Advanced Photonix Reports Revenue Drop
Advanced Photonix in Camarillo reported $1.9 million in revenues for the third quarter that ended Dec. 27, a decrease of 5% over the $2 million reported in the third quarter of the previous year.
Net income rose 42% to $143,000, compared with $101,000 a year earlier. Per-share earnings remained the same at 1 cent.
“API is reporting its sixth consecutive profitable quarter,†said Harry Melkonian, president and chief executive officer. “The outlook for fiscal 1999, which ends March 28, is good, with higher revenues and net income than last year. This is anticipated despite a projected soft fourth quarter, which should result in break-even net income.â€
Advanced Photonix designs and manufactures silicon photodetectors, optoelectronic hybrid assemblies and other products.
