Advanced Photonix Reports Loss for Year

Advanced Photonix Inc., a Camarillo maker of silicon photodetectors, reported increased losses for its fiscal fourth quarter and year ended April 3.

The company’s fourth-quarter loss was $1.65 million, in contrast to a year-earlier loss of $602,000. Its revenue rose 8% in the quarter, to $1.47 million from $1.35 million.

For the year, Advanced Photonix lost $3.9 million, while its revenue fell 12%, to $6.27 million. In fiscal 1993, it lost $2.3 million on $7.16 million in revenue.

Advanced Photonix blamed the large losses on lower-than-expected sales, particularly to the military sector, higher research and development costs, and adjustments made for obsolete inventory.

The company also said it reduced its work force by 14% in the fourth quarter.

Photodetectors convert light into electronic energy.