This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Insignia Systems, Inc. Reports First Quarter Results

Insignia Systems, Inc. (Nasdaq: ISIG) today reported net sales of $3,997,000 for the first quarter ended March 31, 2012, a decrease of 19.2%, compared to net sales of $4,947,000 for the first quarter ended March 31, 2011. The net loss for the first quarter of 2012 was $(1,577,000), or $(0.12) per basic and diluted share, compared to net income of $53,873,000, or $3.37 per basic share and $3.17 per diluted share, for the first quarter of 2011. Net income for the first quarter of 2011 included a gain from the settlement of the litigation against News America Marketing In-Store, LLC (“News America”) of $55,062,000, net of tax. Insignia Point-of-Purchase Services ® (POPS) revenue for the first quarter of 2012 was $3,468,000, a decrease of 20.7% compared to first quarter 2011 POPS revenue of $4,374,000.

CEO Scott Drill commented, “The results in the first quarter of 2012, while disappointing, were in-line with our estimates for quarterly performance announced a couple of months ago. These poor results are not acceptable and that was the driving force behind our decision to restructure our operations in March. The restructuring should remove over $3 million of expense on an annual basis. As the charge related to this restructuring was booked in March, the Company will not realize any financial benefit from this reduced expense until the second quarter of 2012 and beyond. This expense reduction allows us to be profitable at lower revenue levels, while not affecting our ability to provide our customers with the same superior, timely performance they are used to.”

Executive Vice President and COO Glen Dall commented, “We remain cautiously optimistic about the remainder of 2012 for several key reasons. First, and most importantly, it appears that the focus of our sales team will translate into sales levels that we had seen prior to 2011. In the past few weeks, we have signed several significant contracts with our CPG customers that are set to run later this year. We have over $4.3 million of revenue on the books for the second quarter of 2012, with approximately five weeks of selling time left. Additionally, we have over twice as much revenue booked for the second half of 2012 as we had booked for the second half of 2011 at this time last year. We see this as a sign that helps support the optimism we have seen from our sales force in recent months.

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,603.56 -172.56 -0.97%
S&P 500 2,054.25 -13.64 -0.66%
NASDAQ 4,866.5980 -34.2870 -0.70%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs