Posts Tagged ‘GIGA’

GIGA gallops, MSFT heavy volume, ICGN pained

Wednesday, December 1st, 2010

Gigatronics Inc. (NasdaqCM: GIGA) gained 18.72 percent to $2.60 at Wednesday’s close Volume was 103,119 shares, whereas its normal daily volume is 8,531. The San Ramon, Calif.-based GIGA announced today that it has received orders in excess of $4.8 million to supply microwave test equipment for the automation of production at contract manufacturers in China. The products supplied are part of Giga-tronics’ microwave signal switching family. These orders are expected to ship this Fiscal Year.

Microsoft Corp. (NasdaqGS: MSFT) Wednesday traded in 72,816,781 shares, slightly better its daily share average of 61,957,100. Shares nudged up 3.1 percent to $26.04. MSFT

Icagen Inc. (NasdaqGM: ICGN) dropped 13.76 percent in Wednesday afternoon trading, to $1.88, on volume of 2,640,381 shares, compared to its average daily volume of 171,532. The North Carolina-based ICGN today provided an update on its sodium channel program for pain and related disorders which is being conducted in collaboration with Pfizer. Based upon data obtained in this study, the companies have now selected one of these compounds to advance into further clinical studies. The selection of this compound has triggered a milestone payment to Icagen of $1.0 million.

Giga-Tronics, Inc. (Nasdaq: GIGA) Buzz Stock of the Day

Thursday, October 29th, 2009

Shares of Giga-Tronics, Inc. (Nasdaq: GIGA) were up more than 44 percent today from yesterday’s close, touching on a high of $2.78 after the company reported profit for the second quarter, marking the fourth, consecutive, profitable quarter for the company.

For the quarter ending September 26, 2009, Giga-Tronics reported a net profit of $373,000 or 8 cents per share, compared to a net loss of $540,000 or 11 cents per share for the same period last year. Net sales for the quarter increased 25 percent to $4.6 million compared to $3.6 million for the same quarter a year ago. Giga-Tronics’ gross margin improved to $2.1 million, an increase of $775,000 over the same period last year. As a percentage of net sales, gross margin improved 9.4 percent to 45.7 percent, from 36.3 percent in the second quarter of fiscal 2009. Orders increased to $4.8 million in the second quarter from $3 million for the second quarter of fiscal 2009. Cash and cash equivalents at September 26, 2009 were $1,345,000 compared to $1,551,000 as of June 27, 2009.

Giga-Tronics, Inc. specializes in instruments, sub-systems, and sophisticated microwave components that have broad applications in both commercial communications and defense electronic s systems. The company focuses on three principal product areas: test measurement instrumentation, signal switching solutions, and microwave components.