Giga-tronics Reports Third Quarter FY 2018 Results
GIGA-TRONICS INC (GIGA)
US:NASDAQ Investor Relations:
investor.gigatronics.com
Company Research
Source: GlobeNewswire
DUBLIN, Calif., Feb. 12, 2018 (GLOBE NEWSWIRE) -- Giga-tronics Incorporated (OTCQB:GIGA) (the “Company”) reported today its financial results for the third fiscal quarter and nine-month period ended December 30, 2017. For the third quarter of fiscal 2018, the Company reported revenue of $3.2 million which was the same as the comparable prior fiscal year period. Although total revenue was the same, revenues from the Company’s Giga-tronics Division increased by $1.1 million from the comparable prior year period primarily due to the fulfillment of a $1.7 million Navy ASG/ASA order which was entirely offset by a $1.1 million decrease from the Company’s Microsource business unit due to the winding down of non-recurring engineering services as well as lower product revenues as the Company fulfilled the remaining portion of its $4.5 million YIG RADAR filter order in the second quarter of fiscal 2018. Net sales for the nine-month period ended December 30, 2017 were $7.5 million, a decrease
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