Why Sigmatron International Shares Are Trading Higher Today

Sigmatron International Inc SGMA surged higher Friday after the company announced its first-quarter fiscal 2022 financial results.

Sigmatron reported quarterly earnings of $2.06 per share, which was up from a loss of 21 cents per share year over year. The company reported quarterly revenue of $$85.7 million, which was up from $60.5 million year over year.

Sigmatron cited potential headwinds from continuing challenges in the supply chain, but noted that it expects revenue to continue to grow. 

"On the customer side, several of our new customers have started to ramp up and we see our revenue growing with them going forward, especially in the safety and renewable energy markets," said Gary Fairhead, president and CEO of Sigmatron.

Sigmatron is an independent provider of electronic manufacturing services.

SGMA Price Action: Sigmatron made new 52-week highs in trading today.

The stock closed up 32.5% at $8.30 at time of publication.