Quarterly report pursuant to Section 13 or 15(d)

Note 8 - Significant Customer and Industry Segment Information

v2.4.1.9
Note 8 - Significant Customer and Industry Segment Information
9 Months Ended
Dec. 27, 2014
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]

8)     Significant Customer and Industry Segment Information


The Company has two reportable segments: Giga-tronics Division and Microsource.


Giga-tronics Division produces a broad line of test and measurement equipment used in the development, test and maintenance of wireless communications products and systems, flight navigational equipment, electronic defense systems and automatic testing systems and designs, manufactures, and markets a line of switching devices that link together many specific purpose instruments that comprise automatic test systems. These products are used primarily in the design, production, repair and maintenance of commercial telecommunications, radar, and electronic warfare equipment. Microsource develops and manufactures a broad line of YIG (Yttrium, Iron, Garnet) tuned oscillators, filters and microwave synthesizers, which are used by its customers in operational applications and in manufacturing a wide variety of microwave instruments and devices.


The tables below present information for the three and nine month periods ended December 27, 2014 and December 28, 2013.


           

Three Month Periods Ended

           

Three Month Periods Ended

 

(In thousands)

 

At Dec. 27, 2014

      December 27, 2014       At Dec. 28, 2013        December 28, 2013    
                   

Net Income

                   

Net Income

 
   

Total Assets

   

Net Sales

   

(Loss)

   

Total Assets

   

Net Sales

   

(Loss)

 

Giga-tronics Division

  $ 5,431     $ 2,021     $ (1,266 )   $ 5,341     $ 1,539     $ (1,209 )

Microsource

    2,876       2488       1,333       1,821       1,878       491  

Total

  $ 8,307     $ 4,509     $ 67     $ 7,162     $ 3,417     $ (718 )

           

Nine Month Periods Ended

           

Nine Month Periods Ended

 

(In thousands)

 

At Dec. 27, 2014

      December 27, 2014       At Dec. 28, 2013        December 28, 2013    
                   

Net Income

                   

Net Income

 
   

Total Assets

   

Net Sales

   

(Loss)

   

Assets

   

Net Sales

   

(Loss)

 

Giga-tronics Division

  $ 5,431     $ 6,638     $ (3,962 )   $ 5,341     $ 5,336     $ (2,961 )

Microsource

    2,876       7,489       3,679       1,821       5,068       485  

Total

  $ 8,307     $ 14,127     $ (283 )   $ 7,162     $ 10,404     $ (2,476 )

During the third quarter of fiscal 2015, one customer accounted for 36% of the Company’s consolidated revenues and was included in the Microsource segment. A second customer accounted for 16% of the Company’s consolidated revenue for the three months ended December 27, 2014 and was primarily included in the Microsource segment. A third customer accounted for 15% of the Company’s consolidated revenue for the three months ended December 27, 2014 and was primarily included in the Giga-tronics Division. During the third quarter of fiscal 2014, one customer accounted for 41% of the Company’s consolidated revenue and was primarily included in the Microsource segment. A second customer accounted for 20% and was included in the Giga-tronics Division.


During the first nine months of fiscal 2015, one customer accounted for 32% of the Company’s consolidated revenues and was primarily included in the Microsource segment. A second customer accounted for 19% of the Company’s consolidated revenue for the nine months ended December 27, 2014 and was included in the Giga-tronics Division. A third customer accounted for 18% of the Company’s consolidated revenue for the nine months ended December 27, 2014 and was primarily included in the Microsource segment. One customer accounted for 43% of the Company’s consolidated revenues for the nine months ended December 28, 2013 and was primarily included in the Microsource segment. A second customer accounted for 14% of the Company’s consolidated revenues for the nine months ended December 28, 2013 and was included in the Giga-tronics Division.