API Technologies Reports Results for the Fiscal Second Quarter Ended May 31, 2014

ORLANDO, Fla.– (PR Newswire) – July 9, 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 second quarter ended May 31, 2014.

Results for the Quarter Ended May 31, 2014

API Technologies reported fiscal second quarter revenue of $53.2 million.

For the fiscal second quarter of 2014, GAAP gross margin as a percentage of sales was 19.6%; non-GAAP gross margin was 22.2%.

API Technologies posted a net loss of $15.0 million for the fiscal second quarter, primarily due to the write-off of note discounts and deferred financing charges from debt extinguishment, which were $10.2 million. Adjusted EBITDA for the fiscal second quarter was $4.3 million. Restructuring costs recorded in the three months ended May 31, 2014 were approximately $1.0 million.

API Technologies Wins High Power Amplifier Order for U.S. Department of Defense Maritime Program

ORLANDO, FL– (PR Newswire) – July 3, 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 it has received a new order to supply high-power amplifier systems as part of a DoD maritime requirement. This initial order is part of a multi-million dollar program with first production delivery set for May 2015.

This order follows API’s announcement of its expanded power amplifier product line made at the IEEE MTT-S International Microwave Symposium last month.

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

API Technologies Announces Promotion of Claudio Mannarino to Chief Financial Officer

ORLANDO, Fla.– (Business Wire) – June 23, 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 Claudio Mannarino, Senior Vice President, has been promoted to Senior Vice President and Chief Financial Officer, effective immediately, replacing Phil Rehkemper who resigned his position as CFO to accept another position. Mr. Rehkemper has served as CFO since April 2012. Mr. Rehkemper has agreed to remain with the Company until July 3, 2014 to assist in the CFO transition.

API Technologies Introduces 1,000 Watt Pulsed Power Amplifiers: Expanded line of GaN-based power amplifiers is targeted for TWT replacement

API Technologies - Pulsed Power Amplifiers
Orlando, Fla. – (Business Wire) - May 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, expands its line of Gallium Nitride (GaN) based power amplifiers to include designs that operate with output power levels up to 1,000 watts and frequencies to 18 GHz. These new pulsed, solid state power amplifiers are making their debut at the IEEE MTT-S International Microwave Symposium (IMS 2014) in Tampa, Florida.

These new power amplifiers can serve as a cost-effective replacement for traveling wave tubes (TWT), as the amplifiers’ long life and reduced size and weight offer better efficiencies than their TWT counterparts.

API Technologies Wins ECN IMPACT Awards: Recognized for Outstanding Achievement in Electronic Design and Groundbreaking Innovation

ORLANDO, Fla.– (Business Wire) – May 27, 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 been recognized by Electronic Component News (ECN) with two 2014 ECN IMPACT Awards, presented during the Electronic Distribution Show (EDS) held earlier this month.

Judged by panel of industry experts, the awards recognize outstanding achievement in electronic design and groundbreaking innovation.

API Technologies to Feature High Reliability, Engineer-Friendly Products at IMS 2014

Amplifiers, Microelectronics, Filters, Active and Passive Components, Integrated Microwave Assemblies, and System-Level-Ready Solutions to be Showcased

Orlando, FL May 23, 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, will showcase a wide variety of the company’s latest high reliability, engineer-friendly products during the 2014 IEEE MTT-S International Microwave Symposium (IMS 2014).  API will be in Booth 1515 during the exhibition, which takes place June 3-5 at the Tampa Convention Center in Tampa, Florida.

API Technologies’ Microwave System Enhances Receiver Range and Performance of Fast-Deployable Air Traffic Control Platform: Leverages Award-Winning Microwave Products to Aid in International Disaster Response

ORLANDO, Fla. – May 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, has received a strategic microwave systems order for a fast-deployable Air Traffic Control (ATC) platform used for global military missions, including humanitarian aid and disaster response.

Featured elements of the API Technologies integrated microwave solution include a Low Noise Amplifier (LNA) assembly and multi-coupler front end along with filter banks, both used to facilitate voice communications between air traffic controllers and the aircraft.

The microwave system’s hallmark is the ability to deliver linear, low noise performance to support high dynamic range receivers, which extends overall system range, enabling aircraft to take off and land safely.

New Wireless Communications Filter from API Technologies Eliminates AWS Interference

Ideal for Use by Television Stations, Broadcast Wireless Services, and Cellular Base Stations

Orlando, FL May 21, 2014 – API Technologies Corp. (NASDAQ:ATNY), a leading provider of high performance RF/microwave, power and security solutions for critical and high-reliability applications, announced today a new portable, wireless communications bandpass filter that eliminates Advanced Wireless Service (AWS) interference at Electronic News Gathering-Receive Only (ENG-RO) BAS Channel A7.

API Technologies Introduces Multi-Conductor Cable Assemblies for Satellites

New Rugged Cables Expand Company’s Space Offering

Orlando, FL May 15, 2014 – API Technologies Corp. (NASDAQ:ATNY), a leading provider of high performance RF/microwave, power and security solutions for critical and high-reliability applications, now manufactures a series of multi-conductor cable assemblies for satellites.  With this introduction, API has increased its capabilities of supporting space applications from its Electromagnetic Integrated Solutions (EIS) product line, the leader in EMI/RFI components and interconnects.

API Technologies Honors Top Electromagnetic Integrated Solutions Distributors and Sales Representatives at EDS 2014

Orlando, FL May 13, 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 revealed its annual Electromagnetic Integrated Solutions (EIS) international distributor and sales representative award winners. Awards were presented during the EDS 2014 industry event in Las Vegas, Nevada.

Top Distributor, EIS Products

TTI, Inc. of Fort Worth, Texas received Distributor of the Year honors for API’s EIS product line. TTI is a leading, international authorized distributor specialist and offers a broad line of passive, connector, electromechanical, and discrete components. 

Syndicate content