Sigmatron Intl Stock Price, News & Analysis

SigmaTron International reported a revenue increase of 31% to $93.7 million for the third quarter of fiscal 2022, compared to $71.5 million in the same quarter last year. However, the company faced a net loss of $2.7 million, largely attributed to a non-cash impairment charge of $6.3 million related to its acquisition of Wagz, Inc. For the nine months ended January 31, 2022, revenues rose 39% to $279.6 million, with a net income of $9.2 million.

Despite ongoing challenges in the supply chain and geopolitical tensions, SigmaTron remains optimistic about future growth opportunities.

On January 3, 2022, SigmaTron International (NASDAQ: SGMA) announced the successful closure of its merger with Wagz, Inc., effective December 31, 2021. Wagz will operate as a wholly-owned subsidiary under SigmaTron, with its shareholders receiving 1,546,592 newly issued shares of SigmaTron common stock. Both companies aim to leverage their synergies in design, manufacturing, and distribution to capitalize on the growing Pet Tech market. The combined advantages are expected to enhance overall margins and market competitiveness.

SigmaTron International (SGMA) reported impressive financial results for the fiscal quarter ending October 31, 2021, with revenues rising 44% to $100.2 million compared to the previous year. Net income surged to $3.15 million from $626,858, and earnings per share (EPS) reached $0.73 for the quarter. For the six-month period, revenues increased 43% to $186 million, and net income was nearly $12 million, a significant turnaround from a net loss in the prior year. However, challenges persist in the electronic component marketplace, impacting production and supply chain reliability.

On November 9, 2021, SigmaTron International, Inc. (NASDAQ: SGMA) announced the appointment of James J. Reiman as Chief Financial Officer, succeeding Linda K. Frauendorfer after her retirement following a 30-year tenure. Reiman brings substantial experience in senior finance roles and international business. CEO Gary R. Fairhead expressed confidence in Reiman's capabilities to support the company's growth. SigmaTron specializes in electronic manufacturing services and operates facilities across the U.S., Mexico, China, and Vietnam.

SigmaTron International, Inc. (NASDAQ: SGMA) reconvened its Special Meeting of stockholders on October 22, 2021, after earlier postponement due to insufficient quorum. A quorum was achieved with proxies representing 54.62% of outstanding shares. Both key proposals received strong support: 87.3% voted in favor of issuing shares to Wagz as merger consideration, and 83.4% supported the 2021 Employee Stock Option Plan. The closing of the Wagz transaction remains pending, expected by year-end, subject to all conditions in the merger agreement being satisfied.

SigmaTron International (NASDAQ: SGMA) announced a leadership transition on October 13, 2021. Gary R. Fairhead stepped down as President but remains Chairman and CEO. The Board appointed James E. Barnes, previously Executive VP, Operations, as the new President. Fairhead emphasized this move aligns with the company's strategic vision, particularly in relation to the forthcoming Wagz transaction. Barnes expressed enthusiasm over the EMS market opportunities. SigmaTron, headquartered in Elk Grove Village, Illinois, specializes in electronic manufacturing services across multiple global locations.

SigmaTron International, Inc. (NASDAQ: SGMA) announced the adjournment of its special stockholders' meeting due to insufficient votes for a quorum. Originally scheduled for September 29, 2021, the meeting will reconvene on October 22, 2021, at 10:00 a.m. CDT to vote on the proposals in the proxy statement filed on September 8, 2021. Stockholders of record as of August 24, 2021, are eligible to vote. The Company continues to solicit proxies and encourages all eligible stockholders to participate. No changes were made to the proposals.

SigmaTron International, Inc. (NASDAQ: SGMA) reported a strong fiscal Q1 2022, with revenues of $85.7 million, up from $60.5 million year-over-year. Net income reached $8.8 million, reversing a net loss of $900,666 in Q1 2021. Basic earnings per share were $2.06, compared to a loss of $0.21 in the prior year. The results highlight a record quarter driven by strong demand and a significant backlog, despite ongoing supply chain challenges. The company anticipates continued growth, especially in safety and renewable energy sectors, and is pursuing a merger with Wagz, Inc.

SigmaTron International (NASDAQ: SGMA) announced the planned retirement of CFO Linda K. Frauendorfer after 27 years in the role, effective October 31, 2021. Frauendorfer will assist in the transition until her successor is appointed and will remain a director thereafter. Her retirement marks the end of a significant tenure that began in 1994. The company appreciates her contributions and is commencing the search for a new CFO immediately. SigmaTron, headquartered in Elk Grove Village, Illinois, specializes in electronic manufacturing services and operates multiple production facilities across North America and Asia.