SAN RAMON, Calif., March 29, 2011 (GLOBE NEWSWIRE) -- Microsource, Inc., a Giga-tronics Company (Nasdaq:GIGA), today announced that it has received a 2010 Boeing Performance Excellence Award. The Boeing Company issues the award annually to recognize suppliers who have achieved superior performance.
Microsource maintained a composite Gold performance rating for each month of the 12-month performance period, from Oct. 1, 2009, to Sept. 30, 2010. This year, Boeing recognized 558 suppliers that achieved either a Gold or Silver level Boeing Performance Excellence Award. Microsource is one of only 141 suppliers to receive the Gold-level recognition.
John Regazzi, CEO of Giga-tronics, stated, "We are honored to have earned the Gold Supplier status from Boeing for our part in supporting the F/A-18 and F-15 aircraft. Our Microsource division personnel have worked to assure the unique synthesized YIG tuned filters we deliver are of the highest quality and reliability for these important programs."Microsource, Inc., a wholly-owned subsidiary of Giga-tronics Incorporated, has been supplying YIG-based oscillators, filters and synthesizers to numerous aerospace, defense and commercial applications for 30 years. Giga-tronics is a publicly held company, traded on the NASDAQ Capital Market under the symbol "GIGA". Giga-tronics produces instruments, subsystems and sophisticated microwave components that have broad applications in defense electronics, aeronautics and wireless telecommunications. The Giga-tronics Incorporated logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6087 This press release contains forward-looking statements concerning profitability, backlog and shipments. Actual results may differ significantly due to risks and uncertainties, such as future orders, cancellations or deferrals, disputes over performance, the ability to collect receivables and general market conditions. For further discussion, see Giga-tronics' most recent annual report on Form 10-K for the fiscal year ended March 27, 2010, 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 of Financial Condition and Results of Operations".
CONTACT: Pat Lawlor Vice President, Finance/Chief Financial Officer (925) 328-4656