SigmaTron International Inc (SGMA) Reports Q2 2023 Net Income of $262,099 and $98.1M in Revenue

SigmaTron International Inc (SGMA), a leading provider of electronic m anufacturing services, has released its condensed consolidated financial results for the second quarter ended July 31, 2023. The report reveals both net income and revenue figures for the period.

Net Income and Revenue

In the second quarter of 2023, SigmaTron International reported net sales of $98,130,356, representing a slight decrease compared to the same period in 2022 when they reported $105,189,979 in net sales. The company's gross profit for Q2 2023 stood at $9,651,220, compared to $11,577,220 in the prior-year period. This decline in gross profit can be attributed to increased cost of products sold, which amounted to $88,479,136 in Q2 2023, as opposed to $93,612,759 in Q2 2022.

Operating Income and Other Expenses