Advanced Photonix revenues rise in first-quarter 2011

Advanced Photonix, a provider of opto-electronic solutions, has revealed that revenues for its first-quarter 2011 period, which ended on 2 July 2010, were $6.3m (£4m), which represented an increase of five per cent, or $319,000, over revenues of $5.9m for the first fiscal quarter of 2010.

Gross profit was $2.9m − down three per cent from $3m in the prior-year period.

Quarterly net loss was $273,000, or $0.01 per diluted share, compared with a net loss of $296,000, or $0.01 per diluted share, for the quarter ended 26 June 2009.

Non-GAAP net profit was $97,000, or $0 per diluted share, compared with non-GAAP net profit of $315,000 or $0.01 per diluted share, for the comparable prior-year period.