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SigmaTron International, Inc., an electronic manufacturing services company, today reported revenues and earnings for the fiscal year ended April 30, 2015. Revenues increased to $230.2 million in fiscal year 2015 from $222.5 million in the prior fiscal year. Net income decreased to $903,412 in fiscal year 2015 compared to $2,918,691 in fiscal year 2014. Basic and diluted earnings per share for the fiscal year ended April 30, 2015 were each $0.22 compared to $0.74 and $0.72, respectively in fiscal year 2014.
For the fourth quarter of fiscal year 2015, revenues increased to $60 million compared to $55.6 million for the same quarter in the prior fiscal year. Basic and diluted earnings per share for the fiscal year 2015 fourth quarter were each $0.04 compared to basic and diluted earnings per share of $0.11 and $0.10, respectively for the same period of fiscal year 2014.
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 was profitable during the fourth quarter of fiscal year 2015, as well as for the entire fiscal year. The profits for the fourth quarter and the year were both disappointing in comparison to the same periods in the prior fiscal year. The results reflect the choppy economy we are dealing with both in the United States and globally. As previously reported, the first quarter Gross Domestic Product (GDP) for the United States actually contracted, which we believe caused our customers to adjust their orders and requirements which negatively impacted our results.
"We saw modest revenue increases for fiscal year 2015 and for the fourth quarter when comparing to equivalent periods of fiscal year 2014. The rescheduling of orders negatively impacted what we thought would be a much stronger quarter ending the fiscal year.
"On a positive note, new programs launched during the fourth quarter. The new programs are with existing customers that we have long-term relationships with and new customers that we are excited to be partnering with. We have also seen gains in markets that we have been actively pursuing. Hence, we are optimistic heading into fiscal year 2016 that much of our hard work during the past two fiscal years will begin to pay off in terms of increased revenues and income.
"With that said, margin pressures continue from both vendors and customers. However, we feel that we have done a good job of addressing those pressures from a manufacturing and supply chain perspective.
"Once again, at fiscal year-end, I take this opportunity to thank our customers, supply chain, our bank, Wells Fargo Bank N.A., our Board of Directors and, most importantly, our excellent SigmaTron team, that contributed to making fiscal 2015 a profitable and successful year."
About SigmaTron International, Inc.
Headquartered in Elk Grove Village, IL, 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.