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SigmaTron International fiscal Q3 profit falls YOY

SigmaTron International Inc. said its normalized net income for the fiscal third quarter ended Jan. 31 came to 6 cents per share, a decline of 34.6% from 9 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $236,000, a decline of 32.8% from $351,330 in the prior-year period.

The normalized profit margin fell to 0.4% from 0.7% in the year-earlier period.

Total revenue increased 10.2% on an annual basis to $59.2 million from $53.7 million, and total operating expenses climbed 10.8% from the prior-year period to $58.6 million from $52.9 million.

Reported net income declined 63.3% year over year to $211,470, or 5 cents per share, from $576,240, or 14 cents per share.