$SGMA
SIGMATRON INTERNATIONAL INC

2022 Q3 Form 10-Q Financial Statement

#000091535822000013 Filed on September 13, 2022

View on sec.gov

Income Statement

Concept 2022 Q3
Revenue $0.00
YoY Change
Cost Of Revenue $93.89M
YoY Change 23.28%
Gross Profit $11.69M
YoY Change 21.94%
Gross Profit Margin
Selling, General & Admin $8.861M
YoY Change 45.0%
% of Gross Profit 75.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.706M
YoY Change 18.21%
% of Gross Profit 14.6%
Operating Expenses $8.861M
YoY Change 45.0%
Operating Profit $2.824M
YoY Change -18.66%
Interest Expense $953.6K
YoY Change 300.8%
% of Operating Profit 33.77%
Other Income/Expense, Net $35.82K
YoY Change -3.57%
Pretax Income $1.906M
YoY Change -80.05%
Income Tax $529.4K
% Of Pretax Income 27.77%
Net Earnings $1.377M
YoY Change -84.35%
Net Earnings / Revenue
Basic Earnings Per Share $0.23
Diluted Earnings Per Share $0.22
COMMON SHARES
Basic Shares Outstanding 6.071M
Diluted Shares Outstanding 6.191M

Balance Sheet

Concept 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.446M
YoY Change 39.53%
Cash & Equivalents $4.446M
Short-Term Investments
Other Short-Term Assets $2.927M
YoY Change 54.61%
Inventory $176.3M
Prepaid Expenses
Receivables $52.11M
Other Receivables $5.660M
Total Short-Term Assets $242.8M
YoY Change 47.38%
LONG-TERM ASSETS
Property, Plant & Equipment $35.68M
YoY Change 1.01%
Goodwill $13.32M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.175M
YoY Change -30.29%
Total Long-Term Assets $73.29M
YoY Change 38.63%
TOTAL ASSETS
Total Short-Term Assets $242.8M
Total Long-Term Assets $73.29M
Total Assets $316.1M
YoY Change 45.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $95.28M
YoY Change 23.35%
Accrued Expenses $3.175M
YoY Change 27.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $2.875M
YoY Change 34.04%
Total Short-Term Liabilities $129.6M
YoY Change 32.79%
LONG-TERM LIABILITIES
Long-Term Debt $84.54M
YoY Change 125.34%
Other Long-Term Liabilities $1.057M
YoY Change -29.22%
Total Long-Term Liabilities $96.62M
YoY Change 90.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $129.6M
Total Long-Term Liabilities $96.62M
Total Liabilities $226.2M
YoY Change 52.62%
SHAREHOLDERS EQUITY
Retained Earnings $48.00M
YoY Change 5.37%
Common Stock $41.86M
YoY Change 75.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $89.86M
YoY Change
Total Liabilities & Shareholders Equity $316.1M
YoY Change 45.25%

Cashflow Statement

Concept 2022 Q3
OPERATING ACTIVITIES
Net Income $1.377M
YoY Change -84.35%
Depreciation, Depletion And Amortization $1.706M
YoY Change 18.21%
Cash From Operating Activities -$18.13M
YoY Change -1236.75%
INVESTING ACTIVITIES
Capital Expenditures -$369.4K
YoY Change -87.27%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$369.4K
YoY Change -92.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 19.89M
YoY Change 598.66%
NET CHANGE
Cash From Operating Activities -18.13M
Cash From Investing Activities -369.4K
Cash From Financing Activities 19.89M
Net Change In Cash 1.392M
YoY Change -531.28%
FREE CASH FLOW
Cash From Operating Activities -$18.13M
Capital Expenditures -$369.4K
Free Cash Flow -$17.76M
YoY Change -494.92%

