Investor News

API Technologies Reports Results for the Fiscal Fourth Quarter Ended November 30, 2013

  • Fourth quarter revenue of $59.1 million, up 10.7% over prior fiscal year fourth quarter
  • Revenue from continuing operations for fiscal year 2013 of $244.3 million compared to $242.4 million in fiscal year 2012
  • Term loan repayments totaling $92.4 million through February 12, 2014

ORLANDO, Fla.– (Business Wire) – February 12, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, today announced results for the fiscal fourth quarter and twelve months ended November 30, 2013.

API Technologies Wins New $3.9 Million Order for Microwave Subsystems from MBDA for Use in Sea Ceptor Program

ORLANDO, Fla.– (Business Wire) – February 11, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, today announced that it has received a new, $3.9 million order for microwave subsystems from MBDA for use in the Sea Ceptor program, MBDA’s next generation, single-tier, all-weather air defense system.

No additional information is available due to the secure nature of this program. 

API Technologies Earns FIPS 140-2 Publication Validation for Cryptographic Module from NIST: Module Added to Short List of Products Qualified to Protect Sensitive Government and Military Information

ORLANDO, Fla.– (Business Wire) - February 7, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, announced today that its Common Cryptographic Module has been validated by the National Institute of Standards and Technology’s (NISTs) Federal Information Processing Standard (FIPS) Publication 140-2.

This standard’s validation assures the U.S. Department of Defense, and its agencies, that API’s Common Cryptographic Module meets the rigorous security requirements for government and military use. Only modules tested and validated to FIPS 140-2 (and its predecessor FIPS 140-1) meet the applicability requirements to protect sensitive information.

API Technologies Announces Fourth Quarter Earnings Call

ORLANDO, Fla.– Business Wire – January 30, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, today announced that it would issue its earnings release for the fiscal fourth quarter and year-ended November 30, 2013 after the market closes on February 12, 2014. A conference call to review the Company’s results will be held on February 13, 2014 at 10 a.m. EST. Bel Lazar, President and Chief Executive Officer, and Phil Rehkemper, Executive Vice President and Chief Financial Officer, will host the call.

API Technologies Receives New $1.4 Million Order for Power Systems

ORLANDO, Fla.– January 22, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, announced today that it has received a new, $1.4 million order for TPS75 Tactical Power Supplies. The Company-designed power systems, which debuted at the Association of the United States Army (AUSA) Annual meeting and Exposition in October, will be used by the U.S. Department of Defense as a lightweight, mobile power supply to support a variety of C4ISR, UAV, and mission control applications.

API Technologies Completes Sale/Leaseback of State College, PA Facility

ORLANDO, Fla. & STATE COLLEGE, PA – January 6, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, announced today the completion of a sale/leaseback transaction for its State College, PA location, located at 1900 West College Avenue, to Store Capital, a real estate investment firm, for $15.6 million. The Company used $14.3 million of the proceeds to pay down the Company’s term loan facility with Guggenheim Corporate Funding, LLC. As of August 31, 2013, the Company’s last reported financial quarter, the Company had $88.0 million in term debt obligations. As of January 3, 2014, the term loan balance is now $72.6 million.

API Technologies Achieves AS9100 Rev C Certifications for Two Additional Facilities

ORLANDO, Fla. – December 11, 2013 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a trusted provider of RF/microwave, microelectronics, and security solutions for critical and high-reliability applications, announced today that it received two additional AS9100 Rev C aerospace site certifications, one for its RF/Microwave facility in Delmar, Delaware, and the other for its magnetics manufacturing operation in State College, Pennsylvania.

The AS9100 Rev C certification is based on the IAQG 9100-series standard quality management system requirements which are an internationally recognized quality management standard for the aerospace and defense industry. AS9100 certification involves a third-party verification process that includes a detailed review of the Company's quality processes and documentation. 

API Technologies Receives $2.2 Million Follow-On Order to Provide Microwave Products for Next Generation Counterfire Radar

ORLANDO, FL – (Business Wire) – November 5, 2013 – API Technologies Corp. (NASDAQ:ATNY) (“API Technologies” or the “Company”), a trusted provider of RF/microwave, microelectronics, and security solutions for critical and high-reliability applications, today announced that it has won a $2.2 million follow-on order to provide microwave products to a Fortune 100 defense prime contractor for use in a major US Army counterfire radar program.

No additional information is available due to the secure nature of this program.

About API Technologies Corp.

API Technologies designs, develops and manufactures electronic systems, subsystems, RF and secure solutions for technically demanding defense, aerospace and commercial applications. API Technologies' customers include many leading Fortune 500 companies. API Technologies trades on the NASDAQ under the symbol ATNY. For further information, please visit the Company website at www.apitech.com.

API Technologies Reports Results for the Fiscal Third Quarter Ended August 31, 2013

  • Revenue of $62.6 million, up 6.6% over prior fiscal year third quarter
  • Adjusted EBITDA of $8.4 million
  • Net income of $7.0 million

ORLANDO, FL – (Business Wire) – October 9, 2013 – API Technologies Corp. (NASDAQ:ATNY) (“API”, “API Technologies”, or the “Company”), a trusted provider of RF/microwave, microelectronics, and security solutions for critical and high-reliability applications, today announced results for the fiscal third quarter ended August 31, 2013. Results for continuing operations for the third quarter and comparable historical periods do not include the Data Bus product line or Sensors business, which were sold July 5, 2013 and April 17, 2013, respectively. Results for the Data Bus product line and Sensors business are reported under discontinued operations.

API Technologies Announces Third Quarter Earnings Call

ORLANDO, Fla. – (Business Wire) – September 27, 2013 – API Technologies Corp. (NASDAQ:ATNY) (“API Technologies” or the “Company”), a trusted provider of RF/microwave, microelectronics, and security solutions for critical and high-reliability applications, today announced that it will host a conference call to review the Company’s results for the fiscal third quarter ended August 31, 2013 on Thursday, October 10, 2013 at 10:00 a.m. Eastern Daylight Time. Bel Lazar, President and Chief Executive Officer, and Phil Rehkemper, Executive Vice President and Chief Financial Officer, will host the call.

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