API Nanotronics Corp. (OTCBB: APIO) ("API" or the "Company"), a leading supplier of electronic components to the defense and communications sectors, is pleased to announce continued order momentum. The company has recently received over $1.2 million in new orders from a number of top defense contractors.
The new orders totaled $1,285,000 and are highlighted by an order for $520,000 at API's recently acquired National Hybrid division. The order is from one of the world's largest defense and aerospace companies and is part of a specific program that API believes has the potential to be repeated by other divisions within the defense contractor.
Phillip DeZwirek, Chairman and CEO of API, stated, "We are very encouraged by the continued momentum across our multiple divisions. We are also very proud of our ability to serve most of the best defense companies in the world. With the recent hiring of Dr. Moskovits we are looking forward to working with customers on an even broader number of products and projects and further enhancing these strong relationships."
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