ELK GROVE VILLAGE, IL -- SigmaTron International today reported revenues decreased 14.4% year-over-year to $84.8 million for its fiscal quarter ended Jul. 31.

The electronics manufacturing services company swung to a net loss of $3.3 million compared to income of $300,000 a year ago.

Gary R. Fairhead, chief executive and chairman, said in a statement, “The softness that we have seen in our revenue has continued as expected and disclosed in our press release dated Sept. 3. As we stated, the softness has continued through the first quarter of fiscal 2025 and our customers continued to indicate that they believe activity will start to increase in the fourth quarter of calendar 2024.

"Sequentially, the first quarter of fiscal 2025 was up 4.4% over the fourth quarter of fiscal 2024. We hope that’s the beginning of the trend that we have been told to expect. We have continued to react to these market conditions as we have been throughout this period by reductions in overhead and costs coupled with reduced manufacturing schedules. We have already done another reduction in August and we will continue to evaluate the situation as we finish calendar 2024.

SigmaTron remains focused on reducing inventory to reduce working capital requirements, and said it remains "optimistic" that calendar 2025 will be a much stronger year.

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