Flat Note at InfoSonics
InfoSonics (IFON) plunged 19% Thursday after the wireless handset distributor missed third-quarter earnings targets.
The San Diego-based company made $677,000, or 4 cents a share, for the quarter ended Sept. 30, down from the year-ago $1.2 million, or 10 cents a share. Revenue rose 25% from a year ago to $67.6 million. Adjusted earnings, excluding stock-based compensation expense, were a nickel a share.
An analyst surveyed by Thomson Financial was looking for a 7-cent profit on sales of $72 million.
Shares fell $1.05 to $4.75.
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