Circuits Assembly Online Magazine - SigmaTron Reports 4.7% Drop in Q2 Revenues

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ELK GROVE VILLAGE, IL – EMS provider SigmaTron International reported revenues decreased to $42.8 million for the second quarter 2008, down 4.7% year-over-year. Net income decreased to $693,274, down 2% year-over-year.

For the first half of the year, revenues increased 1% to $82.7 million compared to the same period last year.

Net income was $1.52 million, up 36.4% year-over-year.

“Our results were negatively impacted by a delay in launching several new programs with various customers that will be additive to our existing business with them, as well as slowing sales to some of our customers. At this point we believe several of the new programs will start during the third quarter, with continuing production dependent on our customers sell-through of the new product,” president and CEO Gary R. Fairhead said.