SigmaTron International, Inc. (SGMA), an independent provider of electronic manufacturing services (EMS), has surged 7.3% in premarket trading session. As a result, SGMA stock is trading at $16.04 at the time of the writing. On Friday, SGMA stock closed the day at $14.94 after a colossal rise of 84.67%. The increase could be attributed to the announcement of quarterly results for the second quarter of the fiscal year 2022.
SGMA Q2 2022 Operational Results
On Friday, SGMA released the operational results for the second quarter of the fiscal year 2022. The quarter ended on 31st October 2021. The company generated net sales of $100.2 million during the quarter against $69.6 million for the same period of 2020. The operating income generated by the company during the three months was $4.9 million against $1.3 million for the same period of 2020. The net income generated by the company during the three months was $3.1 million (or net income of $0.73 and $0.69 per basic and diluted share) against $0.62 million (or net income of $0.15 per basic and diluted share) against the same quarter of 2020.
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1HFY2022 Operational Results
SGMA also released the operational results for the first half of FY 2022, which ended 31st October. The company generated net sales of $185.9 million during the six months against $130.1 million for the same period of 2020. The operating income generated by the company during the six months was $8.4 million against $0.55 million for the same period of 2020. The net income generated by the company during the six months was $11.9 million (or net income of $2.78 and $2.69 per basic and diluted share) against the net loss of $0.27 million (or net loss of $0.06 per basic and diluted share) for the same six month period of 2020.
Gary R. Fairhead, Chief Executive Officer and Chairman of the Board of SGMA, while commenting on the results said that the record results were primarily driven by the strong and growing demand from the existing customers as well as from the new customers that have been added over the year. The company believes that it is well-positioned to grow as electronic products continue to be incorporated into more and more applications and products throughout the globe.
Future Outlook for SGMA
During the last three months, SGMA stock has surged more than 70%. The prime reason for that is the reliance upon innovation by the company. Analysts believe that the stock is well-positioned to reap the benefits of that innovative policy in future to come.