Giga-tronics Receives Multi-Year Order Valued at up to $8.4 Million for High Performance RADAR Filter Products
GIGA-TRONICS INC (GIGA)
US:NASDAQ Investor Relations:
investor.gigatronics.com
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Source: GlobeNewswire
DUBLIN, Calif., Nov. 06, 2019 (GLOBE NEWSWIRE) -- (OTCQB: GIGA) —Giga-tronics Incorporated (the “Company”) announced today that it has received a multi-year production order from a major prime contractor for its high-performance RADAR filters, which are a part of the Company’s custom microwave products used in airborne military applications. The order includes a firm commitment for the first year’s production valued at $2.9 million with options for additional units to be delivered in the second and third years valued at $5.5 million. The Company expects to begin recognizing revenue of this order beginning in the current quarter ending December 31, 2019. John Regazzi, the Company’s chief executive officer stated, “I am pleased to have our customer's continued confidence in Giga-tronics as a sole source supplier of these high-performance filters. We remain committed to meeting their high standards for quality, reliability and on-time delivery.” About Giga-tronics Incorporated Giga-
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