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SigmaTron International, Inc. (SGMA)

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4.9200-0.0800 (-1.60%)
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Previous Close5.0000
Open5.0300
Bid4.7500 x 1000
Ask5.0200 x 2200
Day's Range4.7600 - 5.0300
52 Week Range2.7100 - 6.8000
Volume12,232
Avg. Volume31,886
Market Cap20.947M
Beta (5Y Monthly)1.26
PE Ratio (TTM)N/A
EPS (TTM)-0.1000
Earnings DateMar 10, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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  • GlobeNewswire

    SigmaTron International, Inc. Reports Third Quarter Financial Results for Fiscal 2021

    ELK GROVE VILLAGE, Ill., March 10, 2021 (GLOBE NEWSWIRE) -- SigmaTron International, Inc. (NASDAQ: SGMA), an electronic manufacturing services company, today reported revenues and earnings for the third quarter ended January 31, 2021. Revenues increased to $71.5 million for the third quarter of fiscal 2021 from $67.4 million for the same quarter in the prior year. Net income for the quarter was $249,268 compared to a net loss of $217,039 for the same period in the prior year. Basic and diluted earnings per share were each $0.06 for the quarter ended January 31, 2021, compared to basic and diluted loss per share each of $0.05 for the same quarter in fiscal 2020. For the nine months ended January 31, 2021, revenues decreased to $201.7 million compared to $216.3 million for the same period in the prior year. Net loss for the nine month period ended January 31, 2021 was $24,540 compared to net income of $805,169 for the same period in the prior year. Basic and diluted loss per share for the nine months ended January 31, 2021, were each $0.01, compared to basic and diluted earnings per share each of $0.19 for the nine months ended January 31, 2020. Commenting on SigmaTron’s third quarter, fiscal 2021 results, Gary R. Fairhead, President, Chief Executive Officer, and Chairman of the Board, said, “SigmaTron’s third quarter was both an interesting and successful quarter. As previously announced, SigmaTron changed its primary lender from U.S. Bank to J.P. Morgan Chase on January 29, 2021. We are excited about the new relationship and believe that it will better position us for the opportunities we see in front of us, both with our electronic manufacturing services core business and our anticipated acquisition of Wagz. “The change of banks resulted in a significant hit of approximately $360,000 to our third quarter pre-tax income. However, even with that expense, I’m pleased to report a pre-tax profit for the third quarter of fiscal 2021 and a pre-tax profit for the first nine months of fiscal 2021. After the horrendous first quarter we had, when our customers and the Company were impacted by COVID and our revenue was significantly reduced, we are pleased to have reached this milestone. “In addition, heading into the fourth quarter of fiscal 2021 the Company finds itself with a record backlog going forward. With that record backlog, we find ourselves facing a new set of challenges that you may have heard about in the national media and I referred to in our press release dated December 10, 2020. Tremendous demand for electronic components and, in particular, semiconductor products has accelerated beyond what we were seeing even then and we find the marketplace, in terms of our supply chain, volatile. Some parts are on allocation. Many parts have had price increases. In some cases, suppliers missed their shipping commitments. “Much has been made of the effect of this component marketplace on manufacturing, especially in the automobile industry, with factories being shut down due to the lack of supply. We are working closely with our supply chain and our customers when these situations occur but at this time there is every indication that this will continue through the balance of calendar 2021. “Also, we were negatively affected in February by the winter storms that paralyzed Texas and parts of Mexico. Our largest operation in Acuna/Del Rio was shut down for a week and our operation in Chihuahua for two days. Both operations returned to normal later in the month. “In addition to the record backlog, we have several new customers that we are starting to work with. We also have a record number of new opportunities going forward. Uncertainty remains regarding the future relationship between China and the United States so we will have to wait and see how that plays itself out. We have continued to make progress on our proposed acquisition of Wagz, Inc. and are even more excited about the opportunities we believe it will bring to both companies. “While we still have many challenges in our industry, in general, we see several strong quarters ahead of us and we should have good momentum closing out fiscal 2021 and heading into fiscal 2022.” About SigmaTron International, Inc. Headquartered in Elk Grove