SigmaTron Q3 Profit Rises

(RTTNews) - SigmaTron International Inc. (SGMA), Wednesday reported third-quarter net income of $744 thousand or $0.18 per share, up from $217 thousand or $0.06 last year.

Revenues increased to $54.2 million from $46.8 million a year ago.

Commenting on the results, Chief Executive Gary Fairhead said, "While SigmaTron posted a positive diluted earnings per share for the third fiscal quarter, we were disappointed with our overall results. The positive earnings were entirely attributable to changes in deferred tax items as a result of new legislation enacted in Mexico. My disappointment is reflected in the fact that we posted a pre-tax loss of $130,182 for the third quarter."

Shares of SigmaTron are currently trading down 21% at $8.44 on the Nasdaq.