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InfoSonics Corp. is a distributor of wireless handsets and accessories in the United States and Latin America. InfoSonics distributes products of several manufacturers, including Audiovox, Kyocera, LG, Motorola, Nokia, Samsung and VK Mobile. InfoSonics’ distribution services include the purchasing, marketing, selling, software customization, warehousing, light assembly, programming, packing, shipping and delivery of handsets for wireless telecommunications from manufacturers to carriers (wireless network operators), agents, resellers, distributors, independent dealers and retailers in the United States and Latin America. Last year, the company had two reportable segments that are separate business units, wholesale distribution and retail kiosks. For the first nine months of 2004, InfoSonics owned and operated a retail kiosk business. In October 2004, the company discontinued the retail kiosk operations.
Value
Total number of shares outstanding as of Dec. 12 5,300,000
Price of each share of common stock on Dec. 12 $17.14
Aggregate market value as of Dec. 12 $90,842,000
Performance Record
For year ended Dec. 31.
2004 2003 2002
Total revenues $73,406,390 $60,885,347 $44,534,671
Net income (loss) $38,096 $1,139,013 $426,757
Net income (loss) per share $.19 $.15 $.12
Total assets $18,719,756 $12,698,819 $6,021,013
Directors
Joseph Ram, 42, director since 1994.
Abraham Rosler, 44, director since 1998.
Randall Marx, 53, director since 2003.
Robert Picow, 49, director since 2003.
Kirk Waldron, 42, director since 2005.
Executive Compensation
Officer 2004 Cash Compensation
Joseph Ram, chief executive officer $275,000
Jeffrey Klausner, chief financial officer $150,000
Joseph Murgo, vice president of sales $129,865
Abraham Rosler, executive vice president $120,000
Significant Stock Ownership
Number of shares June 30 Percent
Joseph Ram 2,600,000 48.04
JRC, Inc. 920,000 17.25
Abraham Rosler 695,500 11.77
Jeffrey Klausner 293,611 5.33
Directors and officers as a group (seven people) 3,670,361 56.62
Other Information
Headquarters: 5880 Pacific Center Blvd., San Diego, CA 92121; (858) 373-1600; fax (858) 373-1505.
Web site: www.infosonics.com.
Auditors: Singer Lewak Greenbaum & Goldstein LLP.
Employees: 40.
Industry: Electronics wholesale.
Information was compiled from the company’s annual and proxy reports.
