Advanced Photonix Tells of 18% Drop in Sales

Advanced Photonix in Camarillo reported net sales for the second quarter that ended Sept. 26 of $1.6 million, a decrease of 18% from the $2 million reported in the second quarter last year.

The company reported a net loss of $443,000, or 4 cents per share, compared with net income of $135,000, or 1 cent per share, in last year’s second quarter.

The company said the latest results are due to lower sales in its custom core business segment, particularly to the military aerospace industry. In addition, results were affected by a $180,000 reserve for severance costs associated with a management change.

In announcing the results, Brock Koren, president and CEO, said that although he is disappointed with the company’s sales performance, he is optimistic about the future.

“We are continuing to revamp our sales and marketing efforts, with a significant focus on gaining market share of what we consider to be a substantial existing opportunity currently served by a maturing glass vacuum tube product,” Koren said.

Advanced Photonix is a high-technology company that designs and manufactures silicon photodetectors and related products.