Relocating its headquarters from California to Michigan in 2006, Advanced Photonix, is a leading supplier of optoelectronic photo-detector components, subsystems and systems for telecommunications networks, medical diagnostics, military sensors, industrial quality control and homeland security screening.
The company and its University of Michigan spin-off subsidiary Picometrix (circa 1992) employ 170 people. About half of those people are based out of Ann Arbor. Since mid last year the company created 25 new jobs locally and plans to hire another 100 people in the next 3 to 5 years.
The tech firm specializes in making optimum electronic semiconductor sensors. These sensors are used by a wide variety of fields, ranging from homeland security's search for WMDs to eye scanners for the healthcare industry. Meanwhile, Picometrix focuses on making sensors for the telecommunications industry, one of the firm's most promising new sectors.
API's sensors are on the high-end of the technology pyramid, making them more expensive and more profitable. The firm's revenue has grown about 25 to 30 percent this year alone and is aiming for $30 million in revenue. Their profitability is expected to grow even higher.
The company's Ann Arbor facility provides space for manufacturing as well as R&D. Advanced Photonix has made a $2.6 million 2-year deal with an un-named military contractor for missile guidance systems.