Giga-tronics Renews High Performance Filter Contract; Maximum Total $4.9M
Giga-tronics Incorporated (Nasdaq: GIGA) announced today that it has completed negotiations with a major aircraft supplier to continue delivery of its high performance filters. The new contract totals more than $4.9M if all options are exercised, which will extend production of the filters at Giga-tronics Microsource division through 2015.
Giga-tronics has just received the third year's release of this 4-year contract for $1.2M along with a separate order for spare Filters for $900K and will book these orders in the first quarter of the Company's 2013 fiscal year, which began April 1, 2012. Giga-tronics already booked orders for the first two years of this contract, totaling nearly $2.5M during its 2011 and 2012 fiscal years.
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