Investor News

API Technologies Hires New Vice President of Worldwide Sales: Strategic Sales Executive with Successful Track Record in High Performance Electronics for Defense and Commercial Customers

ORLANDO, Fla.– (PR Newswire) – June 11, 2015 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF, microwave, millimeterwave, power, and security solutions today announced that Don Barnas has been named the Company’s new Vice President Worldwide Sales, effective June 8, 2015. In this role, Mr. Barnas will lead the Company’s worldwide sales, customer service, and field engineering teams to drive customer adoption of API’s full range of subsystem, module, and component products.

API Technologies Completes Acquisition of Inmet and Weinschel

ORLANDO, Fla.– (PR Newswire) – June 8, 2015 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF, microwave, millimeterwave, power, and security solutions today announced the successful completion of its acquisitions of Aeroflex / Inmet, Inc. (“Inmet”) and Aeroflex / Weinschel, Inc. (“Weinschel”) from Cobham plc (LON:COB) for a total purchase price of $80.0 million.

Combined, Inmet and Weinschel generated revenue of $51.4 million and EBITDA margins over 20% for the year ended December 31, 2014. The closing of the acquisition of Inmet and Weinschel adds breadth to API’s RF, microwave, and microelectronics product portfolio, extends the Company’s subsystems offering, and furthers API’s reach in key end markets, including defense, space, commercial aviation, and wireless.

API Technologies to Acquire Cobham Inmet and Cobham Weinschel

ORLANDO, Fla.– (PR Newswire) – April 23, 2015 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance radio frequency (“RF”), microwave, millimeterwave, power, and security solutions announced today that it has entered into a definitive agreement with a wholly owned subsidiary of Cobham plc (LON:COB) (“Cobham”), to acquire Aeroflex / Inmet, Inc. (“Inmet”) and Aeroflex / Weinschel, Inc. (“Weinschel” and together with Inmet, the “Acquired Companies”). Inmet and Weinschel have each been in business for more than 50 years, and each manufactures and sells RF and microwave products for defense, space, avionics, wireless, and test and measurement applications.

API Technologies Reports Results for the Fiscal First Quarter Ended February 28, 2015

ORLANDO, Fla.– (PR Newswire) – April 8, 2015 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF, microwave, millimeterwave, power, and security solutions, today announced results for the fiscal first quarter ended February 28, 2015.

Financial Results for the Quarter Ended February 28, 2015

API Technologies reported fiscal first quarter revenue of $50.9 million.

For the fiscal first quarter of 2015, GAAP gross margin as a percentage of sales was 25.5%; non-GAAP gross margin was 26.6%.

The Company posted a net loss of $2.2 million for the fiscal first quarter. Adjusted EBITDA for the fiscal first quarter was $6.0 million or 11.9% of revenue.

Recent Developments

API Technologies Issues First Quarter Earnings Advisory

ORLANDO, Fla.– (PR Newswire) – March 30, 2015 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF, microwave, millimeterwave, power, and security solutions, today announced that it will issue its earnings release for the fiscal first quarter ended February 28, 2015 after the market closes on April 8, 2015.

For more information on the Company, visit http://www.apitech.com/investor-relations or download the API Technologies Investor Relations App, which is available for iPhone® and iPad® via the Apple iTunes store and for Android™ devices via Google Play.

About API Technologies Corp.

API Technologies Announces Management Transition: Industry Veteran Robert Tavares Named President and CEO

ORLANDO, FL– (PR Newswire) – March 2, 2015 –API Technologies Corp. (NASDAQ:ATNY) (“API”), a leading provider of high performance RF, microwave, millimeterwave, power, and security solutions, announced today that Robert Tavares has been named President and Chief Executive Officer effective immediately. Mr. Tavares will also become a member of API’s Board of Directors. Bel Lazar, API’s current President and Chief Executive Officer, is leaving the company.

Brian Kahn, Chairman of the Board, said: “Bob is a seasoned RF/Microwave industry veteran with 30 years of leadership experience in both publicly traded and privately held electronics companies serving defense and commercial markets. Throughout his career, which includes experience at M/A-Com, Tyco Electronics, and most recently as President of Crane Electronics, Bob has demonstrated his ability to grow RF/microwave, microelectronics, and power businesses both organically and through acquisition. I am pleased to welcome Bob to API and look forward to his leadership.”

API Technologies Receives Patent for EOD Robot Aiming Device

ORLANDO, FL – (PR Newswire) – February 24, 2015 – API Technologies Corp. (NASDAQ:ATNY), a leading provider of high performance RF, microwave, millimeterwave, power, and security solutions, has been awarded a new patent (U.S. Patent No. 8,960,542) for its aiming device for a bomb disarming disrupter.

The Hawk-i™ Video Aiming Device uses a camera and a rangefinder to automatically assess range to target, then generates crosshairs on a video monitor. Bomb technicians then use this targeting guidance to fire a precise shot, which disarms the explosive. Use of the Hawk-i speeds aiming time and decreases chances of misfire due to human error.

API Technologies’ Quad Transmit Receive Module (QTRM) Offers Stackable Building Block Solution for Electronically Scanned Radar

ORLANDO, Fla. and MILTON KEYNES, UK – (PR Newswire) – February 23, 2015 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF, microwave, millimeterwave solutions, today announced that its Quad Transmit Receive Modules (QTRMs), part of the Company’s Active Antenna Array Unit (AAAU) solution for AESA radar, is now available as a standalone module. API’s QTRMs offer the industry’s first stackable building block solution for E-Scan (electronically scanned) radar.

API Technologies’ E-Scan radar solution is unique in the market place, as it supports a Line Replaceable Unit (LRU) approach to system maintenance. The QTRM units serve as the common module building block. These units can be easily added or swapped, which simplifies system integration, offers first line repair, and significantly reduces total cost of ownership.

API Technologies Reports Results for the Fiscal Fourth Quarter Ended November 30, 2014

ORLANDO, Fla.– (PR Newswire) – January 29, 2015 -

  • Q4 revenue of $57.8 million
  • Q4 GAAP Operating Income of $2.2 million; Non-GAAP Operating Income of $3.5 million
  • Q4 cash from operations of $3.3 million
  • FY14 GAAP Operating Income of $4.6 million; Non-GAAP Operating Income of $10.3 million

API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF, microwave, millimeterwave, power, and security solutions, today announced results for the fiscal fourth quarter ended November 30, 2014.

API Technologies Announces Fourth Quarter Earnings Call

API Technologies Announces Fourth Quarter Earnings Call

ORLANDO, Fla.– (PR Newswire) – January 16, 2015 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF, microwave, millimeterwave, power, and security solutions, today announced that it would issue its earnings release for the fiscal fourth quarter ended November 30, 2014 after the market closes on January 29, 2015, followed by a 4:45 p.m. Eastern Standard Time call to review the Company’s results. Bel Lazar, President and Chief Executive Officer, and Claudio Mannarino, Senior Vice President and Chief Financial Officer, will host the call.

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