Advanced Photonix, Inc. (API) reported a first-quarter net loss of $993,000 or $0.03 per share, compared to the net income of $18,000 or breakeven per share in the comparable quarter last year.
Excluding items, non-GAAP net loss for the quarter was $689,000 or $0.02 per share, compared to the non-GAAP net loss of $96,000 or breakeven per share in the year-ago period.
Net sales for the latest quarter declined 23 percent to $6.2 million from $8.1 million last year.
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