API Technologies Corp. (NASDAQ:ATNY) announced results for the three and six months ended November 30, 2011. reported revenue of $75.1 million for the quarter ended November 30, 2011 compared to $25.9 million for the same period in the prior year, primarily due to the acquisitions of Spectrum Control and SenDEC. Sequentially, revenue increased 8.5% from the quarter ended August 31, 2011 due primarily to increased military sales. Gross profit was $17.8 million compared to $6.4 million in the previous year's November quarter; gross margin was 23.7% for the period ended November 30, 2011, versus 24.9% in the comparable period last year. Adjusted EBITDA was $11.4 million for the quarter compared to $1.9 million for the three months ended November 30, 2010.
API Technologies Corp. designs, develops, and manufactures electronic systems, subsystems, RF/microwave, secure systems, and information assurance products and solutions for defense, aerospace, and commercial applications.
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