IntriCon Corporation News
3 Industrial Goods Stocks Moving The Sector Upward
TheStreet highlights 3 stocks that pushed the Industrial Goods sector
Why IntriCon (IIN) Stock Is Soaring Today
IntriCon (IIN) soared more than 40% to a one-year high of $6.95 on Tuesday after the body-worn device manufacturer reported increases in revenue and net income in its first-quarter results. The company reported net sales of $17.3 million, its best quarterly figure in more than five years. This marked a 22.5% year-over-year increase from $14.1 million. Net income totaled $517,000, or 9 cents per diluted share, compared to a net loss of $471,000, or 8 cents per diluted share, in the same quarter one year earlier. Gross profit margin rose year over year to 27.6% from 26.7%. Net income from continuing operations was $787,000, or 14 cents per diluted share, up from a net loss of $23,000 in the same period a year ago. Net loss from discontinued operations totaled $270,000, or 5 cents per diluted share, compared to a net loss of $448,000, or 8 cents per diluted share, in the same quarter one year ago. This included a loss of $120,000, or 2 cents per diluted share, from the sale of IntriCon Tibbetts Corporation, the company's wholly-owned subsidiary based in Camden, Maine.
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