Giga-tronics Incorporated Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note 16 - Commitments and Contingencies

Note 16 - Commitments and Contingencies

12 Months Ended

Mar. 26, 2016

Commitments and Contingencies Disclosure [Text Block]

16	Commitments and Contingencies

The Company leases a 47,300 square foot facility located in San Ramon, California that expires in December 31, 2016. All of the Company’s operations are in the San Ramon facility as of March 26, 2016.

The Company also leases certain other equipment under operating leases.

Total future minimum lease payments under these leases are as follows. Fiscal year (Dollars in thousands)

Fiscal year (Dollars in thousands)
2017		529
2018		6
2019		6
2020		6
Thereafter		6
Total	$	553

The aggregate rental expense was $677,000 and $654,000 in fiscal 2016 and 2015, respectively.

The Company leases certain equipment under capital leases that expire through May 2021. Capital leases with costs totaling

$249,000 and $319,000 are reported net of accumulated depreciation of $32,000 and $60,000 at March 26, 2016 and March 28, 2015, respectively.

Total future minimum lease payments under these capital leases are as follows.

Fiscal year (Dollars in thousands)	Principal		Interest		Total
2017	$	44	$	25	$	69
2018		50		19		69
2019		52		12		64
2020		40		5		45
2021		23		1		24
Total	$	209	$	62	$	271

The Company is committed to purchase certain inventory under non-cancelable purchase orders. As of March 26, 2016, total non–cancelable purchase orders were approximately $2.3 million and are scheduled to be delivered to the Company at various dates through March 2017.