InfoSonics reported earnings of 5 cents a share for the fourth quarter, up from 1 cent in the year-ago quarter. The company reported revenue of $17.9 million for the fourth quarter, a 50.4% increase from its year-ago revenue of $11.9 million.
There were no analyst estimates available for the company.
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Unit shipments fell 4% from the year-ago quarter, but average selling price per unit grew 57%.
"We feel positive looking ahead to 2015 as we have significantly refreshed our product portfolio and plan to continue to do so at a more rapid pace than in the past," President and CEO Joseph Ram said. "We have been working to improve the design, technology, specifications and pricing of our new phones to make them even more competitive in both the carrier and retail spaces."
Ram added, "In addition, we are responding to customer demand for larger screen devices and, for the U.S. market, have introduced our first LTE model with more models to be launched soon."
About 2.9 million shares of InfoSonics were traded by 10:53 a.m. Wednesday, compared to an average trading volume of about 102,000 shares a day.
TheStreet Ratings team rates INFOSONICS CORP as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate INFOSONICS CORP (IFON) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income and poor profit margins."
You can view the full analysis from the report here: IFON Ratings Report