ELK GROVE VILLAGE, IL -- SigmaTron reported revenues and earnings for its fiscal fourth quarter rose 1% to $60.8 million.
Net income was $48,827, down from $176,093 a year ago.
The electronics manufacturing services company said revenues for the year ended Apr. 30, increased to $253.9 million from $230.2 million a year ago. Net income increased to $2.1 million, up from $903,412 in fiscal 2015.
Chairman, chief executive and president Gary R. Fairhead said, “I’m pleased to report that SigmaTron was profitable during the fourth quarter of fiscal 2016 as well as for the entire fiscal year. Our fourth quarter of fiscal 2016 was essentially a repeat of the fourth quarter of fiscal 2015, in that it was profitable but disappointing. In fact, we have seen revenue decrease the second half of fiscal 2016, and revenue in the third quarter and the fourth quarter were essentially the same. This reflects the continuing stagnant global economy that has been experienced in recent months.
“On a positive note, the results for fiscal 2016 were much better than fiscal 2015, with our net income more than doubling from the prior year. This was led by a strong first half of fiscal 2016 but clearly the economy slowed for the second half of our fiscal year.
“Going forward, we remain optimistic about continued growth in fiscal 2017. We continue to grow our business with existing customers and adding new customers."