Article: Advanced Photonix opens clean room, cuts 4Q losses.(News)(Financial report)

Byline: Tom Henderson

It's been an eventful summer for Ann Arbor-based Advanced Photonix Inc. (Amex: API).

On June 7, the company opened its new, $2.3 million, 5,000-square-foot clean-room fabrication facility. The next day, the space shuttle Atlantis successfully launched into orbit for its rendezvous with the International Space Station. And on June 30, Advanced Photonix announced it had sharply cut losses for both the fourth quarter of its fiscal year that ended March 31 and for the full fiscal year.

Losses for the quarter were cut to about $1.3 million, down from more than $2.5 million for the same period last year.

For the year, ...

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