ELK GROVE VILLAGE, IL -- SigmaTron reported fiscal second-quarter net income rose 690% to $1.16 million on seasonality and revenue gains. 

Revenues for the period ended Oct. 31 increased 13.3% over last year to $69.7 million.

"The trend in new programs with new and existing customers continued into our second quarter and our expectations to see sequential growth were met," said CEO and president Gary R. Fairhead. "We saw both revenue and earnings grow in comparison to the second quarter of fiscal 2015 as well as in comparison to the first quarter of 2016. This growth was driven by new programs with existing customers and new customers, both of which resulted from awards in fiscal 2015.

"There is some modest seasonality to our customer base which also helped drive our second-quarter results. As we head into the third quarter, we would anticipate lower revenue than the second quarter, primarily driven by the December holiday period, but signs remain encouraging that after the holidays revenue will remain steady."