17 November 2011

Advanced Photonix returns to profit after quarterly revenue growth of 3.7%

For its fiscal second-quarter 2012 (to end-September 2011), Advanced Photonix Inc of Ann Arbor, MI, USA (which designs and makes silicon, InP- and GaAs-based APD, PIN, and FILTRODE photodetectors, HSOR high-speed optical receivers, and terahertz instrumentation) has reported revenue of $8.4m, up 3.7% on $8.1m last quarter and 19% on $7m a year ago.

“We had strong growth in our HSOR platform in the telecommunication market and in the Terahertz homeland security market relative to last year's second quarter,” notes chairman & CEO Richard Kurtz.

Operating expenses have risen slightly again, from $3.8m last quarter to $3.9m, up from $3.1m a year ago. After falling from 44% to 42% last quarter, gross margin has rebounded to 43% due to a reduction in scrap and rework expenses on HSOR products. On a non-GAAP basis, net profit was $155,000, down from $209,000 a year ago but an improvement on the net loss of $96,000 last quarter.

“The effect of the flooding in Thailand is impacting the telecommunication supply chain, resulting in some customers' delaying orders and deliveries,” says Kurtz. “We are continuing to invest in our high-growth opportunities and are optimistic about our long-term future, but the impact of the flooding, and continued malaise in the macroeconomic environment is expected to reduce our growth for this fiscal year," he cautions. 

See related items:

Advanced Photonix's quarterly revenue grows 3.8%, but 15–20% annual growth still expected

Advanced Photonix’s quarterly revenue up 52% year-on-year, exceeding targeted 15–25%

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

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

Tags: Advanced Photonix

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