-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueWet Process Control
In this issue, we examine wet processes and how to obtain a better degree of control that allows usable data to guide our decisions and produce consistently higher-quality products.
Don’t Just Survive, Thrive
If we are to be relevant and prosper during these next critical decades in electronics, we must do more than survive. As an industry, we can and must thrive. In this issue, our contributors explore these concepts meant to help you take your business to the next level.
Material Matters
Materials management is nuanced, multifaceted, and requires a holistic systems approach for business success. When building high mix, low volume, and high technology, managing materials and overall cost containment are even greater challenges.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - pcb007 Magazine
SigmaTron Reports Financial Results for Q1 Fiscal 2024
September 12, 2023 | Globe NewswireEstimated reading time: 2 minutes
SigmaTron International, Inc., an electronic manufacturing services company, reported revenues and earnings for the fiscal quarter ended July 31, 2023.
Revenues from continuing operations decreased $7.1 million, or 7 percent, to $98.1 million in the first quarter of fiscal 2024, compared to $105.2 million for the same quarter in the prior year. Net income from continuing operations for the first quarter ended July 31, 2023, was $0.3 million, compared to net income of $3.1 million for the same quarter in the prior year. Diluted income per share from continuing operations for the quarter ended July 31, 2023 was $0.04, compared to $0.50 income per share for the same quarter in the prior year.
As previously reported, the Company sold a majority position of its wholly owned subsidiary, Wagz, Inc. (“Wagz”), effective April 1, 2023. As a result, the Company has reported results from Wagz for fiscal 2023 as discontinued operations. For the first quarter ended July 31, 2022, net loss from discontinued operations was $1.7 million. Diluted net loss per share from discontinued operations for the first quarter ended July 31, 2022 was $0.28.
Commenting on SigmaTron’s first quarter fiscal 2024 results, Gary R. Fairhead, Chief Executive Officer, and Chairman of the Board, said, “I’m disappointed to report what is essentially a breakeven quarter to begin our fiscal 2024. Our pre-tax profit was $107,964 for the quarter. As mentioned in our fiscal year-end press release, there was a significant amount of uncertainty with the general economy and our customers. It appears that the effort by the Federal Reserve to slow inflation has weakened the economy which has resulted in lower demand from some of our customers. We have certain customers whose demand remains quite strong and others who have experienced short-term softness. I’m expecting this uncertainty to continue through calendar year-end as those customers are indicating to us that they view this softness as a short-term condition and expect their requirements to pick up by year-end.
“While disappointing, we remain enthusiastic about the long-term prospects for our customers. We have several customers that participate in the infrastructure programs coming out of Washington D.C. and we have others in markets where they have a strong position and forecast future upside. Couple this with several new opportunities and we think that we can generate later this fiscal year, the revenue levels we have recently reported in the preceding fiscal year.
“The electronic component marketplace has modestly improved with the slowing of the economy. That’s encouraging from a supply chain perspective and should allow us to continue our focus on reducing inventory. That remains one of our important objectives during fiscal 2024. The geopolitical situation, specifically in Asia remains uncertain and may have an impact of how this fiscal year will proceed. The trade war with China does not seem to have any short-term solution so our focus remains working on Chinese domestic opportunities and other opportunities outside of sales directly to the United States. Regardless we will continue to grow our business while utilizing our experienced employees and our desirable footprint.”
Suggested Items
Danish-founded Defense Group Aims for More Responsibility Within Defense Supply Chain
09/09/2024 | CONFIDEEUnder the slogan "Together We Are Stronger," the AS9100 Nordic Consortium unites a powerful network of committed Danish companies, along with one Norwegian partner. This collaboration strives to elevate the defense and aerospace industries through a shared focus on traceability and quality management.
Automation Innovations and Better Process Control
09/06/2024 | Barry Matties, I-Connect007Mark Skaer specializes in automation at Omron. In this interview, he sheds light on the challenges and solutions integrating sophisticated automation technologies in various manufacturing settings by emphasizing the importance of understanding customer needs to tailor effective solutions. With a rich background in electrical engineering, Mark plays a pivotal role in showcasing Omron’s state-of-the-art automation capabilities through trade shows and technical demonstrations.
Zhen Ding Posts August 2024 Monthly Revenue Report
09/06/2024 | Zhen Ding TechnologyZhen Ding Technology Holding Limited, a global leading PCB manufacturer, today reported August 2024 revenue of NT$17,814 million, up 29.2% YoY and up 32.4% MoM, setting a record high for the same period in the company’s history
Altus Enhances Customer Support in the North
09/05/2024 | Altus GroupAltus Group, a leading capital equipment distributor for the electronics industry in the UK and Ireland, is pleased to announce the addition of a Senior Sales Manager to its growing team.
NVIDIA’s Data Center Business Fuels Explosive Growth in FY2Q25 Revenue; H200 Set to Dominate AI Server Market from 2H24
09/04/2024 | TrendForceTrendForce’s latest findings show that NVIDIA’s data center business is driving a remarkable surge in the company’s revenue, which more than doubled in the second quarter of its 2025 fiscal year to reach an impressive US$30 billion.