Facts In Submission

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SIGMATRON INTERNATIONAL, INC.
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40000000
CY2022Q3 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
123016860
CY2021Q3 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
93348538
CY2022Q3 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
135200692
CY2021Q3 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
89462832
CY2022Q3 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1290907
CY2021Q3 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
163188
CY2022Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19887738
CY2021Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2846560
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1391530
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-322649
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3054643
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3509229
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4446173
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3186580
CY2022Q3 us-gaap Interest Paid Net
InterestPaidNet
792971
CY2021Q3 us-gaap Interest Paid Net
InterestPaidNet
296405
CY2022Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
242633
CY2021Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
293707
CY2022Q3 sgma Purchase Of Property Plant And Equipment Financed Under Capital Leases
PurchaseOfPropertyPlantAndEquipmentFinancedUnderCapitalLeases
825826
CY2021Q3 sgma Purchase Of Property Plant And Equipment Financed Under Capital Leases
PurchaseOfPropertyPlantAndEquipmentFinancedUnderCapitalLeases
709877
CY2021Q3 sgma Gain On Extinguishment Of Long Term Debt
GainOnExtinguishmentOfLongTermDebt
6282973
CY2022Q3 us-gaap Nature Of Operations
NatureOfOperations
<span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 11pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;">Note A - Description of the Business</span><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 11pt;line-height: 108%;margin-bottom: .001pt;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-size: 11pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 11pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">SigmaTron International, Inc., its subsidiaries, foreign enterprises and international procurement office (collectively, the “Company”) operate in </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 11pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">two</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 11pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> reportable segments as an independent provider of electronic manufacturing services (“EMS”) and a provider of products to the Pet Tech market. The EMS segment includes printed circuit board assemblies, electro-mechanical subassemblies and completely assembled (box-build) electronic products. The Pet Tech reportable segment offers electronic products such as the Freedom Smart Dog Collar™, a wireless geo-mapped fence and wellness system, along with apparel and accessories. In connection with the production of assembled products, the EMS segment also provides services to its customers, including (1) automatic and manual assembly and testing of products; (2) material sourcing and procurement; (3) manufacturing and test engineering support; (4) design services; (5) warehousing and distribution services; (6) assistance in obtaining product approval from governmental and other regulatory bodies and (7) compliance reporting. The EMS segment produces the Freedom Smart Dog Collar™ sold by the Pet Tech segment. </span>
CY2022Q3 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2022Q3 us-gaap Basis Of Accounting
BasisOfAccounting
<span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 11pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;">Note B - Basis of Presentation</span><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 11pt;line-height: 108%;margin-bottom: .001pt;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-size: 11pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 11pt;line-height: 108%;margin-bottom: .001pt;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 11pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">The accompanying unaudited condensed consolidated financial statements of SigmaTron International, Inc. (“SigmaTron”), its wholly-owned subsidiaries, Standard Components de Mexico, S.A., AbleMex S.A. de C.V., Digital Appliance Controls de Mexico, S.A. de C.V., Spitfire Controls (Vietnam) Co. Ltd., Spitfire Controls (Cayman) Co. Ltd., and Wagz, Inc., wholly-owned foreign enterprises Suzhou SigmaTron Electronics Co. Ltd., and SigmaTron Electronic Technology Co., Ltd. (collectively, “SigmaTron China”), and its international procurement office, SigmaTron Taiwan (collectively, the “Company”), have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X.</span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 11pt;line-height: 108%;margin-bottom: .001pt;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-size: 11pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><h4 dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 11pt;line-height: 108%;margin-bottom: .001pt;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 11pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">Accordingly, the condensed consolidated financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three month period ended July 31, 2022 is not necessarily indicative of the results that may be expected for the year ending April 30, 2023. The condensed consolidated balance sheet at April 30, 2022, was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. For further information, refer to the condensed consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended April 30, 2022. </span></h4><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 12pt;line-height: 108%;margin-bottom: .001pt;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-size: 12pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><p dir="ltr" style="background: #FFFFFF;font-family: 'Times New Roman', 'serif';font-size: 11pt;line-height: 108%;margin-bottom: .001pt;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; color: #000000;font-size: 11pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 11pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span>
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.06
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.22
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.02
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
508519
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
513232
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
102000
CY2022Q3 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
94893
CY2021Q3 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
20035
CY2022Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
23589190
CY2022Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
22175641
CY2022Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
5494596
CY2022Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
5907766
CY2022Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
150281577
CY2022Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
140118156
CY2022Q3 us-gaap Inventory Gross
InventoryGross
179365363
CY2022Q2 us-gaap Inventory Gross
InventoryGross
168201563
CY2022Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
3059347
CY2022Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
3236347
CY2022Q3 us-gaap Inventory Net
InventoryNet
176306016
CY2022Q2 us-gaap Inventory Net
InventoryNet
164965216
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
1376675
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
8796716
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6058908
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4275410
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
132487
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
78502
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6191395
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4353912
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
1034531
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
225734
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
72643
CY2022Q3 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
1612427
CY2022Q2 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
401040
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
87411485
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
67090969
CY2022Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
2874505
CY2022Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
6991567
CY2022Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
84536980
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
60099402
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
4688378
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
4215810
CY2022Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1571973
CY2022Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1410675
CY2022Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
3116405
CY2022Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2805135
CY2022Q1 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2022-01-06
CY2022Q2 us-gaap Line Of Credit
LineOfCredit
438219
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
2340289
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
2098161
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
2930379
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
2811814
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
77019378
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
78850
