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TWST: We'd like to begin with a brief historical sketch of Advanced
Photonix and a picture of the things you're doing at the present time.
Mr. Kurtz: API was founded over 15 years ago with the idea of
commercializing a single product, which was referred to as a large area
avalanche photodiode. Over the next 12 years, API continued to solely
focus on this strategy without really re-evaluating the market for the
technology. In 2000, a new Board was brought in, including me as
Chairman, and a reassessment was made as to what API should do to
increase shareholder value. In 2002, we changed our vision and our
direction and became more active in M&A activity. Then, in 2003, a new
management team, including myself, was given the responsibility of
building on that foundation. We're now a company that has a much wider
vision and product offering. We have three product platforms '
optoelectronic solutions, high-speed optic receivers, and terahertz
systems and subsystems. All three of these product platforms leverage
our manufacturing capabilities, which include semiconductors, design and
fabrication, hybridization, fiberoptic coupling and assembly, and
standard and custom packaging. TWST: What are the principal products that you have been working on, and
what are the markets that you are addressing?
Mr. Kurtz: The first one, which we refer to as the optoelectronic
solutions or custom solution business, is engaged in the development and
manufacturing of various OEM subsystems that are used to support the
high reliability market to military, medical and industrial
applications. All of these components require optimization of the
semiconductor, the hybridization of supporting electronics, and the
custom packaging and signal conditioning from the prototype all the way
through full-scale production and validation. The high-speed optical
receivers are really focused in what's referred to as the OC192 and
OC768, or 10 Gigabit and 40 Gigabit Telcordia-qualified products. We
have both PIN and APD photodiodes that we package in Telcordia-qualified
packages, and we offer them to both test and measurement and the
transmission manufacturers for the telecommunications markets. The last
one is terahertz systems, and that is one of the breakthrough
technologies. We got that technology through the acquisition of our
latest company ' Picometrix in Ann Arbor, Michigan. They had been
working on it for a long time, and it's one of the last unexplored
frontiers of the electromagnetic spectrum. T-Rays occupy a slice of the
electromagnetic spectrum in between millimeter waves and visible light
and has some very interesting capabilities, not only for imaging
purposes, but also for spectroscopy or chemical composition information.
Terahertz imaging does have some very good spatial resolution, very
similar to that of the human eye. So we really are targeting this
product platform for the non-destructive testing market, which includes
homeland security for baggage and cargo scanning, pharmaceutical and the
quality control markets.
Tickers included in this excerpt: API
For more information call (212) 952 7433. The
Wall Street Transcript does not endorse any of the comments made by interviewees, and does
not make stock recommendations.
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