Giga-tronics Announces Next Phase of Company Reorganization Plan.SAN RAMON San Ramon (Spanish for "Saint Raymond") may refer to one of the following places:
v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. . After carefully examining its engineering and manufacturing activities, Giga-tronics' management has decided to integrate the ASCOR and Instrument Division operations together at the San Ramon, California San Ramon is a city in Contra Costa County, California, United States. It is a part of the San Francisco Bay Area. Since 1980, the population of San Ramon has increased by over 128% from 22,356 to 51,027 in 2005. , facility, along with the new product development work currently underway at the Microsource subsidiary in Santa Rosa, California Santa Rosa is the county seat of Sonoma County, California, USA. As of January 1 2007, the population of Santa Rosa was approximately 157,985 residents. Santa Rosa is the largest city in California's Wine Country and fifth largest city in the San Francisco Bay Area, after San . Microsource, Incorporated will remain strictly a manufacturing operation. John R. Regazzi, President and Chief Executive Officer, said, "The reorganization will produce a stronger company and free up capital to speed up new product development and expand our sales and marketing activities." Mr. Regazzi added, "This change will improve our focus and represents a major step for the Company that is consistent with our strategic plan." This phase of the restructuring is expected to be completed by the end of the Company's fiscal year in March of 2007. Giga-tronics produces instruments, subsystems and sophisticated microwave components that have broad applications in both defense electronics and wireless telecommunications. Headquartered in San Ramon, California, Giga-tronics Incorporated is a publicly held company, traded over the counter on NASDAQ Capital Market Originally called the NASDAQ Small Cap Market, NASDAQ announced a name change to the NASDAQ Capital Market on September 27, 2005. [1] The NASDAQ Capital Market exists for securities of smaller, less-capitalized companies (small caps) that do not qualify for under the symbol "GIGA". This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. concerning profitability, working capital, new product development and marketing activities. Actual results may differ significantly due to risks and uncertainties, such as the effectiveness of the Company's reorganization plans and whether sufficient capital is made available from the reorganization. Other factors may also affect future results. For further discussion, see Giga-tronics' annual report on Form 10-KSB for the fiscal year ended March 25, 2006 Part I, under the heading "Certain Factors Which May Adversely Affect Future Operations or an Investment in Giga-tronics" and Part II, under the heading "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Conditions and Results of Operations". |
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