SCOTTSDALE, Ariz., Aug. 12, 2013 (GLOBE NEWSWIRE) -- 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 second quarter ending June 30, 2013.
Revenue was $4.7 million for the second quarter of 2013, compared with $7.3 million for the same period of the prior year. The decline in revenue is primarily attributable to lower sales of power products.
Net loss was $2.4 million, or ($0.81) per share, in the second quarter of 2013, compared with a net loss of $3.5 million, or ($1.24) per share, in the same quarter of the prior year.As of June 30, 2013, the Company had $11.4 million in cash, cash equivalents, and short-term investments, and no debt. Following is a breakdown of year-over-year revenue trends in the Company's major product categories:
- Power products – Sales of power products were $3.8 million for the second quarter of 2013, compared with $5.8 million for the second quarter of 2012.
- Audio products – Sales of audio products were $479,000 for the second quarter of 2013, compared with $600,000 for the second quarter of 2012.
- Rechargeable alkaline batteries – Sales of rechargeable alkaline batteries were $342,000 for the second quarter of 2013, compared with $435,000 for the second quarter of 2012.
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