SigmaTron Reports Q3 Revenue Up 13% YoY
ELK GROVE VILLAGE, IL – EMS firm SigmaTron International reported third-quarter fiscal 2010 revenues of $30.6 million, up 13% year-over-year.
Net income was $415,468 compared to a loss of $265,458 for the same period last year.
For the nine months ended Jan. 31, revenues were $87.5 million, down 18% year-over-year. Net income was $530,291 compared to a profit of $1.8 million for the same period in the prior year.
“Our quarterly results were negatively impacted by expenses related to our changing banks during the quarter, but otherwise operationally consistent with our second-quarter results. Just like the second quarter, each month during the third quarter was profitable,” said president and CEO Gary R. Fairhead.
"Heading into our fourth quarter, we see many customers adjusting inventory levels short term. My expectation is that revenue will be lower than that of the third quarter. However, I also believe that the second half of calendar 2010 will be stronger than the same period of 2009,” Fairhead added.
