Advanced Photonix while reporting a rather dismal year overall, due primarily to supply chain problems in their high speed optical receivers market, showed remarkable growth for the year in THz sales.
"Industrial sensing and non-destructive test market revenues were $11.4 million in fiscal 2013, an increase of 6% or $631,000 from the fiscal 2012 revenue, up from $10.8 million. Our industrial sensing and non-destructive test revenue in the fourth quarter of the current year increased 47% or $1.2 million from the comparable prior year quarter. These increases are the result of higher terahertz contract and system sales, as well as approximately $298,000 in revenue from 1 month of activity with the net operating assets of Silonex, which was acquired by our Advanced Photonix Canada subsidiary."
Rob Risser stated:
"The terahertz product platform grew due to substantial contract revenue. In addition, our terahertz product platform concentrated on application development to support our developing value-added reseller channel and improving product reliability in order to support the demand in process control market requirements of operating 24/7, 365 days of the year. The good news is that our telecom revenue bottomed in the fourth quarter and is growing again as we enter fiscal 2014 as the supply chain issues are resolved."
" The terahertz product platform spent the year completing several contracts for applying terahertz to the F-35 Joint Strike Fighter jet platform. Developing the industrial process control value-added reseller channel and improving terahertz reliability in our T-Gauge product offering in order to address the industrial process and quality control requirements. This year marks the transition for the terahertz product platform as a research and -- as research and development moderates and contract revenue declines, which should be offset by industrial and laboratory market product sales increases."
Rick Kurtz added: "The world economy is starting to show enough growth to spur manufacturing investment. We introduced our fifth generation terahertz system, T-Gauge 5000 product line, specifically for this market. We're also in the process of attaining both UL and CE certification, and will be the only time-domain terahertz product in the world with such certification."
The only disappointing news was that the TSA approval of the anomaly detection device, Saf-T-Chek,slated for inclusion on the airport qualified providers list,(QPL), remains on hold. Looks like 2014 could be the break-out year for API.
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