InfoSonics Swings To Q4 Profit

(RTTNews) - InfoSonics Corporation (IFON), Thursday reported fourth-quarter net income of $125 thousand or $0.01 per share, compared to a net loss of $1.2 million or $0.08 per share last year. The company's shares are currently trading up 23 percent on the Nasdaq.

InfoSonics sales for the quarter surged 40 percent to $11.9 million from $8.5 million a year ago.

The company recorded growth in a number of geographical areas including Mexico, Puerto Rico and Peru, as well as increased sales to private label customers in EMEA and APAC.

Gross margin, or gross profit as a percent of sales, advanced to 16.9 percent from 16.0 percent a year ago.