Advanced Photonix Inc. reports second- quarter results.CAMARILLO Camarillo (kă'mərē`yō), city (1990 pop. 52,303), Ventura co., S Calif.; inc. 1964. It is the center of a fertile farm area where citrus fruits and flowers are grown. , Calif.--(BUSINESS WIRE)--Nov. 11, 1994--Advanced Photonix Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :API (Application Programming Interface) A language and message format used by an application program to communicate with the operating system or some other control program such as a database management system (DBMS) or communications protocol. ) Friday announced its results for the second quarter and six months ended Oct. 2, 1994. For the second quarter, revenues totaled $1.8 million, compared with $1.7 million reported in the second quarter of the prior year. The company reported a net loss of $0.5 million, or 7 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , compared with a net loss of $0.4 million, or 6 cents per share, in last year's second quarter. Revenues for the six months ended Oct. 2, 1994 totaled $3.6 million, compared with $3.4 million in the prior year. Net loss for the six months ended Oct. 2, 1994 totaled $1 million, or 13 cents per share, compared with a net loss of $0.8 million, or 12 cents per share, in the prior year. In announcing the results, James W. Ward, president and chief executive officer of Advanced Photonix, said: "During the second quarter, higher product shipments with better margins partially offset higher research and development and G&A costs. These results are within our plan and expectations. "During the first half of fiscal 1995, research and development spending has increased as we continue to attack the baseline The horizontal line to which the bottoms of lowercase characters (without descenders) are aligned. See typeface. baseline - released version manufacturing issues which have delayed production of our proprietary Large Area Avalanche Photodiode Avalanche photodiodes (APDs) are photodetectors that can be regarded as the semiconductor analog to photomultipliers. By applying a high reverse bias voltage (typically 100-200 V in silicon), APDs show an internal current gain effect (around 100) due to impact ionization (avalanche . "We are now only a few steps away from establishing our baseline LAAPD manufacturing process and beginning demonstration of the reliability of this device, which is the primary building block for the entire line of avalanche photodiode products including large-area single-element visible-light detectors, large-area multi-element arrays for imaging applications and vacuum APDs for single-photon detection. "We continue to look for strategic partners and/or financial investors to meet future working capital and capital investment requirements outlined in our business strategy. We are in discussions which we hope will lead to agreements that will not only bring funding for growth but also bring complementary technology and marketing expertise which will help accelerate our progress. "Results for the fiscal year ending April 2, 1995 should be better than fiscal 1994 as we have streamlined our operations and are carefully managing our resources." Advanced Photonix produces proprietary solid-state silicon large area avalanche avalanche, rapidly descending large mass of snow, ice, soil, rock, or mixtures of these materials, sliding or falling in response to the force of gravity. Avalanches, which are natural forms of erosion and often seasonal, are usually classified by their content such photo diodes. The company also develops, produces and markets other ultraviolet An invisible band of radiation at the upper end of the visible light spectrum. With wavelengths from 10 to 400 nm, ultraviolet starts at the end of visible light and ends at the beginning of X-rays. The primary source of ultraviolet light is the sun. , visible light and near-infrared photodetector A device that senses light. It uses the principle of photoconductivity, which is exhibited in certain materials that change their electrical conductivity when exposed to light. See photoelectric, photocell and photodiode. devices and opto-electronics from its facility in Camarillo. -0-
ADVANCED PHOTONIX INC.
FINANCIAL RESULTS
Three Months Ended Six Months Ended
Oct. 2, Sept. 30, Oct. 2, Sept. 30,
1994 1993 1994 1993
Revenues $1,844 $1,659 $3,557 $3,359
Net loss $ (546) $ (448) $(1,049) $ (849)
Net loss per share $(0.07) $(0.06) $(0.13) $(0.12)
Weighted average number of
shares outstanding 8,382,713 6,989,613 8,379,219 6,914,431
CONTACT: Advanced Photonix Inc., Camarillo Patrick J. Holmes, 805/987-0146 |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion