Advance Photonix Reports 33% Increase in Net Sales

Advanced Photonix Inc. in Camarillo reported that net sales for the third quarter ended Dec. 24 were $1.8 million, an increase of 33% from $1.3 million reported in the third quarter of the previous year.

The company reported net income of $125,000, or 1 cent per share, compared with a net loss of $96,000, or 1 cent per share in last year’s third quarter.

The company said the increase in sales came primarily from the military aerospace market, which increased by 119% over the same quarter a year earlier. In addition, the company reached its goal to reduce overall operating expenses, which decreased 3% compared with the third quarter of fiscal year 2000.

“I am pleased to report that we have sustained operating profitability through the current fiscal year and for four consecutive quarters,” said Brock Koren, president and chief executive. “Our primary goals have been, and will continue to be, focused on increasing revenues and improving shareholder value.”

Advanced Photonix manufactures silicon-based electro-optical products.