A semiconductor company is reporting financial savings from a two-year-long consolidation of its nationwide facilities into its Ann Arbor operation.

Advanced Photonix CEO Rick Kurtz said his firm leveraged “cost-cutting measures” and a “favorable product mix” to minimize financial damage in the quarter ending June 26 to a net loss of $296,000. That compares to a net profit of $147,000 in the same quarter of 2008.

Kurtz told investors in a conference call that the company’s facilities consolidation has paid dividends. The firm announced in 2006 that it would move its operations in Wisconsin and California to its Ann Arbor office.

The company’s fiscal-year first-quarter financial results, released late this afternoon, report quarterly revenue of $5.9 million.

The company attributed its loss to general economic conditions and coincidental calendar-related contractual issues that can cause figures to fluctuate from quarter to quarter.

Advanced Photonix is listed on the New York Stock Exchange under the ticker symbol API. The firm’s stock closed unchanged today at $0.71.

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