Advanced Photonix Announces Net Loss

Advanced Photonix in Camarillo reported a net loss of $203,000, or 2 cents, per share for the first quarter that ended June 29, compared with a net loss of $310,000, or 3 cents per share, in last year’s first quarter and a net loss of $593,000, or 5 cents per share, in the previous quarter.

First-quarter revenues totaled $1.5 million, compared with $1.8 million in the first quarter of last year and $1.4 million in the previous quarter.

In announcing the results, company President Harry Melkonian said the numbers were in line with expectations.

“We are very encouraged by the significant reduction . . . in our net operating loss compared with the prior quarter on relatively constant sales volume,” Melkonian said.

Company officials said they responded to the disappointing results of last fiscal year by reorganizing and placing greater emphasis on sales and marketing, consolidating core business and manufacturing operations and reducing research and development costs.

Advanced Photonix designs and manufactures silicon photodetectors.