SigmaTron's Revenue Up, Profits Down PDF Print E-mail
Written by Mike Buetow   
Tuesday, 11 September 2012 09:51

ELK GROVE VILLAGE, IL -- EMS firm SigmaTron International swung to a net loss for its first fiscal 2013 quarter on charges related to acquisitions and moves.

For the quarter ended July 31, the electronic manufacturing services company's revenues increased 22% year-over-year to $47.6 million. The net loss was $93,144, down from net income of $240,961 a year ago.

During the quarter, SigmaTron took $589,000 in one-time expenses related to acquisitions and $392,000 in one-time charges related to relocations. SigmaTron acquired Spitfire Control along with its manufacturing sites in Chihuahua, Mexico and Ho Chi Minh City, Vietnam, and relocated its Tijuana operation to a larger, new building.

Chairman, CEO and president Gary R. Fairhead said, "When looking at our results in light of those expenses, the quarter was decent from an operational perspective. The majority of these nonrecurring expenses are behind us, but there will be some one-time expenses in the second quarter related to the Spitfire acquisition.

"We continue to see a choppy and volatile general economy," he added. "Until the economy strengthens, we expect continuing margin pressures and we plan to focus on opportunities to add new revenue and control expenses."

 

See SigmaTron at PCB West at the Santa Clara (CA) Convention Center Sept. 26: www.pcbwest.com

 

 

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