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Wednesday, Sep 28, 2022
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InfoSonics Has Record Sales, Yet Net Income Declines

InfoSonics Corp., a San Diego-based distributor of wireless phone handsets and related gear, saw record net sales in the third quarter, the company announced Nov. 9. However, it also saw third-quarter earnings decline year over year.

The company reported net income of $677,000, or 4 cents per diluted share, on net sales of $67.6 million in the quarter ended Sept. 30. In the same quarter of 2005, the company reported net income of $1.17 million, or 10 cents per diluted share, on net sales of $54.2 million.

Units shipped in the third quarter of 2006 were up 55 percent from the same quarter of 2005.

InfoSonics reported earnings after the market closed Nov. 9. Its stock, which trades on the Nasdaq as IFON, closed at $5.80.

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, Brad Graves

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