APA
ENTERPRISES, INC. REPORTS CHANGES IN BUSINESS
OPERATIONS
AND FISCAL YEAR
MINNEAPOLIS,
MN, July 27 2007 -- APA Enterprises, Inc. (NASDAQ: APAT) announced
today the termination of its Optronics business. The termination will result
in
the disposition of all the Optronics assets. This action came as a result
of a
comprehensive evaluation of the business by senior management and brings
to
closure the announcement and action initiated June 22, 2007 to evaluate options
for this business. The Optronics segment was based on the Company’s GaN
technology and involved the design, manufacture and marketing of ultraviolet
(UV) detection and measurement devices.
In
addition, the Company has changed
its fiscal year end from March 31 to September 30. The September year end
will
better align the business and planning cycle of the Company to that of its
core
industry. The first complete new fiscal year will be October1, 2007 through
September 30,2008
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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 revenues 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.
APA
Enterprises, Inc., consists of APA Cables and Networks Inc., a wholly owned
subsidiary. APACN designs, manufactures and markets a variety of fiber optic
and
copper components to the data communication and telecommunication
industries. Additional information about APA Enterprises is available
at http://www.apaenterprises.com.
APA
Enterprises, Inc. Contact Information:
Cheryl
Beranek Podzimek
President
and CEO
investor-relations@apaenterprises.com
763-476-6866