Gresham Worldwide Subsidiary Microphase Corporation Announces $5.4 Million Contract Award

Giga-tronics, Inc. dba Gresham Worldwide (OTCQB: GIGA) (“Gresham Worldwide”), a provider of purpose-built electronic technology solutions for defense and other mission critical applications, today announced its subsidiary, Microphase Corporation (“Microphase”), has received orders for RF filters from a major strategic defense contractor with an aggregate value of $5.4 million. Microphase technology will be used as part of a platform designed to counter improvised explosive devices to protect troops in the U.S. military.

Microphase anticipates initial deliveries to begin in the first quarter of 2024 with the balance delivered throughout calendar year 2024. This production order builds on eight years of close collaboration with this strategic customer to develop and refine these RF components. Microphase expects to receive at least one additional production order for the RF filters late in 2024.

Jonathan Read, CEO of Gresham Worldwide, Microphase’s parent, stated, “These orders provide further validation of Gresham Worldwide’s strategic focus on delivering purpose-built solutions for mission critical requirements that build enduring customer relationships. Wars in the Middle East and Ukraine with tensions high in the South China Sea and multiple low-intensity conflicts elsewhere will continue to drive demand for Gresham Worldwide’s defense and force protection offerings for the foreseeable future.”

Timothy Long, COO of Gresham Worldwide and CEO of Microphase, added, “We are well-positioned with the workforce, equipment, and facilities to satisfy these orders on schedule. This business builds on our proven RF filter technology platform. We expect these orders and others like them will have a positive impact on Microphase’s backlog, revenue, and profitability going forward.”

About Microphase Corporation, a Gresham Worldwide Company

Microphase Corporation designs, engineers and manufacturers RF, microwave and millimeter wave devices, components and subsystems known for high performance and ultra-high reliability for mission critical applications in the defense industry. Microphase serves militaries and top tier defense contractors who support them with platforms in the air, on land and at sea around the world.

About Gresham Worldwide

Gresham Worldwide works through its operating companies in the United States, the United Kingdom and Israel to deliver purpose-built electronic technology solutions that save, protect, and enhance life. Gresham Worldwide focuses on providing turnkey electronic solutions for defense, test and training applications, power electronics and displays, and radio frequency, microwave and n\millimeter wave systems and components. Gresham Worldwide primarily supports the defense and aerospace industry as well as mission-critical applications in medical technology, transportation, telecommunications, and industrial market sectors. www.greshamworldwide.com.