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Insignia Systems, Inc. Announces A Profitable Third Quarter

Insignia Systems, Inc. (Nasdaq: ISIG) today reported the following results for the three and nine months ended September 30, 2013, as compared to the three and nine months ended September 30, 2012.
  Three months   Three months  
ended ended % increase
9/30/2013 9/30/2012 (decrease)
 
POPS revenue $ 6,927,000 $ 5,710,000 21.3 %
Products revenue   393,000   364,000   8.0 %
Total net sales 7,320,000 6,074,000 20.5 %
 
Operating income $ 544,000 $ 476,000
 
Net income $ 354,000 $ 380,000
 
Net income per share:
Basic $ 0.03 $ 0.03
Diluted $ 0.03 $ 0.03
 
Nine months Nine months
ended ended % increase
9/30/2013 9/30/2012 (decrease)
 
POPS revenue $ 19,642,000 $ 13,489,000 45.6 %
Products revenue   1,207,000   1,355,000   (10.9 ) %
Total net sales 20,849,000 14,844,000 40.5 %
 
Operating income (loss) $ 1,689,000 $ (2,492,000 )
 
Net income (loss) $ 938,000 $ (1,693,000 )
 
Net income (loss) per share:
Basic $ 0.07 $ (0.12 )
Diluted $ 0.07 $ (0.12 )
 

CEO Glen Dall commented, “I am pleased with our results this quarter and through the first nine months of 2013. The investments we made in sales and technology are beginning to pay out, as can be seen with our 40% growth in year-to-date sales as compared to 2012, and the improvement in gross margin accompanying those higher sales. We believe the results of the Company’s tender offer, while resulting in the tender of fewer shares than we had anticipated, demonstrate that our shareholders support the Company and share our optimism for about the future. Our reconstituted board is supportive of our initiatives and providing valuable leadership as we move into the next phase of our Company’s transformation.”

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