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Insignia Systems, Inc. Announces A Profitable Second Quarter

Stocks in this article: ISIG

Insignia Systems, Inc. (Nasdaq: ISIG) today reported the following results for the three and six months ended June 30, 2013, as compared to the three and six months ended June 30, 2012.

           
Three months Three months
ended ended % increase
6/30/2013 6/30/2012 (decrease)
 
POPS revenue $ 5,748,000 $ 4,311,000 33.3 %
Products revenue   385,000   462,000   (16.7 )%
Total net sales 6,133,000 4,773,000 28.5 %
 
Operating income (loss) $ 169,000 $ (714,000 )
 
Net income (loss) $ 164,000 $ (496,000 )
 
Net income (loss) per share:
Basic $ 0.01 $ (0.04 )
Diluted $ 0.01 $ (0.04 )
 
Six months Six months
ended ended % increase
6/30/2013 6/30/2012 (decrease)
 
POPS revenue $ 12,715,000 $ 7,779,000 63.5 %
Products revenue   814,000   991,000   (17.9 )%
Total net sales 13,529,000 8,770,000 54.3 %
 
Operating income (loss) $ 1,145,000 $ (2,968,000 )
 
Net income (loss) $ 584,000 $ (2,073,000 )
 
Net income (loss) per share:
Basic $ 0.04 $ (0.15 )
Diluted $ 0.04 $ (0.15 )
 

CEO Glen Dall commented, “We are pleased to be able to announce the fourth profitable quarter in a row. While the profit was modest compared to first quarter, it indicates continued stability in our core business. Year-to-date revenue is up 54% versus the same period in 2012, which gives us a good base for a successful 2013. Third quarter POPS bookings are currently at $6.6 million, with approximately three weeks left to sell. We continue to invest in resources that will help us build a solid infrastructure for growth.

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