SigmaTron International Inc. (SGMA) stock gained a further 15.53% in the after-hours, following the company’s Q2 fiscal 2022, earnings on Friday. Earlier in the regular session, the stock was up by 84.67%, closing at $14.94%. After the earnings were announced, the stock continued gaining to reach $17.26 at an after-hours’ volume of 8.31M.
The electronic manufacturer SigmaTron International Inc. (SGMA) has a current market capitalization of $64.01 million. Moreover, the company has 4.28 million shares outstanding in the market.
SGMA Stock Movement
On December 10, the stock reached its new 52-week high of $15.15 during the regular session, breaking its previous high. Moreover, the stock traded at a heft volume of 56.39 million shares, which was 4,902% of the average. Furthermore, SGMA continued to gain after the earnings news to reach another new high of $17.26 in the after hours.
Hence, the huge strides upwards in the stock made its previous week’s gain reach 104.38%. In addition, the stock has added 59.96% last month and 219.23% year to date.
Q2 Fiscal 20212
On December 10, SigmaTron International Inc. declared its financial results for the Q2 fiscal 2022, which ended on October 31, 2021. As per the Q2 fiscal 2022, SGMA reported revenue of $100.2million, against $69.6 million in the year-ago quarter. This shows an increase of 44% or $30.6 million year-over-year.
SGMA was $3,150,205 in the second quarter of fiscal 2022. This compares to a net income of $626,858 in the year-ago quarter. Consequently, the earnings per basic share were $0.73 and the diluted share were $0.69 in the second quarter of fiscal 2022. Comparatively, the basic and diluted earnings per share were $0.15 in Q2 of last year.
SGMA’s Wagz Acquisition
In the earnings report, the company also provided updates on the previously announced and pending Wagz acquisition. Gary R. Fairhead, the CEO and Chairman of the Board of SGMA said that the transaction is expected to close by the end of this year. Further, SGMA had also amended its agreement and merger plan with Wagz on December 07. As per the amendment, the number of shares given to Wagz in the merger has been reduced.
Moreover, the chairman also shared the company’s excitement about the opportunities in the Pet Tech market. Wagz provides technology-based protective solutions to pet parents i.e. GPS-based protective collars.
