Advanced Photonix releases quarterly results

Advanced Photonix has reported that its net sales for the fourth quarter of fiscal 2010 were $5.1m (£3.4m) − a decline of $1m, or 16 per cent, from the comparable quarter of 2009.

Sequentially, revenues were up 12 per cent from the $4.6m reported for the third fiscal quarter of 2010.

Quarterly net loss was $846,000, or $0.03 per diluted share, compared with a quarterly net loss of $1.5m, or $0.06 per diluted share, for the prior-year quarter.