infosonics corp (IFON) Key Developments
Infosonics Corp. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
Nov 14 14
Infosonics Corp. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net sales were $8,138,000 compared to $9,867,000 for the same period a year ago. Operating loss was $728,000 compared to operating profit of $35,000 for the same period a year ago. Loss before provision for income taxes was $633,000 compared to income before provision for income taxes of $37,000 for the same period a year ago. Net loss was $633,000 or $0.04 per basic and diluted share compared to net income of $34,000 or $0 per basic and diluted share for the same period a year ago.
For the nine months, the company reported net sales were $30,207,000 compared to $26,030,000 for the same period a year ago. Operating loss was $532,000 compared to $1,293,000 for the same period a year ago. Loss before provision for income taxes was $466,000 compared to $694,000 for the same period a year ago. Net loss was $469,000 or $0.03 per basic and diluted share compared to net loss of $722,000 or $0.05 per basic and diluted share for the same period a year ago. Net cash used in operating activities was $1,718,000 compared to $4,212,000 for the same period a year ago. Purchase of property and equipment was $90,000 compared to $97,000 for the same period a year ago.
InfoSonics Corporation Announces Expansion to Its Product Lineup with Phablets - the Verykool(R) s5510 and s551
Oct 29 14
InfoSonics Corporation has announced expansion to its product lineup with two 5.5-inch phablets- the verykool(R) s5510 and s5511. Both 4G-ready models run on Android 4.4 and feature a 5.5-inch qHD IPS LCD capacitive touch display, 3mm ultra-slim bezel and 8MP rear camera. Nicknamed the Juno and Juno Quatro, respectively, the phablets are lightweight and ergonomic -- designed to be held comfortably single-handedly while providing users with the big-screen advantage. The Juno features a 1.2GHz dual-core CPU, 4GB ROM, 512MB RAM and 1.3MP front camera, while the Juno Quatro is equipped with a 1.3GHz quad-core CPU, 4GB ROM, 1 GB RAM and 2MP front camera. The verykool(R) s5510 and s5511 are available as single or dual SIM models for operator customers and the open market. Suggested retail price s5510: $149.90 and s5511: $164.90 (U.S.).
InfoSonics Corporation Reveals its First LTE Smartphone
Sep 2 14
InfoSonics Corporation announced the launch of its new verykool(R) SL5000 smartphone, the company's first device to include expansive support for LTE 4G networks. The SL5000, nicknamed the Quantum, is powered by Qualcomm's Snapdragon 400 -- 1.2 GHz quad core processor--and is equipped with Android 4.4 KitKat. The Quantum is housed within an 8.9mm ultra-slim and contemporary frame, which features a 5-inch FWVGA LCD TFT-IPS touchscreen with full lamination. The Quantum also includes an 8-megapixel autofocus rear camera with high definition 720p recording, LED flash and a 2-megapixel user-facing camera. InfoSonics noted the following additional details of the SL5000: 4G LTE (Band 2-- 1900, Band 4--AWS1700-2100, Band 17/12--700); 3G HSPA+ (850/1900/AWS1700-2100);2G GSM (850/900/1800/1900); 4G LTE Category 4, 150Mbps Downlink, 50Mbps Uplink; 3G HSPA+ 42 Mbps Downlink, 11Mbps Uplink; 5-inch FWVGA LCD TFT-IPS touchscreen with full lamination (480 x 854 pixels); 1 GB RAM, 4 GB ROM, external storage via microSD up to 64 GB; Connectivity includes Wi-Fi, Wi-Fi hotspot, USB tethering, Bluetooth v4.0 LE, GPS with A-GPS and USB data port; SMS and MMS messaging plus push e-mail, IM and SNS; Built-in FM radio, multimedia player and recorder, HD 720p video recording; 2,000 mAh Li-Ion battery (Standby time: Up to 10 days | Talk time: Up to 8 hours); Speakerphone, proximity/light/gravity sensor and 3.5mm audio jack; Stereo headset, travel charger and microUSB data cable included. The verykool(R) SL5000 is available now as a single SIM for operator customers and for the open market. Suggested retail price: USD 230.
InfoSonics Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014
Aug 14 14
InfoSonics Corporation announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. The company reported net sales for the 2014 second quarter of $10.4 million, which represented a $2.1 million, or 25%, increase from $8.3 million for the second quarter of 2013. The company reported sales growth to customers in each of its geographical areas, including a 300% increase in Mexico and a 71% increase in the United States. Net income for the second quarter of 2014 was $109,000 compared to a $47,000 loss in the second quarter of 2013. The second quarter of 2013 benefited from $527,000 of other income related to the legal defeasance of a previously recorded supplier obligation. Operating income was $135,000 against loss of $569,000 a year ago. Income before provision for income taxes was $109,000 against loss of $29,000 a year ago.
For the six months ended June 30, 2014, the company's net sales were $22.1 million, which represented a $5.9 million, or 37%, increase from $16.2 million for the comparable period of the prior year. For the six months ended June 30, 2014, net income was $164,000, or $0.01 per share, compared to a loss of $756,000, or $0.05 per share, in the comparable period of the prior year. Operating income was $196,000 against loss of $1,328,000 a year ago. Income before provision for income taxes was $167,000 against loss of $731,000 a year ago. Net cash used in operating activities was $448,000 against net cash provided by operating activities of $262,000 a year ago. Purchase of property and equipment was $43,000 against $58,000 a year ago.
MobileTREC Partners with InfoSonics for First Ever Smartphone Equipped with Next-Gen Safety Capabilities
Jun 4 14
MobileTREC announced their partnership with InfoSonics Corporation to offer the smartphone pre-equipped with MobileTREC's patented mobile safety platform. The partnership kicked off with the launch of the verykool(R) s505, which InfoSonics announced on May 21, with plans for future handset collaborations in the works. This is the first fully integrated mobile safety solution that provides users with a family locator service, GPS sex offender locator, a Threat Level index, as well as essential E911 call and text routing with delivery of vital medical information to 911. Other features include Community Intelligence that indicates danger zones and safe zones before user enter them, and safety network alerts for friends and family. And, when calling for help isn't an option, MobileTREC's the only platform to provide users with text-to-911 routing.