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SigmaTron Q1 Sales Down 8% |
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Written by Mike Buetow
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Tuesday, 11 March 2008 |
ELK GROVE VILLAGE, IL – SigmaTron International today reported third-quarter revenues fell 7.8% to $41.1 million, from the same quarter in the prior year. Net income rose about 300% during the quarter, which ended Jan. 31.
In a statement, president and chief executive Gary R. Fairhead, "While I am pleased to report third quarter and year-to-date profits that are ahead of last year's results for the same periods, I am disappointed that I am not able to report higher profits than those posted. Our environment remains difficult, with continuing pricing pressure from both customers and suppliers."
As a result, the EMS provider said it would migrate certain products to lower-cost operations.
During the third quarter, the company was weighed down by its Tijuana, Mexico, operation. "We have recently seen increased interest in our Tijuana operation," said Fairhead, "and I continue to believe that Tijuana remains strategically important to our future success on the West Coast. We are continuing to make progress regarding our operational issues in Tijuana."
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