Press Release

API Technologies Reports Results for the Fiscal Second Quarter Ended May 31, 2013

  • Revenue of $68.1 million, up 11.6% sequentially over prior fiscal quarter
  • Book-to-Bill ratio of 1.1
  • Term debt repayment of $75.9 million as of July 10, 2013
  • Net income of $7.5 million

ORLANDO, FL – (Business Wire) – July 10, 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 second quarter ended May 31, 2013. Results for continuing operations for the second quarter and comparable historical periods do not include the Sensors business, which was sold on April 17, 2013. Sensors business results are reported under discontinued operations.

API Technologies Receives $6 Million Follow-On Order to Provide Microwave Sub-Assemblies for Major European Weapons Program

ORLANDO, FL – (Business Wire) – July 9, 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 $6 million follow-on order to provide microwave sub-assemblies for a major European weapons 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.

Safe Harbor for Forward-Looking Statements

API Technologies Completes Sale of Data Bus Product Line to Data Device Corporation for $32.5 Million

ORLANDO, FL – (Business Wire) – July 8, 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 the sale of its Data Bus product line to Data Device Corporation (“DDC”) in a $32.5 million cash transaction. The Data Bus product line includes National Hybrid-brand products and UK-made MIL- STD-1553 and MIL-STD-1760 products.

API Technologies Announces Second Quarter Earnings Conference Call

ORLANDO, FL – (Business Wire) – June 28, 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, today announced that it will host a conference call to review the Company’s results for the fiscal second quarter ended May 31, 2013 on Thursday, July 11, 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.

The call will be available by dialing 1-877-317-6789 or 1-412-317-6789 and accessible by webcast at http://www.apitech.com. Recorded replays of the webcast will be available on the Company’s Investor Relations App, and for 30 days on the Company’s website and by telephone at 1-877-344-7529 or 1-412-317-0088, replay passcode #10030566, beginning 2:00 p.m. Eastern Daylight Time on July 11, 2013.

API Technologies Receives $1.3 Million Follow-On Order to Provide Electronics for Major DoD Weapons Program

ORLANDO, FL – (Business Wire) – June 25, 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 $1.3 million follow-on order to provide Electromagnetic Integrated Solutions (EIS) products for a major U.S. Department of Defense weapons program. This is the second follow-on order placed by this Fortune 100 customer and joins a $3.1 million order, announced in September, and a $1.9 million initial follow-on order, announced in December.

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

About API Technologies Corp.

API Technologies Receives ‘Best Custom Solutions’ Award During IMS2013

ORLANDO, Fla - June 17, 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 that it has been selected as the winner of Best Custom Solutions in Microwaves & RF’s ‘Best Of’ 2013 Awards. 

Voting took place among the Microwaves & RF online engineering community, who were asked to vote for favorite resources that make their jobs easier and help them to succeed. During this year’s International Microwave Symposium (IMS) show in Seattle, WA, Microwaves & RF presented the first annual ‘Best Of’ Microwaves Industry Awards, honoring this year's deserving winners and audience favorites.

API Technologies Receives $1.0 Million Follow-On Order to Support Major Electronic Defense Platform

ORLANDO, FL – (Business Wire) – June 6, 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 follow-on order, valued at $1.0 million, to provide critical electronic assemblies for a major electronic defense platform. This joins the competitively won $6.2 million order, from a leading prime contractor, announced last month.

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

About API Technologies Corp.

API Technologies and Carousel Industries Form Reseller Partnership for ION™SA5600-SAL: Avaya® SAL Edition

ORLANDO, Fla. — IAUG CONVERGE2013, Booth #333 — June 3, 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 has entered into a reseller agreement with Carousel Industries for the ION™SA5600-SAL:Avaya® SAL Edition. The ION SA5600-SAL is a security appliance with an embedded Avaya Secure Access Link (SAL) Gateway for fast SAL deployment. The device is Avaya Services Certified.

New EMCON® TEMPEST Zero and Thin Client Terminals Announced at CANSEC 2013

ORLANDO, Fla. and OTTAWA  — CANSEC 2013, Booth #1505 —  May 30, 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, today announced that their Secure Systems and Information Assurance (SSIA) business group has developed a series of TEMPEST high performance zero and thin clients under the EMCON® product line. They will be on display at the EMCON booth (#1505) during CANSEC 2013 at the Ernst & Young Center in Ottawa, Canada. 

New EMCON® TEMPEST Rugged Notebook Announced at CANSEC 2013

ORLANDO, Fla. and OTTAWA  — CANSEC 2013, Booth #1505 —  May 29, 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, today announced that their Secure Systems and Information Assurance (SSIA) business group has released a new TEMPEST Level I rugged notebook under the EMCON® product line. This new rugged notebook, along with the entire line of EMCON TEMPEST and government secure communications products, will be demonstrated at CANSEC 2013, Booth #1505. CANSEC runs May 29-30 at the Ernst & Young Center in Ottawa, Canada.

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