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 fourth quarter ending December 31, 2010.
Revenue was $13.2 million for the fourth quarter of 2010, an increase of 33% over revenue of $9.9 million in the same period of the prior year. Revenue in the fourth quarter of 2010 was positively impacted by the recognition of $1.6 million in deferred revenue related to sales to Walmart.
Net income was $416,000, or $0.01 per share, in the fourth quarter of 2010, compared with net income of $109,000, or $0.00 per share, in the same quarter of the prior year.
The Company’s financial position remained strong with $24.5 million in cash, cash equivalents, and short-term investments, $11.5 million in working capital (excluding cash, cash equivalents and short-term investments), and no debt as of December 31, 2010.Recent Developments
- Showcased more than 40 new products at the 2011 International CES including new charging solutions, pocket projectors, noise-cancelling headphones and other accessories for mobile electronic devices
- Received first international patents related to iGo Green® technology
- Entered rechargeable alkaline battery market through strategic partnership with PureEnergy Solutions