Giga-tronics Reports Second Quarter FY 2018 Results
GIGA-TRONICS INC (GIGA)
US:NASDAQ Investor Relations:
investor.gigatronics.com
Company Research
Source: GlobeNewswire
DUBLIN, Calif., Nov. 14, 2017 (GLOBE NEWSWIRE) -- Giga-tronics Incorporated (OTCQB:GIGA) (the “Company”) reported today net sales for the second quarter of fiscal 2018 of $2.2 million, a 49% decrease as compared to $4.4 million for the second quarter of fiscal 2017. Net sales for the six-month period ended September 30, 2017 were $4.2 million, a decrease of 46%, compared to $7.8 million for the six-month period ended September 24, 2016. The decreases in net sales for both periods were primarily due to lower sales associated with the legacy products (sold to Astronics in June 2016); a decrease associated with the Company’s new ASG product; a decrease primarily associated with the winding down of non-recurring engineering services as well as lower product revenues following the completion of the $4.5 million order for YIG RADAR filters in the first quarter of fiscal 2018. Net loss for the second quarter of fiscal 2018 was $1.1 million, or $0.11 per fully diluted common share. This co
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