Union Securities LTD: API Technologies reports on par Q1/F12

As API Technologies

continues to maintain revenue diversification, stays ahead of expectations, and opens up into the European customer based market we can expect an operating leverage that will drive EBITDA margins. Union Securities commented, “With API demonstrating it is executing on its integration plan, we believe a re-rating of the stock and multiple expansion is very likely if the company can show revenue growth and continued profitability improvement, which would indicate it has successfully integrated and extracted anticipated synergies from the recent acquisitions.” ATNY closed at $3.37 yesterday as Union Securities maintained its Buy rating and $8 PT.