Advanced Photonix, Inc. (AMEX: API) announced today that it has received an approximately $2,100,000 contract from a leading military contractor who is a prime supplier for the U.S. Navy’s Guided Missile Weapon System. The contract is for a custom photodiode and is expected to be completed within the next 10 months.
The Guided Missile Weapon System is the world’s most modern ship self-defense weapon, and has been specifically designed to provide exceptional protection for ships of all sizes.
The specific guided missile is a supersonic, light-weight, quick-reaction, fire-and-forget missile designed to destroy anti-ship missiles. Its autonomous dual-mode passive RF-to-IR guidance design, requiring no shipboard support after missile launch, uniquely provides high-firepower capability for engaging multiple threats simultaneously.
Commenting on the order, Adam Tabakian, API’s Director of Sales, said “We are very pleased to have been awarded this contract. This vital missile program has been one of the Navy’s most reliable missile guided systems, and we are proud to be a part of this successful endeavor for in excess of ten years. This is an ongoing program which has the potential to provide the Company with additional business in the near future.”
Advanced Photonix, Inc.® (AMEX: API - News) is a leading supplier of opto-electronic solutions and Terahertz instrumentation to a global OEM customer base. Products include the patented High speed optical receivers in APD and PIN configurations and silicon Large Area Avalanche Photodiode (LAAPD), PIN photodiode and FILTRODE® detectors. More information on Advanced Photonix can be found at http://www.advancedphotonix.com.
The information contained herein includes forward looking statements that are based on assumptions that management believes to be reasonable but are subject to inherent uncertainties and risks including, but not limited to, unforeseen technological obstacles which may prevent or slow the development and/or manufacture of new products; potential problems with the integration of the acquired company and its technology and possible inability to achieve expected synergies; obstacles to successfully combining product offerings and lack of customer acceptance of such offerings; limited (or slower than anticipated) customer acceptance of new products which have been and are being developed by the Company; and a decline in the general demand for optoelectronic products.
Contacts:
Richard Kurtz, 734-864-5600
or
Cameron
Associates
Richard Moyer, 212-554-5466
