NEW YORK (TheStreet) -- Shares of Giga-tronics (GIGA) were gaining 24.4% to $2.65 in after-hours trading on Monday after the technical instruments company reported its results for the fiscal fourth quarter.
Giga-tronics reported earnings of 3 cents a share for the fourth quarter, up from a loss of 23 cents a share in the year-ago quarter. The company reported revenue of $4.3 million for the quarter, up 48% from $2.9 million in the year-ago quarter.
Analyst estimates were not available for the company.
"We achieved an important milestone in the fourth quarter of fiscal 2015 when after years in development, two customers accepted their initial units of our Advanced Signal Generation System," CEO JohnRegazzi said in a statement. "With it now in production, the Advanced Signal Generation System should start contributing to the Company's long term success."
TheStreet Ratings team rates GIGA-TRONICS INC as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:
"We rate GIGA-TRONICS INC (GIGA) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk and weak operating cash flow."
You can view the full analysis from the report here: GIGA Ratings Report