viewAdvanced Photonix, Inc.

Advanced Photonix Subsidiary Wins Optical Receiver Contract Worth At Least $0.6 Million


Advanced Photonix (NYSE AMEX: API) said today its subsidiary, Picometrix, won a contract worth in excess of $625,000 to supply high-speed optical receivers to an undisclosed telecom systems provider.

Optical receivers, or fibre optic receivers, are a component of fibre optic networks  that helps translate light signals in the network into electrical signals. 

Under the contract, Picometrix will supply its 40 gigabit per second Gb/s optical receiver to the telecom systems provider over a three month period. 

"This design win with a major OEM [original equipment manufacturer] based in China, who is a key supplier to the rapidly growing BRIC [Brazil, Russia, India, China] markets confirms that our efforts at penetrating the China OEM market are beginning to bear fruit," said CFO of Advanced Photonix and of General Manager of Picometrix, Robin Risser.

“We anticipate additional design wins in both 100 Gb/s and 40 Gb/s products that will move to volume production status during the next fiscal year, "he added.

In fiscal 2009, Advanced Photonix reported $21 million in revenues. 
Advanced Photonix manufactures its optoelectronic devices for its two facilities in Camarillo, California and Ann Arbor, Michigan.

Adanced Photonix’s shares are up 4% to trade at $1.80 as of 2:41 pm EST.  Over the past year, the company’s shares have more than doubled.

Quick facts: Advanced Photonix, Inc.

Price: 38.99 USD

Market: NYSE
Market Cap: $3.87 billion

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