Advanced Photonix Posts Smaller 1st-Quarter Loss

Advanced Photonix Inc., a Camarillo maker of light-detecting devices and other electronics, said its fiscal first-quarter net loss narrowed by almost half to $401,000 from $798,000 a year earlier. Revenue was essentially flat at $1.72 million in the three months that ended June 30 compared with the same period a year ago.

Advanced Photonix attributed its narrower loss in the latest quarter to dropping some older products and making its manufacturing process more efficient. The company expects its financial results to continue to improve the rest of this year.