Gresham Worldwide Marks a 52% Increase in
Quarter-Over-Quarter Boost
End of Quarter Backlog of Rises to $33.7
Million, a 21% Increase Sequentially
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding
company ("Ault Alliance," or the "Company"), today
announced that its majority owned subsidiary, Giga-tronics, Inc.,
(OTCQB: GIGA), referred to as Gresham Worldwide, which concentrates
in delivering high-performance, tailored electronic solutions for
mission-critical applications across the defense, healthcare,
telecommunications, and transportation sectors, announces its Q3
2023 orders have eclipsed $15.4 million. This figure represents a
significant 52% increase from the preceding quarter. Gresham
Worldwide ends the quarter with a backlog rising to $33.7 million,
a 21 % increase.
Gresham Worldwide's success this quarter can be attributed to a
surge in orders spanning its diverse operating sectors,
complemented by winning contracts in areas like missile defense,
medical devices, and electronic countermeasures systems.
Spotlight on Orders:
RF Solutions: Achieving $8.3 million in Q3 orders, this unit has
thrived through close collaboration with global partners. Tailored
RF solutions, especially in electronic countermeasures and defense,
have positioned Gresham Worldwide as an impactful force, outpacing
competitors in delivering RF, microwave, and millimeter wave
solutions.
Precision Electronic Solutions: Securing over $5.2 million in Q3
orders, this segment has seen a surge due to its focus on
electronic force protection and missile defense systems. Gresham
Worldwide anticipates sustained growth in this sector through
2024.
Power Electronics & Displays: Q3 orders exceeded $2.0
million, driven by commercial demand for ruggedized power
electronics and display solutions. Consistent growth is projected
through 2024.
Jonathan Read, CEO of Gresham Worldwide, commented, "The global
landscape continues to evolve, fueling spending on defense and
electronic testing technologies across the US, UK, Europe, Asia and
the Middle East. Our commitment to collaboration and nurturing
customer relationships positions Gresham Worldwide for sustained
growth. We anticipate a buoyant demand for our precision electronic
solutions through 2024."
For more information on Ault Alliance and its subsidiaries, Ault
Alliance recommends that stockholders, investors, and any other
interested parties read Ault Alliance’s public filings and press
releases available under the Investor Relations section at
www.Ault.com or at www.sec.gov/.
About Ault Alliance, Inc.
Ault Alliance, Inc. is a diversified holding company pursuing
growth by acquiring undervalued businesses and disruptive
technologies with a global impact. Through its wholly and
majority-owned subsidiaries and strategic investments, Ault
Alliance owns and operates a data center at which it mines Bitcoin
and offers colocation and hosting services for the emerging
artificial intelligence ecosystems and other industries, and
provides mission-critical products that support a diverse range of
industries, including metaverse platform, oil exploration, crane
services, defense/aerospace, industrial, automotive,
medical/biopharma, consumer electronics, hotel operations and
textiles. In addition, Ault Alliance extends credit to select
entrepreneurial businesses through a licensed lending subsidiary.
Ault Alliance’s headquarters are located at 11411 Southern
Highlands Parkway, Suite 240, Las Vegas, NV 89141;
www.ault.com/.
About Gresham Worldwide
Gresham Worldwide operates across the US, UK, and Israel,
championing technology solutions that enhance and protect lives.
Specializing in Defense, Test & Training, Power Electronics,
Displays, and RF Systems, the company predominantly supports the
Defense & Aerospace sector, while also catering to critical
applications in Medical Technology, Transportation, and
Telecommunications. Visit Gresham Worldwide at
www.greshamworldwide.com
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements generally include
statements that are predictive in nature and depend upon or refer
to future events or conditions, and include words such as
“believes,” “plans,” “anticipates,” “projects,” “estimates,”
“expects,” “intends,” “strategy,” “future,” “opportunity,” “may,”
“will,” “should,” “could,” “potential,” or similar expressions.
Statements that are not historical facts are forward-looking
statements. Forward-looking statements are based on current beliefs
and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are
made, and the Company undertakes no obligation to update any of
them publicly in light of new information or future events. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in the
Company’s filings with the U.S. Securities and Exchange Commission,
including, but not limited to, the Company’s Forms 10-K, 10-Q and
8- K. All filings are available at www.sec.gov and on the Company’s
website at www.ault.com/.
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Ault Alliance Investor Contact: IR@Ault.com or
1-888-753-2235
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