ELK GROVE VILLAGE, Ill., Sept. 12, 2022 (GLOBE NEWSWIRE) — SigmaTron International, Inc. (NASDAQ: SGMA), an electronic manufacturing services company, today reported revenues and earnings for the fiscal quarter ended July 31, 2022.
Revenues increased $19.8 million, or 23 percent, to $105.5 million in the first quarter of fiscal 2023 compared to $85.7 million for the same quarter in the prior year. Net income for the first quarter ended July 31, 2022, was $1,376,675 compared to a net income of $8,796,716 (including $6,282,973 from the forgiveness of the PPP loan) for the same quarter in the prior year. Basic and diluted income per share for the quarter ended July 31, 2022, were $0.23 and $0.22, respectively, compared to basic and diluted income per share of $2.06 and $2.02, respectively, for the same quarter ended July 31, 2021.
Commenting on SigmaTron’s first quarter, fiscal 2023 results, Gary R. Fairhead, Chief Executive Officer, and Chairman of the Board, said, “I’m pleased to report a solid quarter for the beginning of fiscal 2023. Our pre-tax profit was $1,906,075, which included an expected pre-tax loss of $2,223,561 for Wagz, our pet tech IoT start-up. Comparisons between the first quarter of fiscal 2022 and the first quarter of fiscal 2023 are difficult. The pre-tax profit for the first quarter of fiscal 2022 was $9,553,661, which included a one-time gain from the forgiveness of the PPP loan of $6,282,973 and was before SigmaTron acquired Wagz. This…
