Giga-tronics has received an additional order worth $ 4.9 million, extending the production of its high performance RADAR filters for a major aerospace company. The company expects to begin initial shipments of the new order during the fourth quarter of fiscal 2018 and complete the bulk of the new order shipments over the following 9 to 12 month period.
As the sole source supplier of certain components within the high performance RADAR arena, Giga-tronics now expects to continue recent progress, addressing a market exceeding $30 million over the next few years. The company is also providing guidance on the second quarter of fiscal 2018, which ended on September 30, 2017. Net sales for the second quarter are expected to be in the range of $2.0 million to $2.2 million, compared to the $2.0 million reported in the first quarter of fiscal 2018 and $4.4 million reported in the second quarter of fiscal 2017. The foregoing guidance is based on management's current review of operations for the second quarter of FY 2018, and remain subject to change based on actual results, and subject to review by the company's independent accountants.
