ELK GROVE VILLAGE, IL – SigmaTron International reported fiscal fourth quarter revenues of $73.3 million, up 7.5% year-over-year.

Fiscal 2019 revenues increased 4.5% to $290.5 million compared to fiscal 2018. For the fiscal year ended April 30, the company posted a net loss of $865,114, compared to a net loss of $3.2 million in fiscal year 2018.

“I’m pleased to report that SigmaTron posted a solid pre-tax profit of $1,788,996 for the fourth quarter of fiscal 2019,” said Gary R. Fairhead, president, CEO and chairman of the board. “The results were driven by modestly stronger revenue, improved pricing and favorable adjustments related to estimates made earlier in the year.

“The solid fourth quarter numbers resulted in a pre-tax profit of $866,301 for fiscal year 2019, which included a non-cash charge for currency fluctuations of $434,000. As disclosed earlier in the year, we recorded...a non-cash tax expense that resulted in a net loss of $865,114 for the entire year. Net income for the fourth quarter was $980,960.

“As we enter fiscal 2020, uncertainty remains pervasive in the market. The trade war with China weighs heavily on our operations. Customers are continuing to reevaluate their supply chains, and the uncertainty regarding trade policy remains a difficult variable to manage. We have seen the electronic component supply chain improve modestly. Shortening of lead-time for some components should assist in lowering inventory and allow us to react more efficiently to the volatility of customer demand requirements. With that said, all of this is dependent upon trade policy, and until agreements are reached, volatility will remain to the detriment of our industry.

“Current customers are launching new programs, and several new customers are starting to ramp production. Offsetting these positive developments, labor markets remain tight. Our focus will remain on inventory levels and increasing cash flow as the trade volatility remains. We are working these issues with our customers in an attempt to make both parties more efficient. In spite of the trade wars, we are optimistic regarding the fiscal year ahead of us, and if the trade wars are resolved, it would appear there is some additional upside available for fiscal 2020.”

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