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SigmaTron International, Inc. (SGMA)

NasdaqCM - NasdaqCM Real Time Price. Currency in USD
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5.18+0.08 (+1.63%)
As of 11:14AM EST. Market open.
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Neutralpattern detected
Previous Close5.10
Open5.11
Bid5.17 x 800
Ask5.20 x 1000
Day's Range5.11 - 5.28
52 Week Range2.13 - 5.67
Volume6,940
Avg. Volume42,596
Market Cap22.068M
Beta (5Y Monthly)1.27
PE Ratio (TTM)N/A
EPS (TTM)-0.20
Earnings DateDec 10, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • 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...

  • GlobeNewswire

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

    ELK GROVE VILLAGE, Ill., Sept. 09, 2020 (GLOBE NEWSWIRE) -- SigmaTron International, Inc. (NASDAQ: SGMA), an electronic manufacturing services company, today reported revenues and earnings for the fiscal quarter ended July 31, 2020. Revenues decreased to $60.5 million in the first quarter of fiscal 2021 from $74.0 million for the same quarter in the prior year.  The Company incurred a net loss of $900,666 for the quarter ended July 31, 2020 compared to net income of $361,025 for the same period in the prior year.  Basic and diluted loss per share for the quarter ended July 31, 2020, were each $0.21, compared to basic and diluted earnings per share of $0.09 each for the same quarter ended July 31, 2019.Commenting on SigmaTron’s first quarter fiscal 2021 results, Gary R. Fairhead, President, Chief Executive Officer and Chairman of the Board, said, “As previously reported in our fiscal year 2020 press release and 10-K, SigmaTron is reporting a pre-tax loss for the first quarter of fiscal 2021.  Over the past two quarters we have experienced a v-shaped curve in terms of revenue:  February was close to forecast, March was a 10% decline, April and May’s decline was 30% or greater, followed by a significant rebound in June and a full recovery in July.  The May pre-tax loss was greater than the loss for the entire quarter so we were slightly above breakeven for the last two months of the first quarter of fiscal 2021.“During the first quarter results were negatively affected by the revenue decline and manufacturing inefficiencies caused by COVID, especially in Mexico.  Several of our plants were shut down while we were required to incur continuing labor costs and as they reopened, we experienced significant inefficiencies.  None of this is a surprise given the far-reaching effects of the pandemic.“As disappointing as the first quarter was, the second quarter is as encouraging.  The backlog for the second quarter is strong and while several of our major customers continue to be negatively affected by the pandemic, others have benefitted and are compensating for those customers with lower than expected revenue.  As stated in our 10-K, the full impact of the pandemic will depend on future developments, which are highly uncertain and cannot be predicted.  And there is no doubt that customers are also mindful of the election in November.“As reported at fiscal 2020 year-end, the Company elected to account for its PPP Loan by using loan accounting.  There is no effect from any potential loan forgiveness reflected in our first quarter results.  Once the procedure to apply for forgiveness is finalized by the government, the Company currently plans to apply for the forgiveness of the entire loan.“Also, as previously reported, the Company and Wagz, Inc. entered into a Letter of Intent under which the Company and Wagz would be combined by the end of August 2020.  To date that has not happened but both companies are continuing to work towards closing the deal by the end of our second fiscal quarter.  We will report on that separately when appropriate.“In summary, the current trend for the Company is heading in the right direction.  Obviously, uncertainty remains regarding the general economy because of the pandemic and the election.  In spite of this, we continue to land new customers and are working on several significant new opportunities.  We are enthusiastic about our pending deal with Wagz.  All of the aforementioned leads us to believe that better times are ahead.”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 follow…             CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS                 Three Months Three Months   Ended Ended   July 31,  July 31,    2020   2019        Net sales $60,524,956  $74,009,981        Cost of products sold  56,252,765   67,049,649        Gross profit  4,272,191   6,960,332        Selling and administrative expenses  5,059,525   5,827,326        Operating (loss) income  (787,334)  1,133,006        Other expense  334,166   524,866        (Loss) income before income tax  (1,121,500)  608,140        Income tax (benefit) expense  (220,834)  247,115        Net (loss) income ($900,666) $361,025              Net (loss) income per common share - basic ($0.21) $0.09        Net (loss) income per common share - assuming dilution($0.21) $0.09              Weighted average number of common equivalent         shares outstanding - assuming dilution  4,250,986   4,241,883                    CONDENSED CONSOLIDATED BALANCE SHEETS            July 31,  April 30,    2020   2020        Assets:           Current assets $123,189,280  $130,616,797        Machinery and equipment-net  33,632,655   33,935,760        Deferred income taxes  280,764   284,435  Intangibles  2,261,913   2,350,949  Other assets  9,482,870   8,891,090        Total assets $168,847,482  $176,079,031        Liabilities and stockholders' equity:           Current liabilities $60,797,911  $70,048,041        Long-term obligations  50,059,209   47,155,191        Stockholders' equity  57,990,362   58,875,799        Total liabilities and stockholders' equity $168,847,482  $176,079,031                      For Further Information Contact: SigmaTron International, Inc. Linda K. Frauendorfer 1-800-700-9095