ELK GROVE VILLAGE, IL -- Electronics manufacturing services firm SigmaTron International reported revenues for its 2006 fiscal year ended April 30 increased 32.3% to $124.8 million. Net income fell 60% to $1.9 million for the year.

Fourth quarter revenues increased 52% to $34.5 million.

President and chief executive Gary R. Fairhead said, "Although we remained profitable in fiscal 2006, we were disappointed that our profits this year declined in comparison to the prior three-years' results. While the acquisition of Able Electronics in July of 2005 negatively impacted our fiscal 2006 results, we believe Able will strengthen our long-term position by diversifying our customer base, growing our international footprint and improving our operations."

During fiscal 2006, sales increased in industrial electronics, life sciences, semiconductor and appliances, primarily due to sales to new customers as a result of the Able acquisition. The increase in sales was partially offset by price reductions, and the company expects pricing pressures will continue in fiscal 2007. Sales in the gaming industry decreased during the year mainly due to the sale of the company's Las Vegas operation, in May 2005.

Selling and administrative expenses for the periods ended April 30, 2006 and 2005 were $10.9 million and $10.1 million, respectively. In fiscal 2006, selling and administrative expenses represented 8.8% of net sales compared to 10.7% of net sales in fiscal 2005.

Each of the company's operations is now certified to produce RoHS-compliant assemblies.

Fairhead said revenue grew at its Elk Grove Village site, and the company will study possible expansion of its Acuna, Mexico, location (already the firm's largest). The firm's Tijuana, Mexico, location was not profitable in fiscal 2006, but SigmaTron has added staff, increased operational space and is in the process of relocating several customers to that facility.