Advanced Photonix, Inc. Reports Q3 EPS of $0.01 vs. $(0.03)

Advanced Photonix, Inc. API announced today that its third quarter 2011 revenue increased by 68% and Adjusted EBITDA improved by $1.1 million compared to the prior year's third quarter results. The Company's revenues increased 68% (or $3.1 million) for the quarter to approximately $7.7 million compared to $4.6 million for the third quarter ended December 25, 2009. Year to date revenues are up $5.0 million (or 32%) to $21.0 million over the first nine months of fiscal year 2010. The Non-GAAP net profit for the third quarter of fiscal year 2011 was $259,000 ($0.01 per diluted share), compared to Non-GAAP net loss of $922,000 ($0.04 per diluted share), for the comparable prior year period. Year to date Non-GAAP net profit was $565,000 ($0.02 per diluted share), compared to Non-GAAP net loss of $1.1 million ($0.04 per diluted share) for the prior year nine-month period ended December 25, 2009.