SAN RAMON, Calif., June 2, 2011 (GLOBE NEWSWIRE) -- Microsource, Inc., a Giga-tronics Company (Nasdaq:GIGA), today announced that it has been recognized as Supplier of the Year in the Avionics category by The Boeing Company. Giga-tronics' Microsource was one of the 16 companies honored May 18, 2011 for distinguished performance in working with Boeing.
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In January, Microsource, Inc. was notified that it was one of the 558 companies to receive the Boeing Performance Excellence Award which rewards performance excellence. Achieving the Supplier of the Year designation further acknowledges superior performance and labels this class of winners as best of the best.
"The Boeing supplier network is a global community of the best companies who help us build the world's best aircraft, satellite and security systems," said Stan Deal, vice president and general manager of Supplier Management for Boeing Commercial Airplanes. "To be one of just 16 selected for a Boeing Supplier of the Year award says a great deal about Giga-tronics' commitment to consistently achieve high standards of quality, productivity and efficiency in support of our customers."
This year's winners represent an elite group among more than 17,525 active Boeing suppliers in nearly 52 countries around the world. This selection was based on stringent performance criteria for quality, delivery performance, cost, environmental initiatives, customer service and technical expertise.
John Regazzi, CEO of Giga-tronics, stated, "We are honored to have earned the Supplier of the Year 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."
For more information on the Boeing Supplier of the Year award, including a complete list of award recipients, visit http://boeing.mediaroom.com/index.php?s=43.
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 26, 2011, 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