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API Technologies Swings To Q1 Profit

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API Technologies Corp. (ATNY: Quote) Monday swung to a first-quarter profit from a loss last year, helped mainly by higher revenues and stronger margins.

Net profit for the quarter was $0.8 million or $0.01 per share, compared to a net loss of $10.5 million or $0.57 per share in the same period last year.

First-quarter net revenues increased to $70.7 million from $24.6 million last year. Gross margin advanced to 24.9 percent from 18.9 percent last year.

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by RTT Staff Writer

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