Boston, MA 03/07/2014 (wallstreetpr) – InfoSonics Corporation (NASDAQ:IFAN) has reported its fourth quarter and full year earnings for the period ending December 31, 2013. The fourth quarter earnings marked the second consecutive quarter that the company traded in profitable margins with sales growing by over 40%.
InfoSonics is a leading provider of wireless handsets and accessories, to carriers and equipment manufacturers.
InfoSonics Financial analysis
InfoSonics saw its fourth quarter sales surge by highs of 40% coming in at $11.9 million up from $8.5 million reported in the fourth quarter of 2012. The net sales were heavily impacted by growth in key markets such as Puerto Rico Mexico and Peru. Net sale also grew in private label customers such as EMEA and APAC.
InfoSonics fourth quarter shipments nearly doubled, as markets continued with the positive pattern of growth. Net year sales as of December 31, 2013 came in at $37.9 million an increase of 11% compared to net sales worth 34.3 million reported in 2012
InfoSonics gross profit in the fourth quarter came in at $2 million an increase of 48% compared to $1.4 million reported in the fourth quarter of 2012. Gross profit the full year came in at $6.9 million against $6.8 million reported in 2012.
InfoSonics Corporation (NASDAQ:IFAN) operating expenses for the fourth quarter clocked in at $1.9 million a drop of 26% compared to operating expenses of $2.5 million reported in the fourth quarter of 2012. Operating expenses for the full year amounted to $8.5 million a drop of 13% against highs of $9.3 million in 2012.
Net income for the fourth quarter came in at $125 000 against a net loss of $1.2 million reported in the same quarter a year ago. The net loss for the full year came in at $597,000 a drop from a high net loss of $2.5 million reported in 2012.