Sigmatron International reports Q1 EPS (54c) vs 4c last year

Reports Q1 revenue $84.78M vs $98.13M last year. Commenting on SigmaTron’s first quarter fiscal 2025 results, Gary Fairhead, Chief Executive Officer and Chairman of the Board, said, “The softness that we have seen in our revenue has continued as expected and disclosed in our press release dated September 3, 2024. As we stated, the softness has continued through the first quarter of fiscal 2025 and our customers continued to indicate that they believe activity will start to increase in the fourth quarter of calendar 2024. As you can see from the financial statements, revenue is down 14.4% year over year for the first quarter. However, sequentially, the first quarter of fiscal 2025 was up 4.4% over the fourth quarter of fiscal 2024. We hope that’s the beginning of the trend that we have been told to expect. We have continued to react to these market conditions as we have been throughout this period by reductions in overhead and costs coupled with reduced manufacturing schedules. We have already done another reduction in August and we will continue to evaluate the situation as we finish calendar 2024.