Business

Wagz deal shown in SigmaTron financial results

Posted July 19, 2023 11:00 pm

ELK GROVE VILLAGE - SigmaTron International Inc., an electronic manufacturing services company, Thursday reported revenues and earnings for the fiscal year ended April 30, including losses from the sale of its Wagz subsidiary.

As previously reported, the company sold a majority position of Wagz Inc., a maker of pet GPS collars and other pet technologies, effective April 1. As a result, the company will report results from Wagz for fiscal 2023 and 2022 as discontinued operations.

Revenues from continuing operations increased $36.1 million, or 10%, to $414.4 million for fiscal 2023 compared to $378.3 million for fiscal 2022. Net income from continuing operations for fiscal 2023 was $14.2 million, compared to net income of $18.4 million for fiscal 2022.

For fiscal 2023 and fiscal 2022, net loss from discontinued operations was $34.8 million and $8.5 million, respectively. Net loss per share from discontinued operations for fiscal 2023 and fiscal 2022 was $5.73 and $1.77, respectively.

Basic income per share from continuing operations for fiscal 2023 was $2.34, compared to $3.81 income per share for fiscal 2022.

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