API Tech (ATNY) Posts Wider than Expected Q3 Loss of 50c/Share; Retains Advisor in Asset Sale

API Technologies Corp. (NASDAQ: ATNY) reported Q3 EPS of ($0.50), $0.54 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $68.4 million versus the consensus estimate of $78 million.

API also announced today that in response to unsolicited interest in acquiring one or more of the Company’s business units, API’s Board of Directors has retained Jefferies & Company, Inc. as its financial advisor to assist the Board in evaluating the unsolicited interest as well as a full range of strategic alternatives.

API noted that there can be no assurance that this process will result in any agreement or transaction. API does not intend to discuss or disclose developments with respect to the Board’s process unless and until the Board has approved a specific course of action.

For earnings history and earnings-related data on API Technologies Corp. (ATNY) click here.

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