ORLANDO --  API Technologies reported fiscal first-quarter revenue at its EMS segment plunged 41% year-over-year to $8.2 million. 

The contract electronics assembly unit had a backlog of $28.1 million as of Feb. 28, up 37% from a year ago, suggesting an improvement on the horizon.

The segment had adjusted EBITDA of $50,000, down 95% from a year ago. Gross margin was 6.5%, down from 13.1% in 2014. 

Overall revenue for the period was $50.9 million. The GAAP gross margin as a percentage of sales was 25.5%; non-GAAP gross margin was 26.6%. The net loss was $2.2 million, and adjusted EBITDA was $6 million.

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