Fact Sheet - API Technologies

Investor Brief FY15
FY1 Q1
Investment Data
NASDAQ:
Fiscal Year End:
52-Week High/Low:
Market Cap1:
Enterprise Value1:
Shares Outstanding:
Company Profile
ATNY
November
$2.92/$1.77
$119M
$230M
55M
API Technologies is a leading provider of RF, microwave, millimeterwave, power,
and security solutions for high performance defense, commercial aviation,
aviation industrial,
and communications applications. The company is an established supplier to major
defense, space, and industrial programs.
Products/solutions areas span: RF, Microwave & Microelectronics and
Electromagnetic Integrated Solutions (EIS), Power Solutions, Secure Systems &
Information Assurance, and Electronics Manufacturing Services (EMS).
1 Apr 9, 2015, first trading day after Q1 earnings announced
Government and
Security
End Markets
Key Customers
• BAE Systems
• Boeing
• Ciena
• Harris
• Lockheed Martin
• PCTel
• Raytheon
• Selex
• Sierra Nevada
• Syracuse Research Corp.
LTM-ended
ended February 28, 2015
Medical,
Industrial and
Commercial Aero
65.9
70
58.4
62.0
Communication
and Consumer
13%
Secure Systems &
Information Assurance (SSIA)
68.3
64.2
58.8
58.3
62.6
59.1
Electronics Manufacturing
Services (EMS)
58.9
53.4
60
53.2
57.8
56.9
50.9
50
40
30
25.0
20
10
0
May-11 Aug-11 Nov-11
Feb-12 May-12 Aug-12 Nov-12
Feb-13 May-13
13 Aug-13 Nov-13
Feb-14 May-14 Aug-14 Nov-14
Feb-15
Does not include Sensors business (sold April 2013) and Data Bus product line (sold July 2013), both now
reported as Discontinued Operations
Company EBITDA Trend ($M)
11
10
9
8
7
6
5
4
3
2
1
0
-1
-2
-3
10.1
8.9
Adj. EBITDA
8.4
7.3
9.3
7.4
6.1
Adj. EBITDA %
7.8
6.3
6.3
6.5
5.2
4.3
(1.5)
54%
25%
Revenue by Segment ($M)
Systems, Subsystems
& Components (SSC)
Defense
8%
7.2
19%
17%
15%
6.0 13%
11%
9%
7%
5%
3%
1%
-1%
-3%
-5%
-7%
Investment Highlights
• Differentiated products with strong,
design-in
in positions 90%+ sole/primary
source with recurring revenue streams
• Focus on profitability Demonstrated
ability to generate Adjusted EBITDA
profitability and outperform competitors,
in spite of challenging market conditions
• Established leader in high-barrierhigh
toentry markets One of the world’s largest
merchant suppliers
supplier of RF and microwave
products; leading
eading provider to 300+
established and emerging defense,
satellite,
tellite, space, and commercial aviation
a
programs
Recent Highlights
• Robert Tavares joins as President and
Chief Executive Officer, effective
March 2, 2015 Brings 30+ years of
leadership and experience in
microelectronics and semiconductor
companies; most recently served as
President of Crane Electronics, part of
Crane Co. (NYSE: CR)
www.apitech.com
E: investors@apitech.com