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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.
SigmaTron International (NASDAQ: SGMA) reported financial results for Q2 FY2025. Revenue decreased 24% to $74.7 million compared to $98.7 million in the prior year. The company recorded a net loss of $9.5 million, with a loss per share of $1.55. For the six-month period, revenue fell 19% to $159.5 million, with a net loss of $12.8 million.
The quarter included $3.3 million in expenses related to debt modification and financing costs. Despite challenges, the company reported an operating profit in October, showing positive impact from restructuring efforts. SigmaTron completed a sale/leaseback of its Elk Grove Village property, expecting to report a one-time capital gain of approximately $7 million in Q3. Management expects current depressed revenue levels to continue through Q3, but anticipates improved conditions in calendar 2025.
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.
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.
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.
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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