What InfoSonics Corporation (NASDAQ:IFON) Results Say?
InfoSonics Corporation (NASDAQ:IFON) the digital devices maker, reported that for the quarter which closed on 31st December, its sales were up 40 percent in comparison to 4Q12 to reach $11.9 million. The huge increase in sales was accomplished on the back of across the board demand for its products in various market geographies it operates in South America like Mexico and Peru. The firm also reported increase in sales from its Asia Pacific and Europe and Middle East markets. Shipments traced against units sold went up by close to 100 percent, while this surge was offset by a 28 percent dip in the price the firm received for its sales on average.
Drivers For Growth
Expressing his happiness and underlying some of the key business drivers which propelled the company ahead in the fourth quarter, InfoSonics Corporation (NASDAQ:IFON) President, Chief Executive Officer, Director Joseph Ram has been quoted to have said that, “We are pleased to report a second consecutive quarter of profitability. Sales in the fourth quarter grew 40% over the same quarter last year; gross profit grew 48% and operating expenses declined by 26%. It was a record quarter for verykool® products in terms of both sales dollars and units shipped.” The CEO went on to highlight that the unit shipments in 4Q was up by a record 96% in comparison to 4Q12 and indicated that their focus market for growth in 2014 would be U.S.
Full Year Operational Highlights
For the full year, its sales came in at $37.9 million, which was a 11 percent increase over its FY12 numbers. The flag ship product line for the firm in 2013 turned out to be the verykool product range which saw a growth of 20 percent in comparison to FY12 and contributed 20 percent to the company’s coffers.