AML Communications Plans Stock Offering

AML Communications Inc., a Camarillo company that produces amplifiers and other products for the communications industry, is planning to sell 1 million shares of stock to the public in an initial public offering.

AML, which was founded in 1986, hopes to expand its plant and repay loans by issuing the stock. In addition, some of the proceeds will be used as working capital, a source at the company said.

The official, who requested anonymity, said the company and its underwriters haven’t decided exactly how much cash they hope to raise through the offering.

“A figure has been mentioned, but I think the issuing price of the stock will depend on how the market is doing at the time,” the official said.

AML’s products are used mainly by other manufacturers. The company also works under government contracts.

“One of our biggest growth areas recently has been cellular communications,” the source said. “Cellular phone systems need a great many amplifiers. We’ve been providing a lot of these.”

The official declined to disclose AML’s revenues, but said the company has 80 employees.

The stock offering is scheduled to reach the market later this month. It is being managed by two securities firms--Wedbush Morgan Securities in Los Angeles and Van Kasper & Co. in San Francisco.