SigmaTron International hits record low after Q2 loss

SigmaTron International

12/12/2018 17:23

** Shares of electronic manufacturing service provider
 SGMA.O  touch a record low after falling as much as 13.2 pct to
$2.76
    ** Posts a Q2 loss of 17 cents/shr vs an EPS of 17 cents a
year ago 
    ** "Unfortunately, our net income number was negatively
impacted due to a tax valuation allowance related to operations
in Vietnam and China" - SigmaTron CEO said in a statement
    ** Co's income tax expenses nearly doubled to $1.1 mln in
the qtr  urn:newsml:reuters.com:*:nGNX2D86xN
    ** There are signs of tariffs starting to affect projected
rev into 2019, and begin Q3 qtr facing major challenges as a
result of the trade dispute between the U.S. and China - SGMA
    ** Including Wednesday's losses, stock down ~72 pct this
year with Dec. being on track to become the 2nd worst month in
the stock's history

 (Reporting by Vibhuti Sharma in Bengaluru)
 ((RM: vibhuti.sharma.thomsonreuters.com@reuters.net))