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SOURCE Advanced Photonix, Inc
ANN ARBOR, Mich., March 18, 2013 /PRNewswire/ -- Advanced Photonix® (NYSE MKT: API), a leading supplier of Optoelectronic components, sub-systems and systems to industry, announced today that it has booked a $1,562,072 order to ship within the next 20 months. The order is for a custom photodiode used for the Navy's Guided Missile Systems. The Navy's 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.
This 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.
In commenting on the order, Jean-Pierre Maufras, API's General Manager of the Optosolutions Group, said, "We are honored to have been awarded this contract. This missile program has been one of the Navy's most reliable missile guided systems and API is proud to continue to be a part of this successful endeavor. We have been continuously working with the OEM to improve the products and its reliability and we are delighted to see our hard work rewarded by this vote of confidence. This is an ongoing program and we are confident we will see additional business in the near future as we are well positioned to support our customer efforts spanning to 2020."
About Advanced Photonix, Inc.
Advanced Photonix, Inc.® (NYSE Amex: API) is a leading supplier with a broad offering of optoelectronic products to a global customer base. We provide optoelectronic solutions, high-speed optical receivers and terahertz instrumentation for telecom, homeland security, military, medical and industrial markets. With our patented technology and state-of-the-art manufacturing we offer industry leading performance, exceptional quality, and high value-added products to our OEM customer base. For more information visit us on the web at 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. API-G
Torrey Hills Capital
Jim Mac Donald, CFA
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