SigmaTron reports rebound in revenue, profit

ELK GROVE VILLAGE - SigmaTron International Inc., an electronic manufacturing services company, Wednesday reported its revenues increased to $71.5 million for the fiscal year third quarter, up from $67.4 million for the same quarter in 2020. Net income for the quarter was $249,268 compared to a net loss of $217,039 for the same period last year, the company said.

The company's third quarter ended Jan. 31.

For the nine months ended Jan. 31, revenues decreased to $201.7 million compared to $216.3 million for the same period in the prior year. Net loss for the nine-month period was $24,540 compared to net income of $805,169 last fiscal year.

"SigmaTron's third quarter was both an interesting and successful quarter," said Gary R. Fairhead, president, CEO and chairman of the board. "As previously announced, SigmaTron changed its primary lender from U.S. Bank to J.P. Morgan Chase on Jan. 29, 2021. We are excited about the new relationship and believe that it will better position us for the opportunities we see in front of us, both with our electronic manufacturing services core business and our anticipated acquisition of Wagz."

Fairhead said SigmaTron continues to make progress on its proposed acquisition of Wagz Inc., maker of a "smart" dog collar with GPS capability.