Delaware (State or Other Jurisdiction of Incorporation) |
0-30907 (Commission File Number) |
86-0843914 (IRS Employer Identification No.) |
17800 N. Perimeter Dr., Suite 200, Scottsdale, Arizona (Address of Principal Executive Offices) |
85255 (Zip Code) |
Exhibit No. | Description | |
Exhibit 99.1 | Press Release issued March 10, 2011 |
iGO, INC. |
||||
Dated: March 10, 2011 | By: | /s/ Darryl S. Baker | ||
Name: | Darryl S. Baker | |||
Title: | Vice President and Chief Financial Officer |
Exhibit | ||
Number | Description of Document | |
99.1
|
Press Release issued March 10, 2011 |
CONTACTS:
|
Tony Rossi | |
Financial Profiles | ||
310-478-2700 x13 | ||
trossi@finprofiles.com |
| Showcased more than 40 new products at the 2011 International CES including new charging solutions, pocket projectors, noise-cancelling headphones and other accessories for mobile electronic devices | ||
| Received first international patents related to iGo Green® technology | ||
| Entered rechargeable alkaline battery market through strategic partnership with PureEnergy Solutions |
Three months ended | Year ended | |||||||||||||||
December 31, | December 31, | |||||||||||||||
2010 | 2009 | 2010 | 2009 | |||||||||||||
As recast* | As recast* | |||||||||||||||
Net revenue |
$ | 13,220 | $ | 9,919 | $ | 43,357 | $ | 48,944 | ||||||||
Gross profit |
4,407 | 3,248 | 14,410 | 15,168 | ||||||||||||
Selling, engineering and administrative expenses |
5,020 | 3,568 | 16,924 | 16,606 | ||||||||||||
Loss from operations |
(613 | ) | (320 | ) | (2,514 | ) | (1,438 | ) | ||||||||
Interest income (expense), net |
24 | 52 | 171 | 235 | ||||||||||||
Other income (expense), net |
238 | 143 | 2,176 | 506 | ||||||||||||
Loss before income tax benefit |
(351 | ) | (125 | ) | (167 | ) | (697 | ) | ||||||||
Income tax benefit |
767 | 234 | 1,002 | 234 | ||||||||||||
Net income (loss) |
$ | 416 | $ | 109 | $ | 835 | $ | (463 | ) | |||||||
Net income (loss) per share: |
||||||||||||||||
Basic |
$ | 0.01 | $ | 0.00 | $ | 0.03 | $ | (0.01 | ) | |||||||
Diluted |
$ | 0.01 | $ | 0.00 | $ | 0.02 | $ | (0.01 | ) | |||||||
Weighted average common shares outstanding: |
||||||||||||||||
Basic |
32,889 | 32,412 | 32,770 | 32,310 | ||||||||||||
Diluted |
35,199 | 33,921 | 35,081 | 32,310 |
* | Effective January 1, 2010, the Company determined it was no longer the primary beneficiary of Mission Technology Group. Accordingly, the results of Mission have been removed from the 2009 financial information. |
December 31, | ||||||||
2010 | 2009 | |||||||
As recast* | ||||||||
ASSETS |
||||||||
Cash and cash equivalents |
$ | 9,942 | $ | 19,775 | ||||
Short-term investments |
14,532 | 12,777 | ||||||
Accounts receivable, net |
8,620 | 5,109 | ||||||
Inventories |
10,307 | 5,964 | ||||||
Prepaid expenses and other current assets |
460 | 401 | ||||||
Total current assets |
43,861 | 44,026 | ||||||
Other assets, net |
6,312 | 2,151 | ||||||
Total assets |
$ | 50,173 | $ | 46,177 | ||||
LIABILITIES AND EQUITY |
||||||||
Liabilities, excluding deferred revenue |
$ | 6,037 | $ | 4,981 | ||||
Deferred revenue |
1,838 | 914 | ||||||
Total liabilities |
7,875 | 5,895 | ||||||
Total stockholders equity |
42,298 | 40,282 | ||||||
Total liabilities and equity |
$ | 50,173 | $ | 46,177 | ||||
* | Effective January 1, 2010, the Company determined it was no longer the primary beneficiary of Mission Technology Group. Accordingly, the results of Mission have been removed from the 2009 financial information. |
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