Village, Illinois, SigmaTron International, Inc. is an electronic manufacturing services company that provides printed circuit board assemblies and completely assembled electronic products. SigmaTron International, Inc. operates manufacturing facilities in Elk Grove Village, Illinois; Acuna, Chihuahua, and Tijuana Mexico; Union City, California; Suzhou, China, and Biên Hòa City, Vietnam. SigmaTron International, Inc. maintains engineering and materials sourcing offices in Elgin, Illinois and Taipei, Taiwan. Forward-Looking Statements Note: This press release contains forward-looking statements. Words such as “continue,” “anticipate,” “will,” “expect,” “believe,” “plan,” and similar expressions identify forward-looking statements. These forward-looking statements are based on the current expectations of the Company. Because these forward-looking statements involve risks and uncertainties, the Company’s plans, actions and actual results could differ materially. Such statements should be evaluated in the context of the direct and indirect risks and uncertainties inherent in the Company’s business including, but not necessarily limited to, the Company’s continued dependence on certain significant customers; the continued market acceptance of products and services offered by the Company and its customers; pricing pressures from the Company’s customers, suppliers and the market; the activities of competitors, some of which may have greater financial or other resources than the Company; the variability of the Company’s operating results; the results of long-lived assets impairment testing; the ability to achieve the expected benefits of acquisitions; the collection of aged account receivables; the variability of the Company’s customers’ requirements; the availability and cost of necessary components and materials; the ability of the Company and its customers to keep current with technological changes within its industries; regulatory compliance, including conflict minerals; the continued availability and sufficiency of the Company’s credit arrangements, including the phase-out of LIBOR; the ability to meet the Company’s financial covenant; changes in U.S., Mexican, Chinese, Vietnamese or Taiwanese regulations affecting the Company’s business; the turmoil in the global economy and financial markets; the spread of COVID-19 (commonly known as “Coronavirus”) which has threatened the Company’s financial stability by causing a decrease in consumer revenues, caused a disruption to the Company’s global supply chain, caused plant closings or reduced operations thus reducing output at those facilities; the stability of the U.S., Mexican, Chinese, Vietnamese and Taiwanese economic, labor and political systems and conditions; currency exchange fluctuations; and the ability of the Company to manage its growth. These and other factors which may affect the Company’s future business and results of operations are identified throughout the Company’s Annual Report on Form 10-K, and as risk factors, may be detailed from time to time in the Company’s filings with the Securities and Exchange Commission. These statements speak as of the date of such filings, and the Company undertakes no obligation to update such statements in light of future events or otherwise unless otherwise required by law. Financial tables to follow… CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended January 31, January 31, January 31, January 31, 2021 2020 2021 2020 Net sales 71,531,348 67,407,268 201,674,728 216,272,561 Cost of products sold 65,618,649 61,885,491 184,730,296 196,660,966 Gross profit 5,912,699 5,521,777 16,944,432 19,611,595 Selling and administrative expenses 5,212,629 5,469,654 15,693,893 16,997,268 Operating income 700,070 52,123 1,250,539 2,614,327 Other expense 476,712 371,893 1,078,880 1,348,668 Income (loss) before income tax 223,358 (319,770) 171,659 1,265,659 Income tax (benefit) expense (25,910) (102,731) 196,199 460,490 Net income (loss) $249,268 ($217,039) ($24,540) $805,169 Net income (loss) per common share - basic $0.06 ($0.05) ($0.01) $0.19 Net income (loss) per common share - assuming dilution$0.06 ($0.05) ($0.01) $0.19 Weighted average number of common equivalent shares outstanding - assuming dilution 4,310,290 4,242,508 4,255,334 4,260,022 CONDENSED CONSOLIDATED BALANCE SHEETS January 31, April 30, 2021 2020 Assets: Current assets 125,864,505 $130,616,797 Machinery and equipment-net 33,312,831 33,935,760 Deferred income taxes 284,434 284,435 Intangibles 2,085,137 2,350,949 Other assets 8,387,575 8,891,090 Total assets $169,934,482 $176,079,031 Liabilities and stockholders' equity: Current liabilities 67,481,312 $70,048,041 Long-term obligations 43,568,970 47,155,191 Stockholders' equity 58,884,200 58,875,799 Total liabilities and stockholders' equity $169,934,482 $176,079,031 For Further Information Contact:SigmaTron International, Inc.Linda K. Frauendorfer1-800-700-9095

