Giga-tronics reports Q4 bookings exceeding $8M

Giga-tronics, Inc. d/b/a Gresham Worldwide announced its global new business bookings exceeded $8 million for the most recent quarter ending December 31, 2022. Gresham continues to drive new business with increased focus on integrated Radio Frequency filter solutions systems within the defense sector as well as an expanded product offering with technology solutions for medical applications. Ongoing geopolitical military conflict, supply chain turmoil and inflation are expected to drive continued demand from customers for Gresham’s product offerings in 2023 and beyond. Increasing defense budgets for electronic technology solutions have created opportunities for Gresham to expand relationships with the U.S. Department of Defense, Global Defense Ministries and Tier One Defense Contractors. For the fiscal year ended 2022, Gresham had a backlog of approximately $30 million, up from $25 million for the prior fiscal year, providing a pathway for stable growth. The recent share exchange between Giga-tronics and Gresham Worldwide expanded both Gresham’s customer base and portfolio of solutions. Gresham’s management team expects continued global demand for technology solutions to support mission critical applications in defense, medical, transportation and telecommunications in 2023. Gresham continues to drive operational efficiencies post-merger, reducing operating expenses and streamlining manufacturing processes. Gresham is focused on meeting new requirements for existing customers and developing business with new customers to drive bookings and build additional backlog in 2023.