$SGMA
SIGMATRON INTERNATIONAL INC

2013 Q4 Form 10-Q Financial Statement

#000119312513472576 Filed on December 13, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2013 Q2
Revenue $56.58M $56.17M $51.32M
YoY Change 7.3% 17.92% 29.14%
Cost Of Revenue $50.58M $49.88M $45.63M
YoY Change 6.88% 16.2% 29.93%
Gross Profit $5.996M $6.288M $5.690M
YoY Change 10.97% 33.63% 23.16%
Gross Profit Margin 10.6% 11.2% 11.09%
Selling, General & Admin $4.840M $4.856M $4.630M
YoY Change 3.42% 4.08% 30.79%
% of Gross Profit 80.71% 77.21% 81.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.300M $1.172M $1.170M
YoY Change 18.18% -1.44% 13.59%
% of Gross Profit 21.68% 18.64% 20.56%
Operating Expenses $4.840M $4.856M $4.630M
YoY Change 3.42% 4.08% 30.42%
Operating Profit $1.156M $1.433M $1.060M
YoY Change 59.85% 3438.51% -0.93%
Interest Expense $236.1K $214.0K -$210.0K
YoY Change 13.17% 13.6% 5.0%
% of Operating Profit 20.42% 14.93% -19.81%
Other Income/Expense, Net $29.52K $21.45K $80.00K
YoY Change -457.64% 700.0%
Pretax Income $949.8K $1.240M $934.7K
YoY Change 87.51% -938.95% 5.4%
Income Tax $165.2K $272.9K $610.0K
% Of Pretax Income 17.39% 22.0% 65.26%
Net Earnings $784.7K $967.5K $320.0K
YoY Change 62.51% -1138.68% -50.72%
Net Earnings / Revenue 1.39% 1.72% 0.62%
Basic Earnings Per Share $0.20 $0.24 $0.08
Diluted Earnings Per Share $0.19 $0.24 $0.08
COMMON SHARES
Basic Shares Outstanding 3.961M shares 3.961M shares 3.938M shares
Diluted Shares Outstanding 4.038M shares 4.011M shares 4.028M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.100M $2.800M $4.600M
YoY Change -32.89% -49.09% -2.13%
Cash & Equivalents $5.077M $2.798M $4.608M
Short-Term Investments
Other Short-Term Assets $3.500M $3.200M $3.500M
YoY Change 16.67% -8.57% 16.67%
Inventory $50.49M $52.44M $50.64M
Prepaid Expenses
Receivables $18.88M $19.52M $19.42M
Other Receivables $400.0K $500.0K $800.0K
Total Short-Term Assets $78.32M $78.45M $78.94M
YoY Change -0.6% 2.15% 6.47%
LONG-TERM ASSETS
Property, Plant & Equipment $32.52M $32.29M $28.57M
YoY Change 27.04% 27.14% 17.21%
Goodwill $3.223M $3.223M $3.223M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $800.0K $800.0K $900.0K
YoY Change -11.11% 0.0% 80.0%
Total Long-Term Assets $42.28M $42.18M $38.65M
YoY Change 16.8% 17.48% 54.55%
TOTAL ASSETS
Total Short-Term Assets $78.32M $78.45M $78.94M
Total Long-Term Assets $42.28M $42.18M $38.65M
Total Assets $120.6M $120.6M $117.6M
YoY Change 4.87% 7.03% 18.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.50M $32.70M $31.30M
YoY Change 1.48% 32.39% 54.95%
Accrued Expenses $2.316M $2.556M $2.487M
YoY Change -56.3% -54.36% 145.6%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $151.0K $100.0K $100.0K
YoY Change -49.67% -66.67% -21.16%
Total Short-Term Liabilities $35.07M $39.57M $38.13M
YoY Change 6.29% 28.06% 55.21%
LONG-TERM LIABILITIES
Long-Term Debt $23.25M $21.31M $20.58M
YoY Change -2.32% -11.93% 13.2%
Other Long-Term Liabilities $484.9K $479.3K $487.2K
YoY Change -83.28% -83.47% 34.03%
Total Long-Term Liabilities $31.73M $28.07M $27.48M
YoY Change 18.85% 3.58% 16.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.07M $39.57M $38.13M
Total Long-Term Liabilities $31.73M $28.07M $27.48M
Total Liabilities $66.81M $67.64M $65.61M
YoY Change 5.71% 9.98% 36.32%
SHAREHOLDERS EQUITY
Retained Earnings $33.34M $32.55M $31.58M
YoY Change 1.59%
Common Stock $20.46M $20.44M $20.40M
YoY Change 2.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $53.80M $52.99M $51.98M
YoY Change
Total Liabilities & Shareholders Equity $120.6M $120.6M $117.6M
YoY Change 4.87% 7.03% 18.6%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2013 Q2
OPERATING ACTIVITIES
Net Income $784.7K $967.5K $320.0K
YoY Change 62.51% -1138.68% -50.72%
Depreciation, Depletion And Amortization $1.300M $1.172M $1.170M
YoY Change 18.18% -1.44% 13.59%
Cash From Operating Activities -$120.0K $2.375M $4.670M
YoY Change -102.53% -150.1% -10.88%
INVESTING ACTIVITIES
Capital Expenditures -$1.440M -$4.900M -$2.360M
YoY Change 13.39% 536.36% 381.63%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $20.00K
YoY Change -100.0%
Cash From Investing Activities -$1.440M -$4.900M -$2.340M
YoY Change 13.39% -1420.25% 377.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.840M 714.8K -2.000M
YoY Change -386.57% -86.13% -60.63%
NET CHANGE
Cash From Operating Activities -120.0K 2.375M 4.670M
Cash From Investing Activities -1.440M -4.900M -2.340M
Cash From Financing Activities 3.840M 714.8K -2.000M
Net Change In Cash 2.280M -1.810M 330.0K
YoY Change 6.54% -330.8% -200.0%
FREE CASH FLOW
Cash From Operating Activities -$120.0K $2.375M $4.670M
Capital Expenditures -$1.440M -$4.900M -$2.360M
Free Cash Flow $1.320M $7.275M $7.030M
YoY Change -78.07% -283.2% 22.69%

