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Tuesday, Jun 25, 2024

Proxy: InfoSonics Corp.


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.


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


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.


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