API Technologies Reports Results for the Fiscal First Quarter Ended February 28, 2014

  • Revenue of $58.9 million
  • Capital structure simplification announced March 26

ORLANDO, Fla.– (Business Wire) – April 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 first quarter ended February 28, 2014.

“We delivered solid results this quarter, highlighted by Adjusted EBITDA expansion, cash generation, and overall margin improvements,” said Bel Lazar, President and Chief Executive Officer of API Technologies. “We continue to see sales funnel growth and strong customer adoption of our differentiated products across a diverse set of end markets. Furthermore, the simplification of our capital structure and reduction in API’s net liabilities related to the recent redemption of preferred stock delivers value to our shareholders.”

API Technologies Receives New $2.1 Million Order for Optical Network Solutions

ORLANDO, Fla.– (Business Wire) – April 2, 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 $2.1 million Power and Electromagnetic Integrated Solutions (EIS) order from a leading optical network company, host to the world’s largest wireless, broadband, and telecom providers.

The -48V DC Power Distribution Units are an integrated API Technologies solution, aimed at ensuring consistent clean power to the Optical Transport Network (OTN) and preventing system outages. The solution incorporates soft start, surge suppression, alarming, and EMI filtering capabilities to provide EMC protection and ensure consistent performance.

API Technologies Announces First Quarter Earnings Call

ORLANDO, Fla.– (Business Wire) – March 28, 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 first quarter ended February 28, 2014 after the market closes on April 9, 2014. A conference call to review the Company’s results will be held on April 10, 2014 at 10 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.

API Technologies Announces Preferred Stock Redemption and Consolidation of Credit Facilities

ORLANDO, Fla.– (Business Wire) – March 26, 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 the redemption of all of its Series A Preferred Stock for $27.6 million. Additionally, the Company amended its credit agreement with Guggenheim Corporate Funding, LLC, as administrative agent, to provide for an additional $55.0 million term loan. The proceeds of the incremental term loan were primarily used to redeem the Series A Preferred Stock and to pay off the Company’s asset backed revolving loan facility.

Bel Lazar, President and Chief Executive Officer of API Technologies said: “This transaction results in an immediate reduction in API’s net liabilities and simplifies our capital structure without incurring any dilution to our equity holders.”

About API Technologies Corp.

Power Systems and EMI Solutions to be Highlighted by API Technologies at APEC 2014

Power management products, power filters, and film capacitors to be spotlighted

Orlando, FL – February 28, 2014 – API Technologies Corp. (NASDAQ:ATNY), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, will showcase its Power Systems and Electromagnetic Integrated Solutions product lines at Booth #1133 during the Applied Power Electronics Conference (APEC). The APEC 2014 Exhibition takes place March 17-19, 2014 at the Fort Worth Convention Center in Fort Worth, TX.

Durable, Low Pressure Overmolded Backshell Cable Assemblies Available from API Technologies

Backshells Offer Improved Reliability and Superior Strain Relief

Orlando, FL February 24, 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 offers durable, low pressure overmolded backshells on connector interfaces from its Electromagnetic Integrated Solutions (EIS) product line, the leader in EMI/RFI components and interconnects. This simplified backshell design is readily available and more cost-effective than its metal counterpart.

Surface Acoustic Wave Oscillators (VCSOs)

The API725 Series high performance line of SAW oscillators provides superior performance at operating frequencies of 350 MHz to 4,000 MHz.

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. 

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