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Sigmatron International Inc - SGMA STOCK NEWS

Welcome to our dedicated page for Sigmatron International news (Ticker: SGMA), a resource for investors and traders seeking the latest updates and insights on Sigmatron International stock.

Sigmatron International Inc (NASDAQ: SGMA), established in 1994, is a premier independent provider of electronic manufacturing services (EMS). The company offers a wide array of services, including printed circuit board assemblies, completely assembled electronic products, both automatic and manual assembly and testing of products, material sourcing and procurement, and manufacturing and test engineering support. Additional services include warehousing and distribution, catering to various industries such as industrial electronics, consumer electronics, and medical sciences.

Headquartered in Elk Grove Village, Illinois, Sigmatron International operates manufacturing facilities across the globe, including in the United States, Mexico, China, and Vietnam. This extensive network enables the company to offer both nearshore and offshore manufacturing solutions.

Sigmatron's strategic International Purchasing Office (IPO) in Taiwan, along with skilled procurement professionals at each facility, ensures a highly competitive materials management strategy. The company's diverse market focus spans appliance, consumer electronics, gaming, fitness, industrial electronics, medical/life sciences, semiconductor, telecommunications, and automotive sectors.

The company's quality standards are certified to ISO 9001:2008, ISO 13485:2003, and AS9100C, and it is registered under the International Traffic in Arms Regulations (ITAR). This underscores their commitment to maintaining the highest quality and compliance standards.

In recent news, Sigmatron reported an increase in revenues from continuing operations for the fiscal year ending April 30, 2023, up by 10% to $414.4 million compared to the previous year. However, net income from continuing operations saw a decrease to $14.2 million from $18.4 million in the prior year. The company sold a majority stake in its wholly-owned subsidiary, Wagz, Inc., effective April 1, 2023, resulting in a significant impact on financial results due to discontinued operations.

Looking into fiscal 2024, Sigmatron faces mixed signals from the market with uncertainties in customer requirements and economic conditions. Despite these challenges, the company remains optimistic, focusing on reducing inventory and leveraging its global manufacturing footprint to meet customer demands.

With a focus on long-term growth, Sigmatron continues to serve its customers by providing customized and scalable manufacturing solutions, ensuring high-quality delivery, and maintaining a strong position in the competitive EMS market.

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SigmaTron International (NASDAQ: SGMA) reported its Q1 fiscal 2025 results, showing a 14% decrease in revenues to $84.8 million compared to $98.1 million in the same period last year. The company posted a net loss of $3.3 million, or $0.54 per share, compared to a net income of $0.3 million, or $0.04 per share, in Q1 fiscal 2024. Despite the year-over-year decline, revenues increased 4.4% sequentially from Q4 fiscal 2024. CEO Gary R. Fairhead noted ongoing market softness but expressed optimism for increased activity in Q4 calendar 2024. The company is focusing on reducing inventory and working capital requirements, while continuing efforts to de-lever its balance sheet with Lincoln International.

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SigmaTron International (NASDAQ: SGMA), an electronic manufacturing services company, has regained compliance with Nasdaq Listing Rule 5250(c)(1). The company received notice from Nasdaq on September 10, 2024, confirming its compliance after filing its Form 10-K for the annual period ended April 30, 2024, on September 3, 2024 (amended on September 6, 2024). This development resolves the previous non-compliance issue raised by Nasdaq on August 16, 2024, due to the delay in filing the Form 10-K. The timely resolution of this matter ensures SigmaTron's continued listing on the Nasdaq stock exchange.

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SigmaTron International, Inc. (NASDAQ: SGMA) reported financial results for fiscal 2024. The company experienced a 10% decrease in revenues from continuing operations, dropping to $373.9 million compared to $414.4 million in fiscal 2023. SigmaTron reported a net loss of $2.5 million from continuing operations, a significant decline from the $14.2 million net income in the previous year. The fourth quarter was particularly challenging, with a 25% decrease in revenues and a net loss of $3.4 million. The company attributed these results to an industry-wide slowdown and lingering supply chain issues. Despite the current challenges, SigmaTron's CEO, Gary R. Fairhead, expressed a positive outlook, citing strong backlogs and expectations of rebounding demand.