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
132614
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
87411485
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
529400
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
756945
CY2022Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.2777
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0792
CY2022Q3 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
4463515
CY2022Q2 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
4543819
CY2022Q3 us-gaap Cumulative Earnings Deficit
CumulativeEarningsDeficit
11038000
CY2022Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
4543819
CY2021Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
594103
CY2022Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
63614
CY2022Q3 us-gaap Use Of Estimates
UseOfEstimates
<span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 11pt;font-style: italic;font-weight: normal;margin: 0;padding: 0;">Management Estimates and Uncertainties </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 11pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">- The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates made in preparing the consolidated financial statements include depreciation and </span><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 12pt;line-height: 108%;margin-bottom: .001pt;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-size: 12pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 11pt;line-height: 108%;margin-bottom: .001pt;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 11pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;">Note H - Significant Accounting Policies - Continued</span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 11pt;line-height: 108%;margin-bottom: .001pt;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-size: 11pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 11pt;line-height: 108%;margin-bottom: .001pt;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 11pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">amortization periods, the allowance for doubtful accounts, excess and obsolete reserves for inventory, deferred income, deferred taxes, </span><span style="white-space:pre-wrap; color: #000000;font-family: 'Times New Roman', 'serif';font-size: 11pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">valuation allowance for deferred taxes and valuation of goodwill and long-lived assets. Actual results could materially differ from these estimates.</span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 11pt;line-height: 108%;margin-bottom: .001pt;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-size: 11pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 11pt;line-height: 108%;margin-bottom: .001pt;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 11pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">The potential impact of future disruptions and continued economic uncertainty over COVID-19 may have a significant adverse impact on the timing of delivery of customer orders and the levels of future customer orders. It is possible that these potential adverse impacts may result in the recognition of material impairments of the Company’s long-lived assets or other related charges in future periods.</span></p>
CY2022Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
105572856
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
85739434
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
0
CY2022Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0
CY2022Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
4463515
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10190384
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10946764
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3583167
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3508864
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
7061053
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
7903898
CY2022Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
5852713
CY2022Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
5561243
CY2022Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1571973
CY2022Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1410675
CY2022Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
3116405
CY2022Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2805135
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
623811
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
591358
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
54815
CY2021Q3 us-gaap Variable Lease Cost
VariableLeaseCost
97354
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
2250
CY2021Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1800
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
571103
CY2021Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
66404
CY2022Q3 us-gaap Lease Cost
LeaseCost
1315593
CY2021Q3 us-gaap Lease Cost
LeaseCost
1351019
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P43M12D
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P52M27D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.032
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.031
CY2022Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P36M10D
CY2021Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P23M29D
CY2022Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.095
CY2021Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.082
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2750230
CY2022Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
1519665
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3155392
CY2022Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
1662035
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2492455
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
1441187
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2018560
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
773919
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
445298
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
60875
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
74382
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
133717
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
11070034
CY2022Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
5457681
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
425814
CY2022Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
769303
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
10644220
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
4688378
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
85739434
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
3471463
CY2021Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
6282973
CY2021Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
37141
CY2021Q3 us-gaap Interest Expense
InterestExpense
237916
CY2022Q3 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
63614
CY2021Q3 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
66404
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
86633
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
101667
CY2022Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
353258
CY2021Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
494730
CY2022Q3 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
825826
CY2021Q3 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
709877
CY2022Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
756380
CY2021Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
758523
CY2021 us-gaap Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
2443870
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
9553661
CY2021Q3 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
3611704
CY2021Q3 sgma Depreciation And Amortization Expense
DepreciationAndAmortizationExpense
1356277
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
87122
CY2021Q3 us-gaap Assets
Assets
217587993
CY2022Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
15650000
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3476284
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
12173716
CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
15650000
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3240522
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
12409478
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
705423
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
933898
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
926758
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
919751
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
912956
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
7774930
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
12173716
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
235762
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
87122
CY2022Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
105572856
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
2823817
CY2022Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
35816
CY2022Q3 us-gaap Interest Expense
InterestExpense
953558
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1906075
CY2022Q3 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
1195241
CY2022Q3 sgma Depreciation And Amortization Expense
DepreciationAndAmortizationExpense
1470433
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
235762
CY2022Q3 us-gaap Assets
Assets
316053246
CY2022Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
105572856
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
85739434
CY2022Q3 us-gaap Noncurrent Assets
NoncurrentAssets
45874831
CY2022Q2 us-gaap Noncurrent Assets
NoncurrentAssets
46919979

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