Facts In Submission

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dei Trading Symbol
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dei Entity Registrant Name
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SIGMATRON INTERNATIONAL INC
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dei Document Type
DocumentType
10-Q
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2013-10-31
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EarningsPerShareDiluted
0.43
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4028681 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
67449 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Description And Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationDescriptionAndTerms
"Eligible Holders" were (a) those current or former employees, including all officers, who hold Eligible Options as of the Expiration Time; and (b) all current or former directors of the Company who hold Eligible Options as of the Expiration Time
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P6M
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2262950
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <i>Management Estimates and Uncertainties</i> - The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (&#x201C;U.S. GAAP&#x201D;) 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 amortization periods, the allowance for doubtful accounts, reserves for inventory and valuation of long-lived assets. Actual results could materially differ from these estimates.</p> </div>
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3961232 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
7500 shares
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-228026
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1675
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
112743348
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
49998
us-gaap Interest Paid
InterestPaid
211843
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
6344654
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2190151
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-541183
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
155153
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-345915
us-gaap Gross Profit
GrossProfit
12284544
us-gaap Operating Income Loss
OperatingIncomeLoss
2589232
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
50973
us-gaap Net Income Loss
NetIncomeLoss
1752121
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-157306
us-gaap Cost Of Goods Sold
CostOfGoodsSold
100458804
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-37029
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1275000
us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
42182
us-gaap Restricted Stock Expense
RestrictedStockExpense
8599
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4550793
us-gaap Share Based Compensation
ShareBasedCompensation
54236
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
469089
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
300410
us-gaap Employee Service Share Based Compensation Cash Flow Effect Cash Used To Settle Awards
EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards
301500
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-3844814
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
9695312
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
438030
us-gaap Interest Expense
InterestExpense
450054
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-26371
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
52437
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2386867
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
1500000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
173724
us-gaap Sale Leaseback Transaction Net Proceeds
SaleLeasebackTransactionNetProceeds
2281354
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6344654
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
178920
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
47500
sgma Indefinite Lived Intangible Asset Useful Life
IndefiniteLivedIntangibleAssetUsefulLife
Indefinite
sgma Business Acquisition Purchase Price Allocation Goodwill Expected Tax Deductible Period
BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductiblePeriod
P15Y
sgma Product Warranty Period
ProductWarrantyPeriod
P90D
sgma Payments For Stock Options Exercised
PaymentsForStockOptionsExercised
300410
CY2012Q2 sgma Number Of Restricted Common Stock Which Will Vest On First Anniversary
NumberOfRestrictedCommonStockWhichWillVestOnFirstAnniversary
12500 shares
CY2012Q2 sgma Number Of Share Vested Upon Transaction Closing
NumberOfShareVestedUponTransactionClosing
12500 shares
CY2012Q2 sgma Number Of Restricted Common Stock Which Will Vest On Second Anniversary
NumberOfRestrictedCommonStockWhichWillVestOnSecondAnniversary
12500 shares
CY2012Q2 sgma Number Of Restricted Common Stock Which Will Vest On Third Anniversary
NumberOfRestrictedCommonStockWhichWillVestOnThirdAnniversary
12500 shares
CY2013 sgma Percentage Of Weighted Average Cost Of Capital For Discounting Expected Payments
PercentageOfWeightedAverageCostOfCapitalForDiscountingExpectedPayments
0.115 pure
CY2013 sgma Percentage For Discounting Trading Price For Calculating Value Of Restricted Stock
PercentageForDiscountingTradingPriceForCalculatingValueOfRestrictedStock
0.15 pure
CY2012Q3 sgma Relocation Expenses
RelocationExpenses
424000
CY2012Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2012Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
CY2012Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4002264 shares
CY2012Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
71862 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2012Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3930402 shares
CY2012Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
52729395
CY2012Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
506545
CY2012Q4 us-gaap Gross Profit
GrossProfit
5403170
CY2012Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
723415
CY2012Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-8255
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
482834
CY2012Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
47326225
CY2012Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4679755
CY2012Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
23711
CY2012Q4 us-gaap Interest Expense
InterestExpense
208615
CY2012Q4 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
32160
CY2013Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2013Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.19
CY2013Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4037627 shares
CY2013Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
76395 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3961232 shares
CY2013Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
56577287
CY2013Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
949811
CY2013Q4 us-gaap Gross Profit
GrossProfit
5996136
CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
1156382
CY2013Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
29523
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
784654
CY2013Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
50581151
CY2013Q4 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
CY2013Q4 us-gaap Restricted Stock Expense
RestrictedStockExpense
6800
CY2013Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4839754
CY2013Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
165157
CY2013Q4 us-gaap Interest Expense
InterestExpense
236094
CY2013Q4 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
18185

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