SigmaTron Q1 Sales Down 8% PDF Print E-mail
Written by Mike Buetow   
Tuesday, 11 March 2008 09:16
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."

Last Updated on Tuesday, 11 March 2008 09:20
 

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