-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueComing to Terms With AI
In this issue, we examine the profound effect artificial intelligence and machine learning are having on manufacturing and business processes. We follow technology, innovation, and money as automation becomes the new key indicator of growth in our industry.
Box Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
SigmaTron International Posts FY2017 Revenues of $252M
August 4, 2017 | GlobeNewswireEstimated reading time: 2 minutes
EMS firm SigmaTron International Inc. has reported revenues and earnings for the fiscal year ended April 30, 2017. Revenues decreased to $252.2 million in fiscal year 2017 from $253.9 million in the prior fiscal year. Net income decreased to $1,390,206 in fiscal year 2017 compared to $2,082,659 in fiscal year 2016. Basic and diluted earnings per share for the fiscal year ended April 30, 2017 were each $0.33 compared to $0.50 and $0.49 each in fiscal year 2016.
For the fourth quarter of fiscal year 2017, revenues increased to $65.6 million compared to $60.8 million for the same quarter in the prior fiscal year. Basic and diluted earnings per share for the fiscal year 2017 fourth quarter were each $0.30 compared to basic and diluted earnings per share of $0.01 each for the same period of fiscal year 2016.
Commenting on SigmaTron's results, Gary R. Fairhead, President, Chief Executive Officer and Chairman of the Board, said, "I'm pleased to report that SigmaTron had an excellent fourth quarter of fiscal 2017 and closed the year on a positive note. Although several one-time events as well as year-end adjustments contributed to the fourth quarter results, the base business was solid and revenues started what we believe is an upward trend during the quarter.
"We believe that the election results have generated a more positive attitude regarding the economy for calendar 2017 and at this time we expect this trend to continue. There has been some short-term volatility with our customers compared to their scheduled orders three months ago, but we do expect some additional new customers to come on board later this year. Margin pressures continue but we believe the additional revenue will assist us in managing those pressures. The optimistic economic outlook, however, has created some additional challenges as we are seeing some shortages in the component marketplace that could affect our ability to meet our customers' backlog. In all cases, each effected customer is working with us to address the issue with the supplier of the component.
"Also during the fourth quarter, I am pleased to report that SigmaTron changed its primary banking relationship to US Bank N.A. Our new agreement provides access to significant additional working capital while lowering our overall borrowing costs. We believe this will help position us for the growth we see ahead and look forward to working with US Bank N.A.
"As always, I want to take this opportunity to thank our customers, supply chain, our new bank, US Bank N.A., our Board of Directors, and our greatest asset, our employees, that made fiscal 2017 profitable and provided momentum going forward."
About SigmaTron International
Headquartered in Elk Grove Village, Illinois, SigmaTron International Inc. is an electronic manufacturing services company that provides printed circuit board assemblies and completely assembled electronic products. SigmaTron International Inc. operates manufacturing facilities in Elk Grove Village, Illinois; Acuna, Chihuahua, and Tijuana Mexico; Union City, California; Suzhou, China, and Ho Chi Minh City, Vietnam. SigmaTron International Inc. maintains engineering and materials sourcing offices in Elgin, Illinois and Taipei, Taiwan.
Suggested Items
Real Time with… IPC APEX EXPO 2024: Innovative Lamination Technology
05/07/2024 | Real Time with...IPC APEX EXPOKevin Barrett of Insulectro and Victor Lazaro of Indubond discuss their companies' partnership, focusing on Indubond's innovative lamination technology that uses induction heating. They discuss the advantages of this technology over traditional methods, its benefits to customers, and the crucial role of automation in manufacturing.
Micron First to Ship Critical Memory for AI Data Centers
05/01/2024 | MicronMicron Technology, Inc. announced it is leading the industry by validating and shipping its high-capacity monolithic 32Gb DRAM die-based 128GB DDR5 RDIMM memory in speeds up to 5,600 MT/s on all leading server platforms.
HQ NextPCB of HQ Electronics Debut on the International Stage for Electronics Manufacture at IPC APEX 2024
05/01/2024 | PRNewswireHQ NextPCB of HQ Electronics, a leading Chinese-based multilayer PCB manufacturer and assembly house showcased its industrial prowess on the international stage for the first time at the IPC APEX Expo 2024.
GPV’s Q1 2024 Interim Financial Report Shows Strong Navigation in Uncertain Times
05/01/2024 | GPVDanish-based GPV recorded an expected drop in sales to DKK 2.3 billion for the first quarter of 2024. The decline also affected the operating profit, which was DKK 155 million compared to DKK 179 million in the same quarter last year, although the EBITDA margin was maintained. In general, demand has been softer in 2024, but GPV continues to invest for the long-term and expects the trend to turn in the second half of 2024.
The Knowledge Base: A CM’s Perspective on Box Build Practices
04/30/2024 | Mike Konrad -- Column: The Knowledge BaseIn the ever-evolving landscape of electronics manufacturing, the box-build process stands out as a critical phase that bridges the gap between individual component manufacturing and the delivery of a fully functional electronic system. This intricate procedure, encompassing the assembly of everything from PCBs to wire harnesses and mechanical enclosures, demands a high level of precision, efficiency, and innovation. As the electronics assembly industry expands and diversifies, understanding the best practices within box-build assembly has become paramount for manufacturers aiming to stay ahead in a competitive market.