Sigmatron Int'l (SGMA) Reports Q1 EPS of $0.03
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Sigmatron Int'l (NASDAQ: SGMA) reported Q1 EPS of $0.03, versus $0.16 reported last year. Revenue for the quarter came in at $58.9 million, versus $64.2 million reported last year.
Commenting on SigmaTron’s first quarter fiscal 2017 results, Gary R. Fairhead, President, Chief Executive Officer and Chairman of the Board, said, “I’m pleased to report that SigmaTron was profitable during the first quarter of fiscal 2017. The quarter was a difficult one in terms of revenue as we saw sales decline 3% from the fourth quarter of fiscal 2016. This is now the third quarter in a row where we have seen a slowing of demand, which we continue to attribute to a sluggish domestic economy and a stagnant global economy. We were able to manage this slowdown while still positioning the Company for future growth.
“As we enter the second quarter, we are pleased to see revenue rebound somewhat and short term demand strengthen. Customers that pushed orders out have begun to pull them in, and we believe in the second quarter revenue should increase. We have historically seen a small amount of seasonality in the second quarter and some of our new customers and new programs with existing customers are beginning to launch. We are cautiously optimistic for the short term.
“In the long term we remain excited about those new customers that have awarded us business and potential new customers in the pipeline. We also see some exciting new programs with existing customers which we hope they will launch during this fiscal year. Hopefully that momentum will continue going forward, but we remain concerned about general economic conditions. We will manage accordingly.”
For earnings history and earnings-related data on Sigmatron Int'l (SGMA) click here.
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