-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueBox Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
Boost Your Sales
Every part of your business can be evaluated as a process, including your sales funnel. Optimizing your selling process requires a coordinated effort between marketing and sales. In this issue, industry experts in marketing and sales offer their best advice on how to boost your sales efforts.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
SigmaTron International Posts FY2017 Revenues of $252M
August 4, 2017 | GlobeNewswireEstimated reading time: 2 minutes
EMS firm SigmaTron International Inc. has reported revenues and earnings for the fiscal year ended April 30, 2017. Revenues decreased to $252.2 million in fiscal year 2017 from $253.9 million in the prior fiscal year. Net income decreased to $1,390,206 in fiscal year 2017 compared to $2,082,659 in fiscal year 2016. Basic and diluted earnings per share for the fiscal year ended April 30, 2017 were each $0.33 compared to $0.50 and $0.49 each in fiscal year 2016.
For the fourth quarter of fiscal year 2017, revenues increased to $65.6 million compared to $60.8 million for the same quarter in the prior fiscal year. Basic and diluted earnings per share for the fiscal year 2017 fourth quarter were each $0.30 compared to basic and diluted earnings per share of $0.01 each for the same period of fiscal year 2016.
Commenting on SigmaTron's results, Gary R. Fairhead, President, Chief Executive Officer and Chairman of the Board, said, "I'm pleased to report that SigmaTron had an excellent fourth quarter of fiscal 2017 and closed the year on a positive note. Although several one-time events as well as year-end adjustments contributed to the fourth quarter results, the base business was solid and revenues started what we believe is an upward trend during the quarter.
"We believe that the election results have generated a more positive attitude regarding the economy for calendar 2017 and at this time we expect this trend to continue. There has been some short-term volatility with our customers compared to their scheduled orders three months ago, but we do expect some additional new customers to come on board later this year. Margin pressures continue but we believe the additional revenue will assist us in managing those pressures. The optimistic economic outlook, however, has created some additional challenges as we are seeing some shortages in the component marketplace that could affect our ability to meet our customers' backlog. In all cases, each effected customer is working with us to address the issue with the supplier of the component.
"Also during the fourth quarter, I am pleased to report that SigmaTron changed its primary banking relationship to US Bank N.A. Our new agreement provides access to significant additional working capital while lowering our overall borrowing costs. We believe this will help position us for the growth we see ahead and look forward to working with US Bank N.A.
"As always, I want to take this opportunity to thank our customers, supply chain, our new bank, US Bank N.A., our Board of Directors, and our greatest asset, our employees, that made fiscal 2017 profitable and provided momentum going forward."
About SigmaTron International
Headquartered in Elk Grove Village, Illinois, SigmaTron International Inc. is an electronic manufacturing services company that provides printed circuit board assemblies and completely assembled electronic products. SigmaTron International Inc. operates manufacturing facilities in Elk Grove Village, Illinois; Acuna, Chihuahua, and Tijuana Mexico; Union City, California; Suzhou, China, and Ho Chi Minh City, Vietnam. SigmaTron International Inc. maintains engineering and materials sourcing offices in Elgin, Illinois and Taipei, Taiwan.
Suggested Items
KYZEN Announces Exclusive Partnership with Manufacturers’ Representative Restronics Florida
04/25/2024 | KYZEN'KYZEN, the global leader in innovative environmentally responsible cleaning chemistries, proudly announces its strategic partnership with Manufacturers’ Representative Restronics Florida. Just like KYZEN’s commitment to continuously improving precision cleaning, Restronics Florida serves as a consultative OEM sales representative organization dedicated to educating customers to enhance their processes and productivity.
Determining the Value-add of Box Build
04/24/2024 | Nolan Johnson, I-Connect007At a strategic level, adding box-building services makes sense for customer loyalty. But is it really that simple? Jon Schmitz, who manages customer engagement at RiverSide Integrated Solutions, talk about about what it really takes to be successful in offering EMS and final assembly services under the same company banner.
Fujitsu, METRON Collaborate to Drive ESG Success
04/24/2024 | JCN NewswireFujitsu Limited and METRON SAS, a French cleantech company specializing in energy management solutions for industrial decarbonization, today announced a strategic initiative to contribute to the realization of carbon neutrality in the manufacturing industry.
Adura Solutions Exhibits at Del Mar 2024
04/24/2024 | Adura SolutionsSumit Tomar, CEO of Adura Solutions, has announced that his company will be exhibiting at this year’s Del Mar Electronics and Manufacturing Show to be held at the Del Mar Fairgrounds, San Diego, California, April 24-25.
US Department of Defense Selects Intel Foundry for Phase Three of RAMP-C
04/23/2024 | IntelThe U.S. Department of Defense (DoD) has awarded Intel Foundry Phase Three of its Rapid Assured Microelectronics Prototypes - Commercial (RAMP-C) program.