For Further Information Contact:
SigmaTron International, Inc.
James J. Reiman
1-800-700-9095
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||
| Three Months | Three Months | Nine Months | Nine Months | |||||||||||||
| Ended | Ended | Ended | Ended | |||||||||||||
| January 31, | January 31, | January 31, | January 31, | |||||||||||||
| 2022 | 2020 | 2021 | 2020 | |||||||||||||
| Net sales | $ | 93,682,451 | $ | 71,531,348 | $ | 279,638,499 | $ | 201,674,728 | ||||||||
| Cost of products sold | $ | 81,257,305 | $ | 65,618,649 | $ | 245,853,289 | $ | 184,730,296 | ||||||||
| Gross profit | $ | 12,425,146 | $ | 5,912,699 | $ | 33,785,210 | $ | 16,944,432 | ||||||||
| Selling and administrative expenses | $ | 7,758,582 | $ | 5,212,629 | $ | 20,675,353 | $ | 15,693,893 | ||||||||
| Impairment of notes receivable and investment | $ | 6,300,235 | $ | - | $ | 6,300,235 | $ | - | ||||||||
| Operating (loss) income | $ | (1,633,671 | ) | $ | 700,070 | $ | 6,809,622 | $ | 1,250,539 | |||||||
| Gain on extinguishment of long-term debt | - | - | (6,282,973 | ) | - | |||||||||||
| Other expense | $ | 346,218 | $ | 476,712 | $ | 855,106 | $ | 1,078,880 | ||||||||
| (Loss) income before income tax | $ | (1,979,889 | ) | $ | 223,358 | $ | 12,237,489 | $ | 171,659 | |||||||
| Income tax expense (benefit) | $ | 744,408 | $ | (25,910 | ) | $ | 3,014,865 | $ | 196,199 | |||||||
| Net (loss) income | $ | (2,724,297 | ) | $ | 249,268 | $ | 9,222,624 | $ | (24,540 | ) | ||||||
| Net (loss) income per common share - basic | $ | (0.58 | ) | $ | 0.06 | $ | 2.08 | $ | (0.01 | ) | ||||||
| Net (loss) income per common share - assuming dilution | $ | (0.58 | ) | $ | 0.06 | $ | 1.97 | $ | (0.01 | ) | ||||||
| Weighted average number of common equivalent shares outstanding - assuming dilution | 4,729,619 | 4,310,290 | 4,682,598 | 4,255,334 | ||||||||||||
|
CONDENSED CONSOLIDATED BALANCE SHEETS
| ||||||||||||||||
| January 31, | April 30, | |||||||||||||||
| 2022 | 2021 | |||||||||||||||
| Assets: | ||||||||||||||||
| Current assets | $ | 205,315,800 | $ | 141,553,863 | ||||||||||||
| Machinery and equipment-net | 36,403,379 | 34,186,918 | ||||||||||||||
| Deferred income taxes | 677,699 | 1,647,143 | ||||||||||||||
| Intangibles | 12,625,429 | 1,996,749 | ||||||||||||||
| Goodwill | 11,990,361 | - | ||||||||||||||
| Other assets | 12,626,018 | 14,788,734 | ||||||||||||||
| Total assets | $ | 279,638,686 | $ | 194,173,407 | ||||||||||||
| Liabilities and stockholders' equity: | ||||||||||||||||
| Current liabilities | $ | 127,526,794 | $ | 85,315,249 | ||||||||||||
| Long-term obligations | 65,012,823 | 48,309,097 | ||||||||||||||
| Stockholders' equity | 87,099,069 | 60,549,061 | ||||||||||||||
| Total liabilities and stockholders' equity | $ | 279,638,686 | $ | 194,173,407 | ||||||||||||
