MANHASSET, N.Y. Microwave components supplier Gigatronics Inc. reported a net loss of $1.0 million, or 21 cents per fully diluted share for the first fiscal 2007 quarter ending June 24, 2006. This compares with a net profit of $0.2 million, or 4 cents per share in the year-ago quarter.
Net sales decreased 42 percent to $3.4 million from $5.8 million a year ago.
Giagatronics (San Ramon, Calif.) said orders decreased 47 percent year to year, with a book-to-bill ratio of 0.87, as opposed to 0.95 a year ago.
John Regazzi, chief executive of Gigatronics, said in a statement, "In an effort to improve results and make optimal use of our resources, management intends to take additional steps to restructure the company. We will continue to consolidate operations and functions among our divisions as we have done with sales and marketing."