June 7, 2007 -- API Nanotronics Corp. (OTCBB: APIO) ("API") (the "Company"), a leading supplier of electronic components to the global defense and communications sectors, announced today approximately $3.5 million in new orders for May 2007, which is a record for the Company.
Total new orders for the month of May equaled $3,497,996. In addition, API's backlog as of May 31, 2007 stood at $16,492,586, another record for the company. Order strength was evident across the Company's divisions and highlighted by $1.49 million from Filtran, a supplier of key components to the communications industry.
Phillip DeZwirek, Chairman and CEO of API, stated, "The record new orders for May and our record backlog is further indication of the strength in our businesses. We are particularly encouraged by the successful integration of National Hybrid. This acquisition is already a substantial contributor to API and looking to fiscal 2008; we believe there is tremendous opportunity for realization of further synergies and continued growth."
About API Nanotronics Corp.
API Nanotronics Corp., through its wholly owned subsidiaries API Electronics Inc., National Hybrid Inc., Filtran Group, TM Systems and Keytronics, 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 Nanotronics trades on the OTC Bulletin Board under the symbol APIO. For further information, please visit the company website at www.apinanotronics.com
Safe Harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which API Nanotronics Corp. and its subsidiaries and affiliates have little or no control.
ON BEHALF OF THE BOARD
API Nanotronics Corp.
Phillip DeZwirek, CEO