14 February 2011

Advanced Photonix's December-quarter revenue up 68% year-on-year

For its fiscal third-quarter 2011 (to end-December 2010), Advanced Photonix Inc of Ann Arbor, MI, USA (which designs and makes silicon, InP- and GaAs-based APD, PIN, and FILTRODE photodetectors, high-speed optical receivers, and terahertz instrumentation) has reported revenue of $7.7m, up 68% on $4.6m a year ago and up 10% on $7m last quarter (with revenue down in only one of the firm’s five markets).

Gross margin of 40% is down on 42% last quarter but up on 34% a year ago. Operating expenses were $3.3m, up slightly on $3.1m both last quarter and a year ago. Compared to net loss of $922,000 a year ago, non-GAAP net profit was $259,000, up on $209,000 last quarter.

“Building upon the momentum of the revenue growth driven by our telecommunications market, we are continuing to experience accelerating growth for our fiscal year,” says chairman & CEO Richard (Rick) Kurtz. “Year-to-date results exceeded the raised guidance we gave last quarter of a minimum of 25% year-over-year growth,” he adds. Year-to-date revenue of $21m is up 32% on $16m for the first nine months of fiscal 2010.

“Based on the performance of the first three quarters, and the outlook for the fourth quarter [with increasing demand globally for the firm’s high-speed optical receivers and increasing revenue in the terahertz product platform], we are again raising our guidance [from 25%] to 35% revenue growth for the year,” Kurtz says.

See related items:

Advanced Photonix reports quarterly revenue up 29% year-on-year

Advanced Photonix enters underlying profit after quarterly growth accelerates to 22%

Advanced Photonix returns to growth, led by high-speed optical receivers

Tags: Advanced Photonix

Visit: www.advancedphotonix.com

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