Richard Kurtz, CEO, of ADVANCED PHOTONIX (API), notified investors yesterday of several significant developments in the sales and commercial acceptance of it's groundbreaking T-Ray 4000, terahertz portable scanner.
Kurtz noted that a contract for application development of the T-4000, was awarded by the United States Air Force, for the use of the system for quality control in the production of the F-35 fighter jet, being developed by both Northrop Grumman as well as by Lockheed Martin.
Kurtz noted that unlike the scope of earlier sales of the T-4000 to NASA, that this contract represents a very significant marketing opportunity for the company. This contract alone will provide the foundation for future system sales, as well as revenue for T-4000 service contracts,& spare parts, over the next decade.
Kurtz also announced the company has continued to invest and develop new product configurations for the T-4000. Two of these new configurations have resulted in sales, including a computer tomography application which has been delivered to NASA, and a prototype radome scanning system, which has been delivered to Hill AFB. These product application developments were funded by the customers, and pave the way for diverse commercial use.
Kurtz also announce that the company is focusing on significantly reducing the costs of the T-4000 product platform
to further enhance it's commercial acceptance and viability.
Lastly, Kurtz noted that while commercial acceptance of a brand new technology is a long and difficult process, that the company currently is working with two early adopters of the T-4000, for use in industrial control and process control. These customers are pilot trial testing the T-4000 on the factory floor. Two other commerical customers are currently engaged in final feasibility studies for use of the T-4000.
PLEASE NOTE: THIS IS MY INTERPRETATION OF WHAT I HEARD ON THE CONFERENCE CALL YESTERDAY. YOU CAN ACCESS THIS CALL AT THIS LINK:
http://biz.yahoo.com/cc/0/114390.html
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