ELK GROVE VILLAGE, IL -- SigmaTron International reported lower quarterly profits and sales for its fiscal quarter ended July 31 as shipments experienced an unexpected drop. 

Revenues decreased 2.3% from a year ago to $54.9 million, while net income was $16,810, down from $967,464. 

Chief executive and president Gary R. Fairhead said, "The first quarter of fiscal 2015 was disappointing financially. Our customers' demand can be volatile short term and we experienced what appears to be an unexpected short-term slowdown in shipments during the first quarter.While there is some seasonality to our overall customer demand, this slowdown was unexpected going into the first quarter of fiscal 2015 and I believe reflects the continuing volatility of customer demand and the short-term focus of the economy."

Fiscal second quarter revenue has started stronger sequentially, Fairhead added, attributing the drop to short-term inventory adjustments at customers.

The EMS company new programs from existing customers are expected to increase and several programs with new customers will launch during the fiscal second quarter. 

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