Boston, MA 08/15/2014 (wallstreetpr) – InfoSonics Corporation (NASDAQ:IFON) has reported the financial results for the Q2 2014. According to reports, the net hike in sales during Q2 2014 was recorded as much as 25% on YOY basis. The gross profit of the company grew by 17% while operating expenses declined by 18% in the same period.
Details Of Q2 2014 Financial Results:
According to Joseph Ram, Chief Executive Officer and President of InfoSonics Corporation (NASDAQ:IFON), “We are extremely happy to announce the financial results of Q2 2014. It is the fourth consecutive quarter in which we have made a significant profit.” The sales and gross profit of the company rose by 25% and 17% and created a solid base for the rest of the years. The thing that was more important than hike in sales figure was operation profit swing. IFON managed to post as much as $704,000 operating profit before tax and other income. It ended Q2 2013 with not so good figures of $569,000 net loss, while the Q2 2014 has been closed with an eye-popping $135,000 operating profit.
The company also generated an additional cash of $860,000 during the Q2 and ended the quarter with no borrowings on new credit lines from banks. The net sales in Q2 2014 were $10.4 million in comparison to the $2.1 million sales in Q2 2013. InfoSonics Corporation (NASDAQ:IFON) grew at a rate of 25% over the past 12 months in terms of sales. When it comes to regional sales, IFON has managed to do an extraordinary performance. The sales of IFON increased by 300% in Mexico during 70% in United States of America over the past 12 months. Total sales for the last six months ended on June 30, 2014 were $22.1 million, $5.9 million more than the same period of last year. It shows that the sales figures last six months of IFON grew at a rate of 37% on YOY basis.
