ELK GROVE VILLAGE, IL – SigmaTron International reported revenue of $98.7 million in the second quarter of its fiscal year, a decrease of 9% from the same quarter last year.

For the first six months of its fiscal year, the company's revenue of $196.8 million marked an 8% year-on-year decrease.

"I’m pleased to report a pre-tax profit of $371,928 for a difficult quarter," said CEO Gary R. Fairhead .Revenues were 9% below the second quarter of fiscal 2023, as the weaker general economy continued to affect our customer base. Our revenues were essentially flat from the first quarter of fiscal 2024 and yet we managed to increase our pre-tax profit, up from $107,964 for the first quarter. We continue to make progress in reducing our on-hand inventory, which is a clear objective for the Company.

"As we head into our third quarter, our short-term backlog remains soft as our customers evaluate their inventory levels starting the new calendar year. We expect the third quarter to be difficult and believe revenue levels will start to increase during our fourth quarter. Putting aside the short-term softness, we are excited about our prospects for the first part of fiscal 2025. We have recently been awarded several new contracts with significant upside and the backlog for our current business should start to increase at the same time.

"Regarding the electronic component marketplace, we have seen some modest improvements. However, several semiconductor components remain on allocation or with lead times beyond 52 weeks. We expect supply chain metrics to continue to relax, resulting in shorter lead times. Significant uncertainty remains as we are eleven months out from an election, and geopolitical problems in Ukraine and the Middle East are definitely creating volatility. On balance, we remain positive about the prospects for the Company."

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