APA reports a sound beginning to fiscal year 1998

APA reports a sound beginning to fiscal year 1998

Fiberoptic communications manufacturer APA Optics (Eagan, MN) reported a 23% increase in revenues for its first-quarter results of FY1998, ended June 30, 1997. Revenues totaled $661,640, as compared to revenues of $538,388 in the first quarter of FY1997. The company reported a loss of $28,935 for the first quarter of 1998, as compared to a loss of $63,517 for the same period in 1997. Anil Jain, company president and CEO, says that the increase in revenues can be attributed to increased government contract work. Operations at the company`s new optoelectronics manufacturing center in Aberdeen, SD, began last month.