SigmaTron Announces Estimated Second Quarter Results|
ELK GROVE, Ill.--(BUSINESS WIRE)--Nov. 19, 1997--SigmaTron International, Inc. (NASDAQ: SGMA - news) said today that it currently estimates revenues for the second quarter ended October 31, 1997 in the range of $25.0 to 26.0 million. This compares to revenues of $29.7 million for the second quarter of fiscal 1997, representing a decrease in revenues from 12 to 16 percent. The quarter is expected to be profitable but earnings are expected to be significantly lower than the same period a year ago, which posted earnings of 45 cents per share. Final results for the quarter ended October 31, 1997 are expected to be released on or about December 4, 1997.
''The decrease in revenue for the second quarter of fiscal 1998 is due to softer demand from our customers compared to a year ago. During the second quarter we continued to build the infrastructure required to support our anticipated growth,'' said Gary R. Fairhead, president and chief executive officer of SigmaTron. ''We have increased capacity at our manufacturing facilities, added machinery and equipment and personnel to position the Company for the future, all of which has negatively impacted our results during the second quarter.''