SigmaTron reports increases in fiscal 1Q revenues, earnings

ELK GROVE VILLAGE - SigmaTron International reported revenues and earnings for the first quarter of fiscal 2016 increased as demand outweighed a volatile economy for the electronic manufacturing services company.

Revenues for the quarter increased to $64.2 million, compared to $54.9 million for the same quarter in the prior year, the company reported. Net income of $658,806 for the quarter was up from $16,810 for the same period in the prior year. Basic and diluted earnings per share were each 16 cents.

"We anticipated that new programs with existing and new customers would be launching during the quarter and we benefited from that," said Gary R. Fairhead, SigmaTron president, CEO and chairman of the board. "We also saw some nominal growth on our existing base of business, all of which resulted in the positive results for the first quarter.

"Equally important, that trend continues into the second quarter," he added. "Additional programs will be launching and several of the programs that have been launched are still continuing to ramp.

"Should the economy remain steady, which is always a concern these days, we would expect to see sequential growth from the first quarter to the second quarter in terms of revenue. We also continue to pursue new opportunities that we remain hopeful we will be able to land and help continue our growth in markets that we are targeting," Fairhead said..

Fairchild noted that while the outlook is positive, the economy remains volatile and the company will "remain cautious about the possibility of short-term slowdowns, and will manage accordingly."