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IGo Reports First Quarter 2011 Financial Results

Additionally, other factors that could cause actual results to differ materially from those set forth in, contemplated by, or underlying these forward-looking statements are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2010 under the heading “Risk Factors.” In light of these risks and uncertainties, the forward-looking statements contained in this press release may not prove to be accurate. The Company undertakes no obligation to publicly update or revise any forward-looking statements, or any facts, events, or circumstances after the date hereof that may bear upon forward-looking statements. Additionally, the Company does not undertake any responsibility to update you on the occurrence of unanticipated events which may cause actual results to differ from those expressed or implied by these forward-looking statements.

iGo, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(000's except per share data)
Three months ended
March 31,
  2011     2010  
Net revenue $ 9,228 $ 8,168
Gross profit 2,859 2,651
Selling, engineering and administrative expenses   4,549     3,726  
Loss from operations (1,690 ) (1,075 )
Interest income (expense), net 21 56
Other income (expense), net   30     1,788  
Net income (loss) $ (1,639 ) $ 769  
Net income (loss) per share:
Basic $ (0.05 ) $ 0.02
Diluted $ (0.05 ) $ 0.02
Weighted avg common shares outstanding:
Basic 33,026 32,558
Diluted 33,026 33,634
iGo, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
March 31, December 31,
2011 2010
Cash and cash equivalents $ 16,399 $ 9,942
Short-term investments 6,923 14,532
Accounts receivable, net 4,350 8,620
Inventories 12,169 10,307
Prepaid expenses and other current assets   787   460
Total current assets 40,628 43,861
Other assets, net   6,689   6,312
Total assets $ 47,317 $ 50,173
Liabilities, excluding deferred revenue $ 5,933 $ 6,037
Deferred revenue   568   1,838
Total liabilities 6,501 7,875
Total stockholders' equity 40,816 42,298
Total liabilities and equity $ 47,317 $ 50,173

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