ELK GROVE VILLAGE, IL -- SigmaTron today reported fiscal second quarter revenues rose 8.7% year-over-year to $61.5 million.

Net income decreased 81% to $146,429 in the second fiscal quarter ended Oct. 31 as the EMS company was hit by a large tax bill from divided repatriation.

Pretax profits were $723,254, down from were $949,811 last year.

President, chief executive and chairman Gary R. Fairhead, "I am pleased to report that SigmaTron was profitable for the second quarter of fiscal 2015. During the quarter SigmaTron recorded approximately $530,000 in income tax expense due to its inability to utilize a foreign tax credit related to a dividend repatriation.

"While we continue to experience volatile demand from our customer base, revenue was back on track after our disappointing first quarter of fiscal 2015. From our perspective, the general economy remains sluggish and volatile and margin pressures continue. Several new customers are scheduled to begin production with us in the third and fourth quarters of fiscal 2015. We anticipate that these customers will continue to diversify the markets we serve and hopefully will help stabilize our revenue base.

"We expect to continue to encounter volatile customer demand and pricing pressures for the balance of fiscal 2015," Fairhead added.

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