Billionaire Boys Club Member Forum (BBCMF)

[rrufff]

AEGCF - 6 - the quarter shows the potential on this company. I think it goes past prior highs of $8.

o/s 2.4 million

Look at the numbers per share and this is just the beginning on this one.

API Electronics reports record revenues and net income for the first six months of fiscal 2006
Jan 30, 2006 11:27:00 AM

NEW YORK, Jan. 30 /PRNewswire-FirstCall/ - API Electronics Group Corp. (OTCBB: AEGCF) today announced record revenues of $8.2 million for the six months ended November 30, 2005, representing an increase of 38.3% over the same period in fiscal 2005, with three-month revenue increasing by 39.5% from $3.1 million in the second quarter of fiscal 2005 to $4.3 million in the same three-month period of fiscal 2006.

For the six months ended November 30, 2005, API earned net income of $613,063, or $0.24 per share, compared to $35,958, or $0.015 per share, for the six months ended November 30, 2004. For the second quarter of the current fiscal year, API reported net income of $357,680 or $0.14 per share, compared with $161,958 or $0.07 per share for the second quarter of the prior year, representing an increase of approximately 121% in net income.

"We are thrilled by the continued growth in sales and profitability," said Phillip DeZwirek, Chairman and CEO of API Electronics Group. "As a major supplier to the U.S. Department of Defense and with defense at the top of many political agendas, API is well positioned to capitalize on the opportunities in our industry. The strong demand for our products is well-evidenced by our sales backlog which has grown to $8.03 million as of November 30, 2005."

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. 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, Connecticut and Ontario, Canada and has manufacturing capabilities in China and a distribution center in Britain. 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.



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