http://finance.yahoo.com/news/advanced-photonix-announces-sale-t-145700763.html
ANN ARBOR, Mich., Oct. 24, 2013 /PRNewswire/ -- Advanced Photonix® (NYSE MKT: API), announced today that it has sold the first T-Gauge® 5000 system to a Fortune 500 aircraft component manufacturer. The T-Gauge® 5000 system will be used as an off-line nondestructive quality control instrument to provide inspection of components prior to assembly. The first system is planned to be installed in the industrial laboratory, where other products and processes can be evaluated. The T-Gauge® 5000 is upgradeable to add XY or CT translation movement for subsurface inspection of defects at a later date. This system is expected to be the first in a number of systems deployed to this market.
(Logo: http://photos.prnewswire.com/prnh/20130304/LA69982LOGO)The ability of terahertz energy to penetrate non-conducting materials allows inspection of products prior to assembly. The wide frequency content and high precision of the T-Gauge® 5000 terahertz source provides sensitivity to both physical and chemical changes in the product. Measurement of thickness, density, and certain material properties can be used to monitor the quality of the product being produced. Although initial work on application feasibility has been performed in conjunction with engineers at API, companies are beginning to take on this responsibility themselves allowing API to concentrate on just providing the terahertz sensor.
"This is another step in the market expansion for our T-Gauge® 5000 system. The aircraft market, both commercial and military, is one of the pillars of our sales and marketing strategy. The fact that our customers are deploying our equipment for quality control is a testament to the high value that they place on the capabilities that terahertz measurement provides. We are the worldwide leader in deploying terahertz into manufacturing environments. We continue to work with our value-added resellers and OEM's in application development for various markets and look forward to growing our sales and marketing channel in the coming fiscal year."
About Advanced Photonix, Inc.Advanced Photonix, Inc.® (NYSE MKT: API) is a leading supplier of optoelectronic sensors, devices and instruments used by Test and Measurement, Process Control, Medical, Telecommunication and Homeland Security markets. The company has three product lines: Optosolutions focuses on enabling manufacturers to measure physical properties, including temperature, particular counting, color, and fluorescence for Medical, Homeland Security and Process Control applications. The Terahertz sensor product line is targeted to the Process Control, to enable quality control, and Security markets through nondestructive testing. The T-Gauge® sensor can measure subsurface physical properties, like multi-layers thicknesses, density, moisture content, anomaly detection and some chemical features, online and in real time. High-Speed Optical Receiver (HSOR) products are used by the telecommunication market in both telecommunication equipment and in test and measurement equipment utilized in the manufacturing of telecommunication equipment. For more information visit us on the web at www.advancedphotonix.com.
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.
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