Boston, MA, 03/10/2014 – Boost on Results: InfoSonics Corporation (NASDAQ:IFON) recently made an announcement of its second consecutive positive net income in its recent quarter, bringing slight relief to the investors. The company during Q413 witnessed 40% sales growth and 48% gross profit growth compared to its previous year’s quarter. It also witnessed 96% record increase in its unit sales in the last quarter totalling to 1.9 million units sales for FY13, covering its wider geographical areas including Mexico, Puerto Rica, and Peru as well as to its private labelled customers in EMEA and APAC. The average selling price also declined by 28% as customers in Latin America purchased lower end phones that helped in more unit sales.
Intensifying quarterly results: It reported $11.9 million Net Sales and $0.125 million net profit with $0.01 earnings per share compared to a net loss of $1.2 million during the same quarter in the previous year. This could be due to 26% decline in its operating expenses compared to its previous year’s quarter. The cash balance reduced by $3.9 million compared to its previous year’s quarter as there was an increase in receivables and prepaid inventories. The net loss for the FY13 was $597,000 compared to $2.5 million reported in FY12. InfoSonics Corporation (NASDAQ:IFON)’s entrant to smart phone accessories with zero debt, growing demand expectations for Smartphone and consecutive two positive revenue growth has increased the expectations of the investors and many analysts has upgraded its recommendations for short term despite the industry pressure and weakening cash flows which the company is currently facing.
New Launch: InfoSonics Corporation (NASDAQ:IFON) recently launched its new Kolorpad, 7 inches tablet, with 1.3 ghz processor and android 4.2 OS with 3G amenities. Its competitive pricing is likely to improve its sales margins. InfoSonics Corporation (NASDAQ:IFON) during December 13 had a distribution agreement with Ingram Micro Mobility to distribute its products in U.S. and has plans of aggressive marketing through its sales efforts.