Ault Alliance (AULT) announced that its majority-owned subsidiary, Giga-tronics (GIGA), referred to as Gresham Worldwide projects over $50 million in annual revenue driven by its defense business in 2024, supported by a robust backlog currently at approximately $50 million. This revenue projection is attributed to escalating global conflicts, with a notable surge in demand coming from Israel and Europe. Gresham Worldwide’s Israeli subsidiary, Enertec Systems 2001, has recently secured a $20 million order to be completed over the next three years.
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