Infosonics Revenue Retreats in Quarter, Grows Over Nine Month PeriodThursday, November 15, 2012
Infosonics Corp., the San Diego distributor of cell phones to international markets, reported a third quarter net loss of $1.2 million compared to a net loss of $413,000 for the like quarter of 2011.
Net sales for the quarter were $5.4 million, down 25 percent from the prior year’s third quarter.
For the nine months, Infosonics said it had a net loss of $1.3 million, compared to a net loss of $2.1 million for the same period of 2011.
Revenue for the first nine months of 2012 was $25.8 million, up 13 percent from the same period of last year.
CEO Joseph Ram said despite softness in the past quarter, he was confident in the company’s strategy, and noted that sales of its verykool products were up 78 percent from the first nine months of last year.
Based on shipments made so far in the fourth quarter, Ram said sales in the current quarter should rebound from the third quarter, but provided no dollar amounts.
— SDBJ Staff Report