API Nanotronics Corp. (APIA.OB) Reports Record First Quarter Revenues of $9.2 Million and Completes Cryptek Acquisition for Expansion in Defense and Secure Communications
API Nanotronics Corp., a prime contractor for secure communications and electronic components to the global defense and aerospace industry announced operating results for the first quarter of fiscal 2010 ended August 31, 2009. Financial Highlights: -- Net revenue for the first quarter of fiscal 2010 was $9.2 million, a 16% increase over fiscal 2009 first quarter revenue of $7.9 million. This revenue includes the contribution from Cryptek as at the date of the acquisition on July 07, 2009; -- First quarter Gross Profit increased to $2.3 million in the first quarter of fiscal 2010 compared to $2.1 million in the…