics also said that it is aggressively marketing its multiple nitride-based detector products, including both gallium nitride (GaN) and aluminum gallium nitride devices.