SigmaTron International(SGMA) - 2025 Q2 - Quarterly Results

Financial Performance - For the six-month period ended October 31, 2024, revenues decreased by $37.3 million, or 19%, to $159.5 million compared to $196.8 million for the same period in the prior year[2] - The net loss for the six-month period ended October 31, 2024, was $12.8 million, compared to a net income of $0.3 million for the same period in the prior year[2] - For the three-month period ended October 31, 2024, revenues decreased by $24 million, or 24%, to $74.7 million compared to $98.7 million for the same quarter in the prior year[8] - The net loss for the three-month period ended October 31, 2024, was $9.5 million compared to break even for the same period in the prior year[8] - Basic and diluted loss per share for the six-month period ended October 31, 2024, was $2.08, compared to income per share of $0.05 for the same period in the prior year[2] Expenses and Financial Adjustments - The company recorded approximately $3.3 million in expenses during the second quarter related to debt modification and deferred financing costs[8] - A sale/leaseback of the Elk Grove Village property was completed, resulting in a one-time capital gain of approximately $7 million expected to be reported in the third quarter[3] Future Outlook - The company anticipates that the current trend of depressed revenue levels will continue into the third fiscal quarter due to seasonal factors[15] - Customers are starting to indicate a stronger economic outlook for calendar 2025, with modest orders being pulled in and increased activity in new opportunities[24] - The company is focused on reducing inventory further, with expectations for significant gains in reduction efforts during the third quarter[24]