Advanced Photonix Reports Revenue Increase

CAMARILLO, Calif., Aug. 10 -- Advanced Photonix Inc. -- designer and manufacturer of standard and custom silicon photodiodes for commercial, military and space applications -- has reported a first quarter increase in sales and revenues, partly due to growing acceptance of the company's new technology in the marketplace, said an Advanced Photonix spokesperson.
The first quarter ended June 25 saw revenues of $1.7 million, compared with $1.5 million in revenues for the same 1999 period. Net income for the first quarter was $194,000, or $.02 per share, compared with a net loss of $155,000, or $.01 per share, in last year's first quarter.
This year's first quarter sales proved to be much better than the first quarter of last year and I am particularly pleased with the increase in revenues from our patented LAAPD products, which accounted for $180,000 or 11 percent of net product sales this quarter, as opposed to only 9 percent in the same quarter last year, said Brock Koren, president and CEO of Advanced Photonix.