SIGMATRON INTERNATIONAL INC

CIK:0000915358|SEC Filings

Consolidated Statements Of Operations - USD ($)	12 Months Ended
Consolidated Statements Of Operations - USD ($)	Apr. 30, 2025	Apr. 30, 2024
Condensed Consolidated Statements Of Operations [Abstract]
Net sales	$ 304,716,119	$ 373,883,821
Cost of products sold	277,410,159	340,357,503
Gross profit	27,305,960	33,526,318
Selling and administrative expenses	25,534,298	26,392,403
Operating income	1,771,662	7,133,915
Other income	7,582,017	466,704
Change in fair value of warrants	544,945
Interest expense	(13,841,606)	(10,362,038)
Loss before income taxes	(3,942,982)	(2,761,419)
Income tax (expense) benefit	(6,311,926)	275,262
Net loss	$ (10,254,908)	$ (2,486,157)
Basic loss per share	$ (1.63)	$ (0.41)
Diluted loss per share	$ (1.63)	$ (0.41)
Weighted-average shares of common stock outstanding
Basic	6,278,461	6,094,914
Diluted	6,278,461	6,094,914

Consolidated Statements Of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements Of Cash Flows - USD ($)	Apr. 30, 2025	Apr. 30, 2024
Cash flows from operating activities
Net loss	$ (10,254,908)	$ (2,486,157)
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation and amortization of property, machinery and equipment	5,641,297	5,939,172
Stock-based compensation	236,129	381,034
Restricted stock expense		76,749
Provision for credit losses	(24,629)
Provision for inventory obsolescence	628,703	582,185
Deferred income tax expense (benefit)	4,663,801	(1,791,308)
Amortization of intangible assets	324,707	331,842
Amortization of financing fees	3,122,206	589,403
Gain on the sale of building	(7,175,191)	(439,479)
Fair value adjustment of contingent warrants	947,805
Paid in kind interest	3,503,257
Loss from disposal or sale of machinery and equipment	13,247	44,270
Changes in operating assets and liabilities
Accounts receivable	(1,308,038)	14,240,833
Inventories	20,554,334	36,122,113
Prepaid expenses and other assets	2,443,120	(3,564,263)
Right-of-use assets	(3,409,589)	(237,878)
Refundable and prepaid income taxes	415,632	(936,667)
Income taxes payable	475,050	(117,156)
Trade accounts payable	(2,673,337)	(18,470,463)
Customer deposits	(4,116,762)	4,238,596
Deferred revenue	2,624,837	(4,952,135)
Operating lease liabilities	3,524,612	115,274
Accrued expenses and wages	(1,625,961)	(1,905,917)
Net cash provided by operating activities	18,530,322	27,760,048
Cash flows from investing activities
Purchases of machinery and equipment	(1,191,692)	(1,799,148)
Proceeds from insurance settlement		160,454
Proceeds from sale of building	8,292,098	1,755,806
Net cash provided by investing activities	7,100,406	117,112
Cash flows from financing activities
Proceeds from the exercise of common stock options		9,600
Proceeds under equipment note		2,356,575
Payments under finance lease	(2,214,127)	(1,981,813)
Payments under equipment notes	(1,588,012)	(1,237,739)
Payments under building notes payable	(53,557)	(50,571)
Proceeds under term loan agreement
Payments under term loan agreement	(1,000,000)	(2,330,000)
Borrowings under revolving line of credit	320,903,345	393,285,344
Payments under revolving line of credit	(336,593,062)	(415,821,324)
Payments of debt financing costs	(4,470,425)	(509,001)
Net cash used in financing activities	(25,015,838)	(26,278,929)
Change in cash and cash equivalents	614,890	1,598,231
Cash and cash equivalents at beginning of year	2,417,360	819,129
Cash and cash equivalents at end of year	3,032,250	2,417,360
Supplementary disclosures of cash flow information
Cash paid for interest	11,503,242	10,171,456
Cash paid for income taxes	1,501,434	2,404,670
Purchase of machinery and equipment financed under finance leases		3,223,950
Right-of-use assets obtained in exchange for operating lease liabilities	6,999,942	3,183,899
Financing of insurance policy	293,476	$ 348,681
Issuance of warrants	$ 770,253

Consolidated Balance Sheets - USD ($)	Apr. 30, 2025	Apr. 30, 2024
CURRENT ASSETS
Cash and cash equivalents	$ 3,032,250	$ 2,417,360
Accounts receivable, less allowance for credit losses of $34,837 and $59,466 at April 30, 2025 and April 30, 2024, respectively	33,376,652	32,043,985
Inventories, net	107,667,864	128,850,901
Prepaid expenses and other assets	1,817,611	1,886,701
Refundable and prepaid income taxes	1,300,740	1,716,372
VAT receivables	3,745,730	6,569,984
Other receivables	3,115,083	2,417,316
Total current assets	154,055,930	175,902,619
PROPERTY, MACHINERY AND EQUIPMENT, NET	27,708,226	33,755,078
Intangible assets, net	654,481	979,188
Deferred income taxes		4,432,210
Right-of-use assets	10,872,890	7,463,301
Other assets	1,307,512	1,261,579
Total other long-term assets	12,834,883	14,136,278
TOTAL ASSETS	194,599,039	223,793,975
CURRENT LIABILITIES
Trade accounts payable	47,452,669	50,593,099
Customer deposits	6,621,834	10,738,596
Accrued expenses	2,445,771	2,554,260
Accrued wages	5,537,300	6,746,466
Income taxes payable	1,510,160	897,847
Deferred revenue	5,735,899	3,111,062
Contingent warrants	947,805
Current portion of long-term debt	50,597,117	66,244,227
Current portion of finance lease obligations	1,742,412	2,214,127
Current portion of operating lease obligations	3,849,564	2,789,107
Total current liabilities	126,440,531	145,888,791
Long-term debt, less current portion	2,039,769	3,339,160
Finance lease obligations, less current portion	1,405,035	3,147,447
Operating lease obligations, less current portion	7,422,402	4,958,247
Income taxes payable	157,730	294,993
Deferred income taxes	231,591
Other long-term liabilities	78,254	93,084
Total long-term liabilities	11,334,781	11,832,931
Total liabilities	137,775,312	157,721,722
Commitment and contingencies (See Note R - Litigation)
STOCKHOLDERS’ EQUITY
Preferred stock, $0.01 par value; 500,000 shares authorized, none issued or outstanding
Common stock, $0.01 par value; 12,000,000 shares authorized, 6,119,288 issued and outstanding at April 30, 2025 and April 30, 2024	61,193	61,193
Capital in excess of par value	43,459,776	42,453,394
Retained earnings	13,302,758	23,557,666
Total stockholders' equity	56,823,727	66,072,253
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 194,599,039	$ 223,793,975