  • GlobeNewswire

    SigmaTron International, Inc. Reports Second Quarter Financial Results for Fiscal 2021

    ELK GROVE VILLAGE, Ill., Dec. 10, 2020 (GLOBE NEWSWIRE) -- SigmaTron International, Inc. (NASDAQ: SGMA), an electronic manufacturing services company, today reported revenues and earnings for the quarter ended October 31, 2020. Revenues decreased to $69.6 million for the second quarter of fiscal 2021 from $74.9 million for the same quarter in the prior year. Net income decreased to $626,858 in the second fiscal quarter compared to $661,183 for the same period in the prior year. Basic and diluted earnings per share were each $0.15 for the quarter ended October 31, 2020 compared to basic and diluted earnings per share of $0.16 and $0.15, respectively, for the same quarter in fiscal 2020.For the six months ended October 31, 2020, revenues decreased to $130.1 million compared to $148.9 million for the same period ended October 31, 2019. Net loss for the six-month period ended October 31, 2020 was $273,808 compared to a net income of $1,022,208 for the same period in the prior year. Basic and diluted loss per share for the six months ended October 31, 2020, were each $0.06 compared to basic and diluted earnings per share of each $0.24 for the six months ended October 31, 2019.Commenting on SigmaTron’s second quarter, fiscal 2021 results, Gary R. Fairhead, President, Chief Executive Officer and Chairman of the Board, said, “I am pleased to report that SigmaTron continued its recovery from the downturn experienced in April and May of this year, and we had a solid second quarter for this fiscal year; we posted a pre-tax profit of $1,069,801 on revenue of $69,618,293. While the revenue for the quarter was lower than the same period in the prior year, mix was favorable. Because of this strong second quarter, we are close to breakeven for the first six months of fiscal 2021, which is most encouraging, especially considering that our results included expenses of $661,000 directly related to COVID. Those expenses will continue in all likelihood for the balance of this fiscal year.“At this time, the backlog continues to be strong for our third quarter.  Some of our customers have unexpectedly benefited from the pandemic and having people spend more time at home, which others continue to be depressed in terms of demand.  In addition, several of our customer’s customers apparently took their inventory lower than demand and they are now expediting orders for delivery as soon as possible.  How long this will last is hard to determine but it appears that the possibility of a vaccine in the near term has encouraged our customers to ramp up production again.  If, indeed, the economy continues to grow as it has recently, we believe we are well positioned for the second half of fiscal 2021 and we have recently landed several new opportunities that bode well for fiscal 2022.  However, as positive as things are now, we believe the situation remains fluid and volatile and could change for our customers quickly.  As you would expect, with the unexpected increase in demand come the challenges on the supply side regarding components and lead-times.  Some of that is handled by the inventory on-hand but the possibility exists of lengthening lead-times slowing down the ability to meet the un-forecasted demand.“As previously reported, the Company received a PPP Loan in April 2020, and we recorded it as a liability on our balance sheet. We have not yet applied for forgiveness. Also, as previously reported, we continue to work towards a deal whereby the Company will acquire Wagz, Inc. We are hopeful that the transaction will be closed by the end of our third fiscal quarter.“In summary, the second quarter was a good one and the Company continues to head in the right direction.  Many of our short-term challenges now are the ones tied to un-forecasted demand inside of lead-time, which are generally good problems to have.  Our customers seem to be more optimistic because of the vaccine, which is also encouraging.  Finally, we believe that the opportunities with Wagz continue to grow and the combination of the two companies will ultimately benefit all shareholders involved.”About SigmaTron International, Inc.Headquartered in Elk Grove Village, Illinois, SigmaTron International, Inc. is an electronic manufacturing services company that provides printed circuit board assemblies and completely assembled electronic products. SigmaTron International, Inc. operates manufacturing facilities in Elk Grove Village, Illinois; Acuna, Chihuahua, and Tijuana Mexico; Union City, California; Suzhou, China, and Biên Hòa City, Vietnam. SigmaTron International, Inc. maintains engineering and materials sourcing offices in Elgin, Illinois and Taipei, Taiwan.Forward-Looking StatementsNote: This press release contains forward-looking statements. Words such as “continue,” “anticipate,” “will,” “expect,” “believe,” “plan,” and similar expressions identify forward-looking