Giga-tronics Receives $2.4 Million Order From the U.S. Navy for Its Model 8003
Precision Scalar Analyzers
SAN RAMON, Calif., June 17, 2014 (GLOBE NEWSWIRE) -- Giga-tronics Incorporated
announced today that it has received an order from the Naval Air Warfare
Center in Pawtuxet River, MD valued at approximately $2.4 million associated
with its Model 8003 Precision Scalar Analyzer. The Company anticipates
shipping the equipment to the Navy over the next six months.
The Giga-tronics Model 8003 Precision Scalar Analyzer combines fast
measurement capability with the accuracy and linearity of a power meter in a
single instrument.John Regazzi, President and CEO of Giga-tronics, said "We
are committed to supporting the U.S. Navy's requirement for high accuracy
device calibration and are pleased to be selected as a supplier of critical
equipment for their metrology labs."
Giga-tronics is a publicly held company, traded on the NASDAQ Capital Market
under the symbol "GIGA".Giga-tronics produces instruments, subsystems and
sophisticated microwave components that have broad applications in defense
electronics, aeronautics and wireless telecommunications.
This press release contains forward-looking statements concerning
profitability, development of products, future growth, shareholder value,
backlog and shipments.Actual results may differ significantly due to risks
and uncertainties, such as future orders, cancellations or deferrals, disputes
over performance, availability of capital and capital resources, the ability
to collect receivables and general market conditions.For further discussion,
see Giga-tronics' most recent annual report on Form 10-K for the fiscal year
ended March 30, 2013, Part I, under the heading "Risk Factors" and Part II,
under the heading "Management's Discussion and Analysis of Financial Condition
and Results of Operations".
CONTACT: Steven D. Lance
Vice President of Finance/Chief Financial Officer
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