ELK GROVE VILLAGE, IL -- SigmaTron today reported fiscal third quarter revenues rose 4.6% to $61.9 million but the firm swung to a net loss.

For the third quarter ended Jan. 31, the EMS company swung to a net loss of $47,852, versus net income of $218,728 the same period in the prior year. For the nine months ended Jan. 31, revenues decreased 3.4% to $186.7 million. Net income was $132,040 compared to net income of $2.03 million the prior year.

In a press statement, CEO and president Gary Fairhead said, “As stated in our second quarter press release we had concern that we may have a loss in the third quarter. However, I’m pleased to report that the post-election activity with some of our customers was positive allowing revenue to grow modestly and allowing us to post a small pretax profit.

“Based on what we’ve seen since the election, we remain positive and optimistic regarding our fourth fiscal quarter and beyond. Many programs with existing customers that were on hold have been released and in some cases expedited. New customers with significant programs that we have been working with for a period of time are finally expected to go to market during our fourth quarter or during the beginning of fiscal 2018. Many of these programs are in new markets for us. Based on these developments we are optimistic for the balance of calendar 2017.

“With that said, ongoing pricing pressures remain from both customers and suppliers. We will continue to manage those as we have in the past and believe that the new business and projected increased volume will improve our profitability. There is uncertainty regarding the new administration’s foreign trade policy, specifically with Mexico and China. While that remains an unknown, we believe that our footprint will continue to serve us well as that policy continues to unfold, and generally we will find ourselves in a similar position to many of our competitors.”