Showing 1-10 of about 62 articles.
Giga-tronics Incorporated
Giga-tronics Announces the Sale of its SCPM Product Line to Teradyne for Approximately $1,000,000 is Completed
SAN RAMON, Calif., April 18, 2013 (GLOBE NEWSWIRE) -- Giga-tronics Incorporated (Nasdaq:GIGA), a leading provider of test and measurement equipment, today announced that it has completed the sale of its product line known as SCPM to Teradyne, Inc. ("Teradyne"), of North Reading, Massachusetts. The agreement for the sale was announced on March 19, 2013.
Giga-tronics Incorporated
Giga-tronics Announces the Sale of Its SCPM Product Line to Teradyne for Approximately $1,000,000
SAN RAMON, Calif., March 18, 2013 (GLOBE NEWSWIRE) -- Giga-tronics Incorporated (Nasdaq:GIGA), a leading provider of test and measurement equipment, today announced that it has entered into an Asset Purchase Agreement with Teradyne, Inc. ("Teradyne"), of North Reading, Massachusetts, pursuant to which it agreed to sell to Teradyne its product line known as SCPM for approximately $1,000,000. The closing of the sale is expected to occur on or about April 1, 2013.
Giga-tronics Incorporated
Giga-tronics Reports Third Quarter FY 2013 Results
SAN RAMON, Calif., Feb. 8, 2013 (GLOBE NEWSWIRE) -- Giga-tronics Incorporated (Nasdaq:GIGA) reported today a net loss of $865,000 or $0.17 per fully diluted share for the quarter ended December 29, 2012. This compares with a net loss of $2,613,000 or $0.52 per fully diluted share for the comparable period a year ago. Net sales increased 41% to $3,946,000 in the third quarter of fiscal 2013 compared to $2,799,000 in the third quarter of fiscal 2012. Gross margin increased by $2,074,000 over the same quarter last year. Operating expenses increased 15% or $323,000 in the third quarter of fiscal 2013 over fiscal 2012 primarily due to a $434,000 (or 58%) increase in product development expenses to invest in new instrument products and expenses associated with a previously announced restructuring totaling $99,000, which were partially offset by reduced selling, general, and administrative expenses. Orders decreased 10% in the third quarter of fiscal 2013 to $2,247,000 from $2,500,000 for the third quarter of fiscal 2012. The decrease in orders is primarily related to a decrease in switch orders which is a business characterized by large periodic orders.
Giga-tronics Incorporated
Giga-tronics Incorporated Adopts Shareholder Rights Plan
SAN RAMON, Calif., Jan. 24, 2013 (GLOBE NEWSWIRE) -- Giga-tronics Incorporated (Nasdaq:GIGA) today announced that its Board of Directors has adopted a Shareholder Rights Plan designed to assure that all Giga-tronics Shareholders would receive fair treatment in any takeover of the Company. The Plan provides for the distribution of one Right for each share of common stock outstanding on the record date of February 4, 2013.
Giga-tronics Incorporated
Giga-tronics Reports Second Quarter FY 2013 Results
SAN RAMON, Calif., Nov. 7, 2012 (GLOBE NEWSWIRE) -- Giga-tronics Incorporated (Nasdaq:GIGA) reported today a net loss of $1,064,000 or $0.21 per fully diluted share for the quarter ended September 29, 2012. This compares with a net loss of $665,000 or $0.13 per fully diluted share for the comparable period a year ago. Net sales decreased 17% to $3,405,000 in the second quarter of fiscal 2013 compared to $4,086,000 in the second quarter of fiscal 2012. Gross margin decreased by $249,000 over the same quarter last year. Operating expenses increased 7% or $148,000 in the second quarter of fiscal 2013 over fiscal 2012 primarily due to a $412,000 (or 65%) increase in product development expenses to more aggressively invest in new instrument products and expenses associated with a previously announced restructuring totaling $92,000. Orders increased 55% in the second quarter of fiscal 2013 to $3,818,000 from $2,465,000 for the second quarter of fiscal 2012. The increase in orders is primarily related to orders received from the U.S. government and from prime contractors.
Showing 1-10 of about 62 articles.