Sigmatron Intl Stock Price, News & Analysis

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.

SigmaTron International, Inc. (SGMA) reported fiscal year 2021 revenues of $277.7 million, slightly down from $281.0 million in fiscal 2020. However, net income surged to $1.54 million compared to $443,102 the previous year. Fourth-quarter revenues increased to $76.0 million with a net income of $1.57 million, rebounding from a net loss of $362,067 in the same quarter of 2020. Despite facing challenges from electronic component shortages and non-recurring expenses, SigmaTron announced a strong backlog and new customer opportunities for fiscal 2022.

SigmaTron International, Inc. (SGMA) has entered a definitive Agreement to merge with Wagz, Inc., a pet technology company. SigmaTron will issue 2,443,870 shares, allowing Wagz shareholders to own approximately 28% of SigmaTron. The merger is expected to close by September 2021, subject to certain conditions. SigmaTron plans to leverage Wagz's IoT capabilities to enhance its product offerings, particularly with the upcoming Wagz Freedom Smart Dog Collar. Market analysts continue to predict growth in the pet technology sector, driven by increased pet ownership due to the pandemic.

SigmaTron International, Inc. (NASDAQ: SGMA) announced the full forgiveness of its PPP loan amounting to approximately $6.3 million, received under the CARES Act on April 23, 2020. The notification came on July 9, 2021, and the loan's forgiveness will be reflected in the Company's financial statements for the first quarter of fiscal year 2022. CEO Gary Fairhead expressed gratitude to the government for the program's support during the pandemic.

SigmaTron International, Inc. (NASDAQ: SGMA) reported a revenue increase to $71.5 million for Q3 FY2021, up from $67.4 million year-over-year. The company achieved a net income of $249,268, reversing a $217,039 loss from the previous year. Basic and diluted EPS were each $0.06, compared to a loss of $0.05 in Q3 FY2020. However, revenues fell to $201.7 million for the nine months ended January 31, 2021, down from $216.3 million in the prior year, resulting in a net loss of $24,540. The company faces challenges due to supply chain volatility and recent winter storms impacting operations.

SigmaTron International, Inc. (NASDAQ: SGMA) reported Q2 fiscal 2021 revenues of $69.6 million, down from $74.9 million year-over-year. Net income fell to $626,858 from $661,183. For the first six months, revenues decreased to $130.1 million from $148.9 million, leading to a net loss of $273,808 versus a profit of $1,022,208 last year. Amid these downturns, SigmaTron noted a strong backlog, indicating future revenue potential, while challenges related to supply chain and COVID expenses persist.

SigmaTron International (SGMA) reported a revenue decline to $60.5 million for Q1 FY2021 from $74.0 million the previous year, marking a significant downturn. The company faced a net loss of $900,666, or $0.21 loss per share, compared to a gain of $361,025 in the same quarter last year. This setback was attributed to COVID-19 disruptions in manufacturing, particularly in Mexico. Despite these challenges, management noted a strong backlog for Q2 and expressed optimism about ongoing customer acquisitions and a potential merger with Wagz, Inc.

SigmaTron International (NASDAQ: SGMA) has executed a Letter of Intent (LOI) with Wagz, a Pet Tech company, for a proposed business combination. This transaction would involve SigmaTron issuing approximately 2,270,000 new shares, resulting in Wagz stockholders owning about one-third of the combined entity. The deal, expected to close by August 2020, depends on certain conditions, including raising $7.5M in additional capital. The pet tech market is projected to reach $24B by 2024, and this merger aims to leverage synergies for growth and profitability.