SigmaTron Reports Q2 Revenues Up 16% Sequentially
ELK GROVE VILLAGE, IL – EMS firm SigmaTron International reported fiscal second-quarter revenues decreased 25.5% year-over-year to $30.6 million. Sales were up 16.3% from the previous quarter.
Net income fell to $517,298, down 66% compared to the same quarter in the prior year. The company swung to a profit after losing $402,000 in the fiscal first quarter.
For the six months ended Oct. 31, revenues were $56.9 million, down 29% compared to the same period in 2008.
Net income for the period was $114,823, down nearly 95% compared to the same six months last year.
“It is clear how dramatically the general economy has negatively affected our company. However, we were profitable for each month of the second quarter, and assuming that the economy has stabilized, we have successfully downsized the company,” says Gary R. Fairhead, president and CEO of SigmaTron.
