Giga-tronics (GIGA) Reports Q1 Loss of $0.03/Share
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Giga-tronics Reports First Quarter FY 2016 Results
July 28, 2015 4:00 PM EDTSAN RAMON, Calif., July 28, 2015 (GLOBE NEWSWIRE) -- Giga-tronics Incorporated (Nasdaq: GIGA) reported today net sales for the first quarter of fiscal 2016 of $4.4 million, a 2% decrease as compared to $4.5 million for the first quarter of fiscal 2015. The decrease in quarterly net sales was primarily due to the winding down of a $6.2 million nonrecurring YIG engineering (NRE) order. An associated $10.0 million multi-year YIG production order is scheduled to start shipping in the summer of 2016.
Net loss for the first quarter of fiscal 2016 was $629,000 or $0.10 per fully diluted common share. This compares... More
