http://www.media-server.com/m/p/4x82m6yh )
Here are my notes regarding what they had to say.
First, there continues to be a slow adoption curve for THz in the industrial market. API announced the first and second sale of a T-Ray 4000, terahertz system for process control on the factory floor last January, followed by a second purchase order in March, to a company which makes roofing materials.
It has taken nine months from the date of the PO, for the company to finally complete it's new factory lines, which includes API's terahertz systems for use in quality control. The finished roofing material is now shipping.
Rob Risser, noted :"This is the first (terahertz) system to be used in an industrial setting for online, real-time process control, where they are shipping products to customers, so it's an important milestone to everybody."
I agree wholeheartedly, and if any of you have contrary information please share it with me.
I asked the question: "I know we have some competition, that's at least looming on the horizon. Do you have any indication that anyone is making movement in the industrial market, (besides API)."
Rob Risser gave an emphatic "No, There are none that are there to be seen."
Rick Kurtz followed up and stated: "There are some "researchy" type systems out there in the market place, but nobody is out there in the industrial market like we are-that's where our advantage lies because of the IP (intellectual property) we have surrounding it, the ruggedness (of the product), and everything we have put into it over the past 10 years." (parenthetical added)
Rob Risser, followed up, "We are way ahead".
The company also announced it is cost reducing it's next generation of terahertz systems and will complete this by the first quarter of the next fiscal year.
The TSA development of an anomaly detection device funded by In-Q-Tel, which was originally going to be delivered in before the first of the year has been "mutually delayed" until the 4th Quarter, to refine some software algorithms and enhance their maturity.
In regard to the use of THz on the F-35 joint strike Jet for both Northrup-Grumman and Lockhead-Martin is proceeding and API has been asked to expand it's development to accelerate the beta product development.
The company is also refining its applications for use of it's terahertz system as demonstrated by the recent sale of it's computed tomography system to NASA.
It's going to be an exciting 12 months is my prediction for THz and API.
PLEASE NOTE; THIS IS MY INTERPRETATION OF WHAT WAS SAID. I WILL CORRECT ANY ERROR OR OMISSION. SOME OF THE STATEMENTS MADE ARE SUBJECT TO SAFE HARBOR DISCLAIMERS:
The information contained herein includes forward looking statements that are based on assumptions that management believes to be reasonable but are subject to inherent uncertainties and risks including, but not limited to, unforeseen technological obstacles which may prevent or slow the development and/or manufacture of new products; potential problems with the integration of the acquired company and its technology and possible inability to achieve expected synergies; obstacles to successfully combining product offerings and lack of customer acceptance of such offerings; limited (or slower than anticipated) customer acceptance of new products which have been and are being developed by the Company; and a decline in the general demand for optoelectronic products. API-G
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