Advanced Photonix Projects Rapid Sales Growth
Optoelectronic component manufacturer Advanced Photonix says that it expects sales of its detectors to grow by between 15 and 20 per cent in the next 12 months.
The company, which makes silicon-, GaAs- and InP-based avalanche photodiodes and PIN detectors, currently runs wafer fabs in both Camarillo, CA, and Dodgeville, WI, but is in the process of consolidating its chip making operations to a single facility in Ann Arbor, MI.
In its fiscal 2006 results for the 12 months that ended on March 31 this year, the company reported sales of $23.6 million, up strongly from $14.8 million last year and mostly a result of its March 2005 acquisition of Picometrix.
That deal has enabled Advanced Photonix to penetrate the telecommunications market, while it has also witnessed strong growth for industrial sensing and homeland security applications of its detectors.
CEO Richard Kurtz said, "Fiscal 2006 has been an exciting year. We have [gone] from a single product line to a three-product-line company. Looking to 2007, we are projecting revenues to grow by between 15 and 20 per cent over 2006."
Overall, Advanced Photonix reported a net loss of $3.5 million for fiscal 2006, compared with a net profit of $5.3 million in the prior year. This was largely a result of increased research and development costs and a variety of one-time charges and write-offs.