On Tuesday, Shares of Giga-tronics Inc. (NASDAQ:GIGA), gained 28.64% to $2.74.
Giga-tronics Incorporated, declared that it has finalized a $10.0 million multi-year production order of high performance YIG filters for a major aerospace company. The Company anticipates to start shipments for this order in August 2016, and continue shipments through early 2019. On June 2, 2014 the Company declared the associated $6.5 million nonrecurring engineering (NRE) order for the development of this variant of its high performance fast tuning YIG filters. The associated NRE development work has been ongoing since the June 2, 2014 declarement, and is near completion.
John Regazzi, President and CEO of Giga-tronics, said “The initial $6.5 million NRE development project was a great success. Our customer is very happy with the results to date, and the NRE work greatly contributed to our improved financial results in fiscal 2015. Steven Lance, CFO of Giga-tronics, also commented “We are excited to have the $10.0 million production order finalized, and look forward to delivering the initial production units next year.”
Giga-tronics Incorporated, together with its auxiliaries, designs, manufactures, and markets a range of test and measurement equipment used in the development, testing, and maintenance of wireless communications products and systems, flight navigational equipment, electronic defense systems, and automatic testing systems. The company operates in two segments, Giga-tronics Division and Microsource.
Shares of Autodesk, Inc. (NASDAQ:ADSK), declined -1.51% to $57.52, during its last trading session.
Autodesk, stated financial results for the first quarter of fiscal 2016.
First Quarter Fiscal 2016
- Total billings raised 3 percent, contrast to the first quarter last year as stated, and 8 percent on a constant currency basis.
- Deferred revenue raised 20 percent to $1.15 billion, contrast to $964 million in the first quarter last year.
- Total subscriptions raised by about 95,000 from the fourth quarter of fiscal 2015.
- Revenue was $647 million, an enhance of 9 percent contrast to the first quarter last year as stated, and 13 percent on a constant currency basis.
- GAAP operating margin was 3 percent, contrast to 7 percent in the first quarter last year.
- Non-GAAP operating margin was 15 percent, contrast to 17 percent in the first quarter last year. A reconciliation of GAAP to non-GAAP results is offered in the accompanying tables.
- GAAP diluted earnings per share were $0.08, contrast to $0.12 in the first quarter last year.
- Non-GAAP diluted earnings per share were $0.30, contrast to $0.32 in the first quarter last year.
- Cash flow from operating activities was $87 million, contrast to $219 million in the first quarter last year.
Autodesk, Inc. operates as a design software and services company worldwide. The company’s Architecture, Engineering and Construction segment offers Autodesk Building Design Suites to manage various phases of design and construction; Autodesk Revit products that provide model-based design and documentation systems; Autodesk Infrastructure Design Suites; AutoCAD Civil 3D products that offer a surveying, design, analysis, and documentation solution; and AutoCAD Map 3D software, which offers direct access to data needed for infrastructure planning, design, and administration.
At the end of Tuesday’s trade, Shares of United Technologies Corporation (NYSE:UTX), gained 0.47% to $119.07.
UTC Aerospace Systems has its latest designs for business jet aircraft interiors on display at this year’s European Business Aviation Convention and Exhibition (EBACE). The 15th Annual EBACE takes place May 19 – 21 at the Palexpo in Geneva, Switzerland. UTC Aerospace Systems is part of United Technologies Corp. (UTX)
UTC Aerospace Systems (Hall 6, Booth T099) is exhibiting its business jet cabin interior products; in-flight entertainment (IFE) and cabin administration systems (CMS); WINSLOW business jet life rafts; interior and exterior aircraft lighting products; custom-crafted artisan wood veneers; and integrated cabin attendant seats. UTC Aerospace Systems is also showcasing a new design in executive business jet seats that combines full power and electrical assist as an improvement to manual seats formerly installed on many aircraft.
United Technologies Corporation provides technology products and services to building systems and aerospace industries worldwide. Its Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways; modernization products to upgrade elevators and escalators; and maintenance and repair services.
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