This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Insignia Systems, Inc. Reports Third Quarter Results

Insignia Systems, Inc. (Nasdaq: ISIG) today reported a net loss for the third quarter of 2011 of $(1,721,000) or $(0.11) per basic and diluted share, compared to net income of $932,000 or $0.06 per basic share ($0.05 per diluted share), for the third quarter of 2010. Net sales were $3,060,000 for the third quarter ended September 30, 2011, a decrease of 64.1%, compared to net sales of $8,517,000 for the third quarter of 2010. Insignia Point-of-Purchase Services ® (POPS) revenue for the third quarter of 2011 was $2,563,000, a decrease of 67.4% compared to third quarter 2010 POPS revenue of $7,858,000.

For the nine months ended September 30, 2011, net sales were $13,033,000, a decrease of 42.7%, compared to net sales of $22,726,000 for the nine months ended September 30, 2010. Net income for the first nine months of 2011 was $51,477,000, or $3.31 per basic share ($3.23 per diluted share), compared to $1,151,000, or $0.07 per basic and diluted share for the same period of 2010. Insignia POPS revenue for the first nine months of 2011 was $11,383,000, a decrease of 44.6%, compared to the first nine months of 2010 POPS revenue of $20,557,000. Net income in the first nine months of 2011 included a gain from the settlement of the litigation against News America Marketing In-Store, LLC (News America) of $89,762,000 before income taxes.

CEO Scott Drill stated, “To state the obvious, our business in the third quarter was more than extremely disappointing. Our business arrangement with News America is currently very tenuous. It did seem to improve for a while in the aftermath of the August 25 th ruling by the Federal Magistrate Judge following the hearing on August 19 th. However, recently things have deteriorated, and we have a hearing scheduled for this Friday in which the major issue is whether they will hang our signs for a cycle beginning November 6 th. Last Thursday we were informed that they would not hang our signs for the cycle beginning November 6 th because the signs contain a color background. Historically most of the signs placed under the News America Price Pop Guaranteed program have contained color backgrounds. We are hoping for a favorable emergency ruling on Friday so that the cycle beginning November 6 th can be executed. The lack of a favorable ruling Friday will be detrimental to our business.

While business has been disappointing this year, we believe that the worst is behind us. We remain hopeful that our efforts to resolve the remaining issues with News America will result in increased revenues in 2012. We are currently in the final testing phase of our new laser die cutter that is expected to be in production in the first quarter of 2012. We are excited to add the capabilities of this laser die cutter to our service offerings for our customers and think it will set Insignia apart in our industry.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.72 -0.56%
FB $119.49 1.43%
GOOG $711.12 1.38%
TSLA $214.93 1.61%
YHOO $37.23 0.79%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs