Sigmatron International, Inc. Reports First Quarter Financial Results for Fiscal 2014

Sigmatron International, Inc. Reports First Quarter Financial Results for
Fiscal 2014

ELK GROVE VILLAGE, Ill., Sept. 11, 2013 (GLOBE NEWSWIRE) -- SigmaTron
International, Inc.(Nasdaq:SGMA), an electronic manufacturing services
company, today reported revenues and earnings for the fiscal quarter ended
July 31, 2013.

Revenues increased to $56.2 million in the first quarter of fiscal 2014 from
$47.6 million for the same quarter in the prior year. Net income of $967,464
was recorded for the period ended July 31, 2013 compared to a net loss of
$93,144 for the same period in the prior year. Basic and diluted earnings per
share for the quarter ended July 31, 2013, were each $0.24, compared to basic
and diluted loss per share of $0.02 for the same quarter ended July 31, 2012.

Commenting on SigmaTron's first quarter fiscal 2014 results, Gary R. Fairhead,
President, Chief Executive Officer and Chairman of the Board, said, "The first
quarter of fiscal 2014 was an excellent quarter for the Company, with fully
diluted earnings per share the strongest since the fourth quarter of fiscal
2010. Comparisons to the first quarter of fiscal 2013 are difficult, as one
third of the way through that quarter we acquired Spitfire Control, Inc. and
had significant one-time expenses during the quarter related to the
acquisition as well as the relocation of our Tijuana facility. A comparison to
the fourth quarter of fiscal 2013, which was our best quarter in that fiscal
year, shows revenue was up sequentially 9.4% and fully diluted earnings per
share up 200%.

"During the quarter we saw increased revenue from existing customers and the
launch of several new programs that had previously been delayed. We saw
improved performance from the two plants we acquired in 2013 and steady
performance from our other operations. All of these factors combined to
produce this strong quarter.

"With that said, it was reported by the U.S. Census Bureau in the last week of
August that manufactured durable goods fell over 7% in July and we have seen
some indication of a slowdown at the beginning of our second
quarter.Accordingly, we continue to anticipate an overall sluggish yet
volatile economy without sustained growth.If the signs change, we will be in
a position to respond quickly.

"Finally, while the economy remains a concern, we continue to work on many new
opportunities for the future, and we are quoting multiple projects that will
allow us to utilize the engineering strength that came with the Spitfire
acquisition.For those reasons we believe the Company will continue to move
forward as we battle the general economy, the increased costs of doing
business and the margin pressures we continue to experience."

Headquartered in Elk Grove Village, IL, SigmaTron International, Inc. is an
electronic manufacturing services company that provides printed circuit board
assemblies and completely assembled electronic products.SigmaTron
International, Inc. operates manufacturing facilities in Elk Grove Village,
Illinois; Acuna, Chihuahua, and Tijuana Mexico; Union City, California;
Suzhou, China, and Ho Chi Minh City, Vietnam.SigmaTron International, Inc.
maintains engineering and materials sourcing offices in Elgin, Illinois and
Taipei, Taiwan.

Note:This press release contains forward-looking statements.Words such as
"continue," "anticipate," "will," "expect," "believe," "plan," and similar
expressions identify forward-looking statements.These forward-looking
statements are based on the current expectations of the Company.Because these
forward-looking statements involve risks and uncertainties, the Company's
plans, actions and actual results could differ materially.Such statements
should be evaluated in the context of the risks and uncertainties inherent in
the Company's business including, but not necessarily limited to, the
Company's continued dependence on certain significant customers; the continued
market acceptance of products and services offered by the Company and its
customers; pricing pressures from our customers, suppliers and the market; the
activities of competitors, some of which may have greater financial or other
resources than the Company; the variability of our operating results; the
results of long-lived assets and goodwill impairment testing; the variability
of our customers' requirements; the availability and cost of necessary
components and materials; the ability of the Company and our customers to keep
current with technological changes within our industries; regulatory
compliance, including conflict minerals; the continued availability and
sufficiency of our credit arrangements; changes in U.S., Mexican, Chinese,
Vietnamese or Taiwanese regulations affecting the Company's business; the
turmoil in the global economy and financial markets; the stability of the
U.S., Mexican, Chinese, Vietnamese and Taiwanese economic, labor and political
systems and conditions; currency exchange fluctuations; and the ability of the
Company to manage its growth, including its integration of the Spitfire
operation acquired in May 2012.These and other factors which may affect the
Company's future business and results of operations are identified throughout
the Company's Annual Report on Form 10-K and as risk factors and may be
detailed from time to time in the Company's filings with the Securities and
Exchange Commission.These statements speak as of the date of such filings,
and the Company undertakes no obligation to update such statements in light of
future events or otherwise unless otherwise required by law.

                        Financial tables to follow...

CONDENSED CONSOLIDATED STATEMENTS OF INCOME                       
                                                                
                                                                
                                                    Three Months Three Months
                                                    Ended        Ended
                                                    July 31,    July 31,
                                                    2013         2012
                                                                
Net sales                                            $56,166,061  $47,629,229
                                                                
Cost of products sold                                49,877,653   42,923,331
                                                                
Gross profit                                         6,288,408    4,705,898
                                                                
Selling and administrative expenses                  4,855,558    4,665,405
                                                                
Operating income                                    1,432,850    40,493
                                                                
Other expense                                       192,511      188,337
                                                                
Income (loss) from operations before income tax      1,240,339    (147,844)
                                                                
Income tax expense (benefit)                        272,875      (54,700)
                                                                
Net income (loss)                                    $967,464     ($93,144)
                                                                
                                                                
Net income (loss) per common share --basic          $0.24        ($0.02)
                                                                
Net income (loss) per common share --assuming       $0.24        ($0.02)
dilution
                                                                
                                                                
Weighted average number of common equivalentshares  4,011,001    3,922,478
outstanding - assuming dilution
                                                                
                                                                
                                                                
CONDENSED CONSOLIDATED BALANCE SHEETS                            
                                                                
                                                    July 31,     April 30,
                                                    2013         2013
                                                                
Assets:                                                          
                                                                
Current assets                                       $78,450,371  $78,939,507
                                                                
Machinery and equipment-net                          32,293,609   28,567,052
                                                                
Intangibles                                          5,862,188    5,949,434
Goodwill                                             3,222,899   3,222,899
Other assets                                         797,045      910,025
                                                                
Total assets                                         $120,626,112 $117,588,917
                                                                
Liabilities and stockholders' equity:                            
                                                                
Current liabilities                                  $39,569,081  $38,129,159
                                                                
Long-term obligations                                28,071,308   27,476,027
                                                                
Stockholders' equity                                 52,985,723   51,983,731
                                                                
Total liabilities and stockholders' equity           $120,626,112 $117,588,917

CONTACT: For Further Information Contact:
         SigmaTron International, Inc.
         Linda K. Frauendorfer
         1-800-700-9095