SigmaTron International sees earnings decline at the end of fiscal year
SigmaTron International, an electronic manufacturing services (EMS) company with operations in three Mexican cities saw revenues decrease to US$ 252.2 million in the fiscal year ending April 30, 2017. Net income decreased to US$ 1.39 million in fiscal year 2017 compared to US$ 2.08 million in fiscal year 2016.
For the fourth quarter of fiscal year 2017, revenues increased to US$ 65.6 million compared to US$ 60.8 million for the same quarter in the prior fiscal year.
Commenting on SigmaTron’s results, Gary R. Fairhead, President, Chief Executive Officer and Chairman of the Board, said “I’m pleased to report that SigmaTron had an excellent fourth quarter of fiscal 2017 and closed the year on a positive note. Although several one-time events as well as year-end adjustments contributed to the fourth quarter results, the base business was solid and revenues started what we believe is an upward trend during the quarter”.
“We believe that the election results have generated a more positive attitude regarding the economy for calendar 2017 and at this time we expect this trend to continue. The optimistic economic outlook, however, has created some additional challenges as we are seeing some shortages in the component marketplace that could affect our ability to meet our customers’ backlog. In all cases, each effected customer is working with us to address the issue with the supplier of the component,” Fairhead added.
Headquartered in Elk Grove Village, IL, SigmaTron International, Inc. is an electronic manufacturing services company that provides printed circuit board assemblies and completely assembled electronic products. The company owns production facilities in the cities of Tijuana, Chihuahua and Acuna.