SigmaTron reports Q2 financial results

Revenues increased to $39.9 million for the second quarter fiscal 2012 from $38.2 million for the same quarter in the prior year. Net income decreased to $158,267 in the fiscal 2012 period compared to $586,050 for the same period in the prior year. For the six months ended October 31, 2011, revenues increased to $78.8 million compared to $76.3 million for the same period ended October 31, 2010. Net income for the same period in fiscal 2012 was $399,228, compared to $1,444,039 for the same period in the prior year. Commenting on SigmaTron's second quarter and six month results, Gary R. Fairhead, President and Chief Executive Officer, said, "Given the continuing margin pressures in our industry, I am pleased to report that SigmaTron remains profitable for the second quarter of fiscal 2012. As I have been reporting for some time, we are experiencing level revenue with pricing pressures from both our customers and vendors. I believe that this is generally a product of what we see as a stagnant general economy, and I currently see this trend continuing for the balance of our fiscal year. "While I am not optimistic for the balance of fiscal 2012, I do believe that we have managed this difficult period well given the margin pressures, and I continue to believe that when the general economy does pick up we will be well positioned to handle the growth and grow our profits."