IGo Reports Third Quarter 2010 Financial Results
iGo, Inc. (Nasdaq: IGOI), a leading provider of eco-friendly power management solutions and accessories for mobile electronic devices, today reported financial results for the third quarter ending September 30, 2010.
Net income was $51,000, or $0.00 per share, in the third quarter of 2010, compared with net income of $318,000, or $0.01 per share, in the same quarter of the prior year.
Revenue was $12.2 million in the third quarter of 2010, compared to $9.7 million in the second quarter of 2010 and $12.0 million in the same period of the prior year.
The Company’s financial position remained strong at $31.7 million in cash, cash equivalents, and short-term investments, $7.3 million in working capital and no debt as of September 30, 2010.Recent Developments
- Adapt Mobile, a London-based marketer of a broad range of mobile electronic device accessories, was acquired in August
- AERIAL7, a designer and marketer of innovative headphones for mobile electronic devices and professional audio equipment, was acquired in October
- Five patents have been issued on iGo Green® Technology
- An agreement was signed with Texas Instruments to collaboratively develop a custom integrated circuit that enables and expands market availability of efficient iGo Green® Technology
- iGo announced the development of a new family of accessories for Cisco’s Flip Video camera
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