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igo inc (IGOI) Key Developments

iGO, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

iGO, Inc. reported earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net loss of $260,000, or $0.09 loss per share, compared to a net loss of $2.36 million, or $0.81 loss per share, for the same quarter ended June 30, 2013. Net revenue was $451,000, compared to $4.71 million for the same quarter ended June 30, 2013. For the six months, net loss was $1.38 million, or $0.47 loss per share, compared to a net loss of $4.85 million, or $1.67 loss per share, for the same period ended June 30, 2013. Net revenue was $2.02 million, compared to $10.29 million for the same period ended June 30, 2013.

iGo, Inc. Reports Financial Industry Regulatory Authority's Approval of Reverse/Forward Stock Splits

iGo, Inc. announced that it has received approval from the Financial Industry Regulatory Authority (FINRA) clearing the reverse and forward stock splits of the company's common stock previously approved by its stockholders and announced on June 25. The reverse and forward stock splits are intended to reduce the costs associated with servicing stockholder accounts holding relatively small numbers of shares of the company's common stock. According to FINRA's approval, the reverse and forward stock splits will take effect on July 18.

iGo, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

iGo, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. Net revenue for the first quarter of 2014 was $1.6 million as compared to $5.6 million in the same period of the prior year. The decline in revenue is primarily attributable to lower sales of power products. Net loss was $1.1 million, or $0.38 per basic and diluted share, in the first quarter of 2014, compared with a net loss of $2.5 million, or $0.86 per basic and diluted share, in the same quarter of the prior year.

iGo, Inc. Files Form 15

iGo, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended. The par value of the company's common stock was $0.01 per share.

iGO, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013

iGO, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. Net revenue for the fourth quarter of 2013 was $3.2 million as compared to $6.4 million in the same period of the prior year. The decline in revenue is primarily attributable to lower sales of power products. Net loss for the quarter ended December 31, 2013 was $2.9 million, or $0.99 per share, as compared to a net loss of $3.9 million, or $1.34 per share, in the same quarter of the prior year. Net loss in the fourth quarter of 2012 included $1.4 million in write-downs in the value of goodwill and other intangible assets. Loss from operations was $2.931 million against $3.559 million a year ago. Net revenue for the year ended December 31, 2013 was $16.9 million, as compared to $29.9 million for the year ended December 31, 2012. Net loss for the year ended December 31, 2013 was $12.6 million or $4.30 per share, as compared to a net loss of $12.0 million, or $4.22 per share for the year ended December 31, 2012. Loss from operations was $12.599 million against $10.657 million a year ago.

 

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