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Microcap & Penny Stocks : APA optics...APAT...very interesting..any thoughts....... -- Ignore unavailable to you. Want to Upgrade?

To: Duane L. Olson who wrote (337)	8/10/2001 7:29:14 PM
From: Alan Gallaspy	Read Replies (1) \| Respond to of 342

Ouch, there goes a nice order... APA Optics, Inc. Announces Cancellation of Order for DWDM Optical Component 8/10/2001 6:30:00 PM MINNEAPOLIS, Aug 10, 2001 /PRNewswire via COMTEX/ -- APA Optics, Inc. (APAT) announced today it had received notice from a customer canceling an order for its 16 channel, 50 Gigahertz (GHz) spacing dense wavelength division multiplexer/demultiplexer (DWDM) components. The customer cited concern over the time required to deliver qualified components and a potential conflict with its production schedule requirements as reasons for withdrawing the order, valued in excess of $500,000. "We are very disappointed by this development," said Anil Jain, the president and chief executive officer of APA Optics. "While we continue to make progress toward Telcordia GR1209 qualification, the customer determined that, based on our current status, the time required to achieve qualification didn't fit with its production schedule," said Jain. "Our products are leading edge and we are aggressive in accepting challenges related to delivering these types of products. We're disappointed, but we're not deterred." APA has a smaller order from this customer that was scheduled for delivery in July and delivery and acceptance of these DWDMs were the basis for the follow-on order. The July delivery date has now been moved to October, allowing APA more time to produce DWDMs that meet customer specifications. "We continue to work with the customer and see no reason why APA will not be competitive on bids for future production orders from this customer," added Jain. "This unfortunate development reinforces our commitment to accelerate efforts to automate manufacturing and achieve Telcordia qualification," said Terry VanderWert, general manager for Fiber Optic Products. "This objective will be one of our highest priorities." APA Optics, Inc. designs, develops, manufactures and markets advanced products for fiber optic communications, including dense wavelength division multiplexing (DWDM) components, and Gallium Nitride compound semiconductor-based ultraviolet detectors, instruments and consumer products. Additional information about APA is available at apaoptics.com Forward-looking statements contained herein are made pursuant to the safe harbor provisions of the Private Litigation Reform Act of 1995. These statements are based upon the Company's current expectations and judgments about future developments in the Company's business. Certain important factors could have a material impact on the Company's performance, including, without limitation, delays in or increased costs of production, delays in or lower than anticipated sales of the Company's new products, the Company's ability to sell such products at a profitable price, the Company's ability to fund operations, and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update such statements to reflect actual events. MAKE YOUR OPINION COUNT - Click Here tbutton.prnewswire.com SOURCE APA Optics, Inc. CONTACT: Anil K. Jain, CEO, 763-784-4995, anil@apaoptics.com , or Robert M. Ringstad, CFO, 763-784-4995, bob@apaoptics.com , both of APA Optics, Inc. URL: apaoptics.com prnewswire.com