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SigmaTron International, Inc. has reported revenues and earnings for the second quarter ended October 31, 2017.
Revenues increased to $73.0 million for the second quarter of fiscal 2018 from $66.2 million for the same quarter in the prior year. Net income increased to $736,115 in the second fiscal quarter compared to $33,295 for the same period in the prior year. Basic and diluted earnings per share were $0.18 and $0.17, respectively, for the quarter ended October 31, 2017 compared to basic and diluted earnings per share each of $0.01 for the same quarter in fiscal 2017.
For the six months ended October 31, 2017, revenues increased to $144.2 million compared to $125.3 million for the same period ended October 31, 2016. Net income for the period ended October 31, 2017 was $1,118,997 compared to $179,892 for the same period in the prior year. Basic and diluted earnings per share for the six months ended October 31, 2017, were $0.27 and $0.26, respectively, compared to basic and diluted earnings per share of each $0.04 for the six months ended October 31, 2016.
Commenting on SigmaTron’s second quarter, fiscal 2018 results, Gary R. Fairhead, President, Chief Executive Officer and Chairman of the Board, said, “I’m pleased to report that SigmaTron had a good quarter in terms of both revenue growth and bottom line growth. Revenues increased modestly, but net income increased significantly from the first quarter of fiscal 2018. As reported in previous press releases we continue to encounter shortages in the component marketplace, primarily with semiconductor products. These shortages negatively affected our revenue in the second quarter and at this point it appears that shortages will continue during the third quarter. Shortages have not only negatively impacted our ability to assemble and ship finished goods, but in some cases there were price increases which required customer approval and slowed down production.
“The component shortages are a direct result of the stronger economic activity we have seen for the past 12 months. We continue to see positive signs that the economy will continue to grow and opportunities for SigmaTron should increase. We are heading into what has historically been a slower quarter, driven by the calendar year end, holidays, and customers adjusting inventory for their fiscal year end. While the third quarter may reflect some slowing short term, we have landed several new significant customers and their business is projected to start during our fourth quarter. Several of these programs are quite exciting and we are looking forward to expanding our customer base while establishing long term relationships that should provide for future growth. In summary, we continue to see positive trends going forward and are optimistic for the balance of this fiscal year.”
About SigmaTron International, Inc.
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.