SigmaTron International, Inc. (NASDAQ: SGMA), an electronic manufacturing services company, today reported revenues and earnings for the fiscal quarter ended July 31, 2021.
Revenues increased to $85.7 million in the first quarter of fiscal 2022 from $60.5 million for the same quarter in the prior year. Net income for the first quarter ended July 31, 2021, was $8,796,716 compared to a net loss of $900,666 for the same period in the prior year. Basic and diluted earnings per share for the quarter ended July 31, 2021, were $2.06 and $2.02, respectively, compared to basic and diluted loss per share of $0.21 each for the same quarter ended July 31, 2020.
Commenting on SigmaTron's first quarter, fiscal 2022 results, Gary R. Fairhead, President, Chief Executive Officer and Chairman of the Board, said, "I am pleased to report an excellent quarter to start fiscal 2022. Our pre-tax profits were $9,553,661 and included the forgiveness of our Small Business Administration Paycheck Protection Program Loan ("PPP Loan") in the amount of $6,282,973 during the quarter, which was announced on July 13, 2021. Excluding the forgiveness of the PPP Loan, we recorded pre-tax profits of $3,270,688 and revenue of $85.7 million. The quarterly operating results and revenues are a record for SigmaTron.