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API Nanotronics, Corp. (OTCBB: APIO) ("API") (the "Company"), a leading supplier of electronic components and nanotechnology research and development to the defense and communications sectors, today announced record orders of more than $9.0 million for the third quarter ended February 29, 2008. These orders include a record monthly total of $3.9 million in February 2008.
New orders in the quarter were strong across the company's divisions, highlighted by over $3.0 million from National Hybrid and $1.2 million from TM Systems. In partnership with Israel's Sital Technologies, National Hybrid introduced its new Aries line of 1553 communication products which are pick-and-place compatible with competitors' devices and for which demand is very strong. Orders in February 2008 at National Hybrid were $1.6 million, more than the previous two months combined. Also in the quarter, TM Systems was awarded a contract to supply two new landing navigation systems to a large US defense contractor.
Phillip DeZwirek, Chairman and Chief Executive Officer of API Nanotronics Inc., said, "API is now a key supplier to the world's largest defense and communication companies, as well as a true innovator in the sector. Our emphasis on technology driving new product introductions is delivering significant growth for our company."
About API Nanotronics, Corp.
API Nanotronics Corp., through its wholly owned subsidiaries API Electronics Inc., National Hybrid Inc., Filtran Group, TM Systems, Keytronics and API Nanofabrication Corporation, is engaged in the manufacture of electronic components and systems for the defense and communications industries. API is also developing a leadership position in the R&D and manufacture of nanotechnology and MEMS products. With a growing list of blue chip customers, including Honeywell/Allied Signal, General Dynamics, Lockheed Martin, and numerous other top technology-based firms around the world, API regularly ships products to clients in more than 34 countries. API owns state-of-the-art manufacturing and technology centers in New York, New Jersey, Florida and Ontario, Canada and has manufacturing capabilities in China and a distribution center in Britain. API Nanotronics trades on the OTC Bulletin Board under the symbol APIO. For further information, please visit the company website at www.apinanotronics.com
Safe Harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which API Nanotronics Corp. and its subsidiaries and affiliates have little or no control.
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Director of Corporate Communications
API Nanotronics Corp.
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