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Post# of 635637
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rrufff

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Re: rrufff post# 76332

Wednesday, 11/09/2005 1:56:58 PM

Wednesday, November 09, 2005 1:56:58 PM

Post# of 635637
AEGCF 4.70 + .53 HOD 5.00 - great quarterly results, o/s 2 million, float about 1 million, buying back shares, and now operational success.

API Electronics Group Corp Reports First Quarter Revenues Up 37% and Profit of $0.10 per Share
PR Newswire - November 09, 2005 08:00

NEW YORK, Nov 09, 2005 /PRNewswire-FirstCall via COMTEX/ -- API Electronics Group Corp. (OTCBB: AEGCF) reported today that revenues for the first quarter ended August 31, 2005 were $3,908,520 a 37% increase compared to revenues of $2,852,267 for the same period last year.

Net profit for the quarter was $255,383 or $0.10 per share as compared to a loss of ($126,000) or ($0.05) per share for the same period last year.

Cash and marketable securities were $1,300,752 at the end of the quarter and long term debt was down to $32,000.

API's back log at the end of August 2005 was $9,012,000 a 48% increase over the back log of $6,025,000 at the same time last year.

Phillip DeZwirek, Chairman and CEO of API Electronics Group stated that, "We are extremely pleased with our growth as it is mainly organic and appears to be continuing quite strongly. Our main emphasis this year will be to decrease costs and increase margins so as to have an improved bottom line."

Mr. DeZwirek added that, "API will continue to repurchase its common shares in the open market as circumstances permit."

ABOUT API ELECTRONICS:

API Electronics Group Corp., through its wholly owned subsidiaries API Electronics Inc., Filtran Group and TM Systems, is engaged in the manufacture of electronic components and systems for the defense and communications industries. API and its subsidiaries have been providing top of the line parts to numerous global producers of military hardware, telecommunications equipment, computer peripherals, process control equipment and instrumentation for a combined total of over 50 years. API's TM Systems subsidiary has been in business for over 30 years and provides critical systems to various U.S. government departments, including the United States Navy, as well as numerous domestic and foreign commercial corporations. With a growing list of blue chip customers, including Honeywell/Allied Signal, General Dynamics, Lockheed Martin and numerous other top technology-based firms around the world, API regularly ships off-the-shelf and custom designed products to clients in more than 34 countries. API owns state-of-the-art manufacturing and technology centers in New York State, Connecticut and Ontario, Canada totaling 51,000 square feet. The company also has manufacturing capabilities in China and a distribution center in Britain. Filtran and API Electronics are ISO 9001 registered companies. API Electronics trades on the OTC Bulletin Board under the symbol AEGCF. For further information about Filtran Group and API Electronics, please visit the company websites at www.filtran.com and www.apielectronics.com.

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward- looking statements are subject to certain risks, uncertainties and assumptions. These risks and uncertainties, which are more fully described in API's Annual and Quarterly Reports filed with the Securities and Exchange Commission, include changes in market conditions in the industries in which the Company operates. Should one or more of these risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary in material aspects from those currently anticipated.

SOURCE API Electronics Group Inc.

API Electronics Group, Tel: 1-877-274-0274, Phillip DeZwirek

http://www.prnewswire.com

Copyright (C) 2005 PR Newswire. All rights reserved.



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