Brief: Giga-Tronics Q4 loss per share $0.05

Gresham Worldwide

20/06/2017 21:04

June 20 (Reuters) - Giga-tronics Inc  GIGA.O  
    * Giga-Tronics reports results for the fourth quarter and FY 
2017 
    * Q4 non-GAAP loss per share $0.04 
    * Q4 loss per share $0.05 
    * Q4 sales rose 93 percent to $5.2 million 
    * Sees Q1 2018 sales $1.3 million to $1.7 million 
    * Company exited Q4 with $11.4 million in total backlog 
    * For personal reasons, Joey Thompson is stepping down from 
acting CEO role and will instead be named executive chairman 
    * Giga-Tronics inc - joey Thompson is stepping down from 
acting ceo role and will instead be named Executive Chairman 
    * Giga-Tronics Inc - company's board of directors is in 
process of reviewing strategic alternatives in an attempt to 
enhance shareholder value 
    * Company further announced that John Regazzi and Suresh 
Nair will be named co-chief executive officers 
    * Giga-Tronics inc - company's board of directors has not 
yet set a timetable for strategic review process 
    * Giga-Tronics inc - further, board of directors has not 
made a decision to pursue any particular transaction 
    * Company's board is in process of reviewing strategic 
alternatives 
    * Giga-Tronics- strategic alternatives viewed by co include 
possible sale, merger, spin-off or other separation of a 
selected business 
    * Company anticipates its net sales for q1 of fiscal 2018 
which ends june 24, 2017 to be in range of $1.3 million to $1.7 
million 
 
Source text for Eikon:  ID:nGNXNXJHUa  
Further company coverage:  GIGA.O  
 
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