statements. These forward-looking statements are based on the current expectations of the Company. Because these forward-looking statements involve risks and uncertainties, the Company’s plans, actions and actual results could differ materially. Such statements should be evaluated in the context of the direct and indirect risks and uncertainties inherent in the Company’s business including, but not necessarily limited to, the Company’s continued dependence on certain significant customers; the continued market acceptance of products and services offered by the Company and its customers; pricing pressures from the Company’s customers, suppliers and the market; the activities of competitors, some of which may have greater financial or other resources than the Company; the variability of the Company’s operating results; the results of long-lived assets impairment testing; the ability to achieve the expected benefits of acquisitions; the collection of aged account receivables; the variability of the Company’s customers’ requirements; the availability and cost of necessary components and materials; the ability of the Company and its customers to keep current with technological changes within its industries; regulatory compliance, including conflict minerals; the continued availability and sufficiency of the Company’s credit arrangements, including the phase-out of LIBOR; the ability to meet the Company’s financial covenant; changes in U.S., Mexican, Chinese, Vietnamese or Taiwanese regulations affecting the Company’s business; the turmoil in the global economy and financial markets; the spread of COVID-19 (commonly known as “Coronavirus”) which has threatened the Company’s financial stability by causing a decrease in consumer revenues, caused a disruption to the Company’s global supply chain, caused plant closings or reduced operations thus reducing output at those facilities; the stability of the U.S., Mexican, Chinese, Vietnamese and Taiwanese economic, labor and political systems and conditions; currency exchange fluctuations; and the ability of the Company to manage its growth. These and other factors which may affect the Company’s future business and results of operations are identified throughout the Company’s Annual Report on Form 10-K, and as risk factors, may be detailed from time to time in the Company’s filings with the Securities and Exchange Commission. These statements speak as of the date of such filings, and the Company undertakes no obligation to update such statements in light of future events or otherwise unless otherwise required by law.Financial tables to follow…                  CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS                           Three Months Three Months Six Months Six Months  Ended Ended Ended Ended  October 31,  October 31,  October 31,  October 31,  2020 2019 2020  2019          Net sales$69,618,424 $74,855,312 $130,143,380 $148,865,293          Cost of products sold62,858,882 67,725,826 119,111,647 134,775,475          Gross profit6,759,542 7,129,486 11,031,733 14,089,818          Selling and administrative expenses5,421,739 5,700,288 10,481,264 11,527,614          Operating income1,337,803 1,429,198 550,469 2,562,204          Other expense268,002 451,909 602,168 976,775          Income (loss) before income tax1,069,801 977,289 (51,699) 1,585,429          Income tax expense442,943 316,106 222,109 563,221          Net income (loss)$626,858 $661,183 ($273,808) $1,022,208                   Net income (loss) per common share - basic$0.15 $0.16 ($0.06) $0.24          Net income (loss) per common share - assuming dilution$0.15 $0.15 ($0.06) $0.24                   Weighted average number of common equivalent        shares outstanding - assuming dilution4,257,508 4,278,901 4,254,247 4,251,590                            CONDENSED CONSOLIDATED BALANCE SHEETS                  October 31,  April 30,      2020 2020              Assets:                 Current assets$121,312,642 $130,616,797              Machinery and equipment-net33,735,679 33,935,760              Deferred income taxes285,105 284,435     Intangibles2,173,525 2,350,949     Other assets8,933,500 8,891,090              Total assets$166,440,451 $176,079,031              Liabilities and stockholders' equity:                 Current liabilities$63,043,430 $70,048,041              Long-term obligations44,779,801 47,155,191              Stockholders' equity58,617,220 58,875,799              Total liabilities and stockholders' equity$166,440,451 $176,079,031     For Further Information Contact: SigmaTron International, Inc. Linda K. Frauendorfer 1-800-700-9095

  • Does SigmaTron International's (NASDAQ:SGMA) CEO Salary Compare Well With The Performance Of The Company?
    Simply Wall St.

    Does SigmaTron International's (NASDAQ:SGMA) CEO Salary Compare Well With The Performance Of The Company?

    Gary Fairhead has been the CEO of SigmaTron International, Inc. (NASDAQ:SGMA) since 1993, and this article will...