ELK GROVE VILLAGE, IL -- SigmaTron today reported revenues rose 16.9% to $64.2 million for its first fiscal quarter ended July 31.

Net income jumped to $658,806 from $16,810 the same period a year ago.

Chairman, CEO and president Gary R. Fairhead said, "[W]e anticipated that new programs with existing and new customers would be launching during the quarter and we benefited from that. We also saw some nominal growth on our existing base of business, all of which resulted in the positive results for the first quarter.

"Equally important, that trend continues into the second quarter. Additional programs will be launching and several of the programs that have been launched are still continuing to ramp. Should the economy remain steady, which is always a concern these days, we would expect to see sequential growth from the first quarter to the second quarter in terms of revenue. We also continue to pursue new opportunities that we remain hopeful we will be able to land and help continue our growth in markets that we are targeting.

"While all of that is positive news, clearly the economy remains volatile and sluggish at best. While we are excited about the opportunities, we remain cautious about the possibility of short-term slowdowns, and will manage accordingly. Margin pressures continue but we feel that we continue to head in the right direction."

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