Sigmatron International reports Q1 EPS 4c vs 22c last year

Reports Q1 revenue $98.130 vs $105.19M last year. 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.