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SigmaTron International (SGMA) has received a delinquency notification from Nasdaq due to the late filing of its Form 10-K for the fiscal year ended April 30, 2024. The company attributes the delay to ongoing negotiations with lenders regarding credit agreement amendments. While this non-compliance with Nasdaq Listing Rule 5250(c)(1) doesn't immediately affect SGMA's listing, the company must submit a compliance plan by October 15, 2024. If accepted, Nasdaq may grant an extension until February 12, 2025 for SGMA to regain compliance. The company is currently working on completing the Form 10-K.

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SigmaTron International, Inc. (SGMA) reported a 3% increase in revenues to $95.9 million for the third quarter of fiscal 2024, with net income decreasing to $0.6 million. For the nine months ended January 31, 2024, revenues decreased by 4% to $292.7 million, with net income at $0.9 million. The Company sold a majority position of its subsidiary, Wagz, Inc. in 2023. CEO Gary R. Fairhead mentioned a soft short-term backlog and reduced expenses and working capital.
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SigmaTron International, Inc. (NASDAQ: SGMA) reported a 9% decrease in revenues from continuing operations for the second quarter of fiscal 2024, with net income from continuing operations at breakeven. For the six months ended October 31, 2023, revenues decreased by 8% compared to the same period in the prior year. The Company also sold a majority position of its wholly owned subsidiary, Wagz, Inc. Commenting on the results, Gary R. Fairhead, CEO and Chairman, expressed satisfaction with the pre-tax profit of $371,928 for the quarter, despite challenges in the general economy affecting the customer base.
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SigmaTron International reports revenues and earnings for Q1 fiscal 2024
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SigmaTron International, Inc. reported revenues of $414.4 million for fiscal 2023, a 10% increase compared to fiscal 2022. Net income from continuing operations was $14.2 million for fiscal 2023, compared to $18.4 million for fiscal 2022. Revenues from continuing operations for the three-month period ended April 30, 2023, increased 10% to $108.3 million compared to the same period last year. Net income from continuing operations for the three-month period was $5.3 million, compared to $2.3 million for the same period last year.
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FAQ

What is the current stock price of Sigmatron International (SGMA)?

The current stock price of Sigmatron International (SGMA) is $2.65 as of November 20, 2024.

What is the market cap of Sigmatron International (SGMA)?

The market cap of Sigmatron International (SGMA) is approximately 16.3M.

What services does Sigmatron International Inc provide?

Sigmatron International Inc offers electronic manufacturing services, including printed circuit board assemblies, product assembly and testing, material sourcing and procurement, and warehousing and distribution.

Where are Sigmatron International's manufacturing facilities located?

Sigmatron's manufacturing facilities are located in the United States, Mexico, China, and Vietnam.

Which markets does Sigmatron International serve?

The company serves various markets including industrial electronics, consumer electronics, medical/life sciences, appliance, gaming, fitness, semiconductor, telecommunications, and automotive.

What quality certifications does Sigmatron International hold?

Sigmatron International holds ISO 9001:2008, ISO 13485:2003, and AS9100C certifications, and is registered under the International Traffic in Arms Regulations (ITAR).

How did Sigmatron perform financially in the fiscal year ending April 30, 2023?

Sigmatron reported a 10% increase in revenues to $414.4 million, but net income from continuing operations decreased to $14.2 million from $18.4 million in the prior year.

What was the impact of selling Wagz, Inc. on Sigmatron's financials?

The sale of a majority stake in Wagz, Inc. resulted in significant impacts on financial results due to discontinued operations, with notable losses reported for fiscal 2023 and 2022.

What are Sigmatron’s plans for fiscal 2024?

For fiscal 2024, Sigmatron is focusing on reducing inventory, managing customer demand fluctuations, and leveraging its global manufacturing footprint despite mixed economic signals.

How does Sigmatron manage its materials?

Sigmatron has an International Purchasing Office in Taiwan and experienced procurement professionals at each facility to ensure a competitive materials management strategy.

What are the recent challenges faced by Sigmatron?

Sigmatron faces challenges such as economic uncertainties, fluctuating customer demands, and volatile electronic component supply chains.

Who is the CEO of Sigmatron International?

Gary R. Fairhead is the CEO and Chairman of the Board of Sigmatron International.

Sigmatron International Inc

Nasdaq:SGMA

SGMA Rankings

SGMA Stock Data

16.28M
4.91M
19.68%
15.67%
0.63%
Electronic Components
Printed Circuit Boards
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United States of America
ELK GROVE VILLAGE