Sigmatron International, Inc. Reports First Quarter Financial Results For Fiscal 2025

Core Viewpoint - SigmaTron International, Inc. reported a significant decline in revenues and a net loss for the fiscal quarter ended July 31, 2024, indicating ongoing challenges in the electronic manufacturing services sector [2][3]. Financial Performance - Revenues for the three months ended July 31, 2024, decreased by $13.4 million, or 14%, to $84.8 million compared to $98.1 million for the same period in the prior year [2]. - The net loss for the same period was $3.3 million, contrasting with a net income of $0.3 million for the previous year [2]. - Basic and diluted loss per share was $0.54, compared to an income of $0.04 per share for the same period last year [2]. Management Commentary - The CEO noted that the revenue softness has persisted as anticipated, with expectations of a potential increase in activity by the fourth quarter of calendar 2024 [3]. - Despite the year-over-year decline of 14.4% in revenue, there was a sequential increase of 4.4% compared to the fourth quarter of fiscal 2024, suggesting a possible positive trend [3]. - The company is actively managing costs and overhead, including further reductions in manufacturing schedules and inventory to lower working capital requirements [3][4]. Operational Focus - SigmaTron is concentrating on reducing inventory levels and maintaining strong relationships with customers, with optimism for a stronger performance in calendar 2025 [4]. - The company is collaborating with Lincoln International to de-lever its balance sheet and has made progress in this area [4]. Company Overview - SigmaTron International operates as an independent provider of electronic manufacturing services, with facilities in the U.S., Mexico, China, and Vietnam [5]. - The company's services include printed circuit board assemblies, electro-mechanical subassemblies, and fully assembled electronic products [5].