8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 7, 2013

iGo, Inc.
(Exact name of registrant as specified in its charter)  

Delaware	0-30907	86-0843914
(State of other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)

17800 North Perimeter Dr., Suite 200,
Scottsdale, Arizona 85255
(Address of principal executive offices, including zip code)

(480) 596-0061
(Registrant's telephone number, including area code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02.  Results of Operations and Financial Condition.

On November 7, 2013, iGo, Inc. (“iGo”) issued a press release announcing its results for the third quarter ended September 30, 2013. The full text of the press release issued in connection with the announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K. The press release contains forward-looking statements regarding iGo and includes cautionary statements identifying important factors that could cause actual results to differ materially from those anticipated.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed as “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01.  Financial Statements and Exhibits.

(d)  Exhibits.

Exhibit Number	Description
99.1	Press Release dated November 7, 2013.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereto duly authorized.

	iGo, Inc.
Date: November 8, 2013	By:	/s/ Terry R. Gibson
		Terry R. Gibson
		President and Chief Executive Officer

EXHIBIT INDEX

Exhibit Number	Description
99.1	Press Release dated November 7, 2013.

EX-99

Exhibit 99.1

For Immediate Release

CONTACT:	Terry Gibson
	iGO, Inc.
	investorrelations@igo.com

IGO REPORTS THIRD QUARTER 2013 FINANCIAL RESULTS

SCOTTSDALE, Ariz., November 7, 2013 – iGO, Inc. (Nasdaq: IGOI), a leading provider of eco-friendly power management solutions and accessories for mobile electronic devices, today reported financial results for the third quarter ending September 30, 2013.

Revenue was $3.4 million for the third quarter of 2013, compared with $7.9 million for the same period of the prior year. The decline in revenue is primarily attributable to lower sales of power products.

Net loss was $4.8 million, or ($1.65) per share, in the third quarter of 2013, compared with a net loss of $1.8 million, or ($0.64) per share, in the same quarter of the prior year.

As of September 30, 2013, the Company had $9.3 million in cash, cash equivalents, and short-term investments, and no debt.

Following is a breakdown of year-over-year revenue trends in the Company’s major product categories:

● Power products – Sales of power products were $2.9 million for the third quarter of 2013, compared with $6.2 million for the third quarter of 2012.

● Audio products – Sales of audio products were $339,000 for the third quarter of 2013, compared with $643,000 for the third quarter of 2012.

● Rechargeable alkaline batteries – Sales of rechargeable alkaline batteries were $149,000 for the third quarter of 2013, compared with $645,000 for the third quarter of 2012.

Gross margin for the third quarter of 2013 was (13.8)%, compared with 19.0% for the third quarter of 2012. The decrease in gross margin is primarily due to increased warranty charges, increased inventory write downs, and labor and overhead costs being spread over reduced revenue compared to the same quarter of the prior year.

Total operating expenses were $4.4 million in the third quarter of 2013, compared with $3.3 million in the third quarter of 2012. The increase is primarily due to severance and transaction expenses related to the change of control that occurred during the third quarter of 2013.

About iGO, Inc.

iGO, Inc. offers a full line of innovative accessories for almost every mobile electronic device on the market.  Whether consumers want to power, protect, listen to, share, cool, hold or connect to their devices, iGO has the accessories they need.

iGO’s products are available at www.igo.com as well as through leading resellers and retailers. For additional information call 480-596-0061, or visit www.igo.com.

iGO is a registered trademark of iGO, Inc. All other trademarks or registered trademarks are the property of their respective owners.

This press release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. The words “believe,” “expect,” “anticipate,” “should,” and other similar statements of our expectation identify forward-looking statements. These forward-looking statements are based largely on management’s expectations and involve known and unknown risks, uncertainties and other factors, which may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Risks that could cause results to differ materially from those expressed in these forward-looking statements include, among others, the sufficiency of our revenue to absorb expenses; our dependence on large purchases from significant customers; our ability to expand and diversify our customer base; increased focus of consumer electronics retailers on their own private label brands; our ability to expand our revenue base; fluctuations in our operating results because of: increases in product costs from our suppliers, our suppliers’ ability to perform, the timing of new product and technology introductions and product enhancements relative to our competitors, market acceptance of our products, the size and timing of customer orders, our ability to effectively manage inventory levels, delay or failure to fulfill orders for our products on a timely basis, distribution of or changes in our revenue among distribution partners and retailers, our inability to accurately forecast our contract manufacturing needs, difficulties with new product production implementation or supply chain, product defects and other product quality problems, the degree and rate of growth in our markets and the accompanying demand for our products, our ability to expand our internal and external sales forces and build the required infrastructure to meet anticipated growth, and seasonality of sales; our ability to manage our inventory levels; decreasing sales prices on our products over their sales cycles; our failure to integrate acquired businesses, products and technologies; our reliance on and the risk relating to outsourced manufacturing fulfillment of our products, including potential increases in manufacturing costs; the negative impacts of product returns; design and performance issues with our products; liability claims; our failure to expand or protect our proprietary rights and intellectual property; intellectual property infringement claims against us;; our ability to secure additional financing to meet our future capital needs; increased competition and/or reduced demand in our industry; our failure to comply with domestic and international laws and regulations; economic conditions, political events, war, terrorism, public health issues, natural disasters and similar circumstances; that our common stock could be delisted from the NASDAQ Capital Market; volatility in our stock price; concentration of stock ownership among our executive officers and principal stockholders; and provisions in our certificate of incorporation, bylaws and Delaware law, as well as our stockholder rights plan, that could make a proposed acquisition of the Company more difficult.

Additionally, other factors that could cause actual results to differ materially from those set forth in, contemplated by, or underlying these forward-looking statements are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 under the heading “Risk Factors.” In light of these risks and uncertainties, the forward-looking statements contained in this press release may not prove to be accurate. The Company undertakes no obligation to publicly update or revise any forward-looking statements, or any facts, events, or circumstances after the date hereof that may bear upon forward-looking statements. Additionally, the Company does not undertake any responsibility to update you on the occurrence of unanticipated events which may cause actual results to differ from those expressed or implied by these forward-looking statements.

iGo, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations

(000's except per share data)

(unaudited)

	Three months ended
	September 30,
	2013			2012
Revenue	$	3,429		$	7,931
Gross profit		(474	)		1,507
Operating expenses:
Sales and marketing		657			1,123
Research and development		511			484
General and administrative		3,204			1,684
Total operating expenses		4,372			3,291
Loss from operations		(4,846	)		(1,784	)
Interest income (expense), net		1			3
Other income (expense), net		46			(49	)
Net loss	$	(4,799	)	$	(1,830	)
Basic and diluted net loss per share*	$	(1.65	)	$	(0.64	)
Basic and diluted weighted average common shares outstanding		2,917			2,866

*September 2012 common stock and per share information has been retroactively restated to reflect the 1-for-12 reverse stock split, effective January 28, 2013.

iGo, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(000's)

(unaudited)

	September 30,		December 31,
	2013		2012
ASSETS
Cash and cash equivalents	$	7,208	$	8,229
Short-term investments		2,138		2,129
Accounts receivable, net		1,144		4,131
Inventories		3,355		8,376
Prepaid expenses and other current assets		355		336
Total current assets		14,200		23,201
Other assets, net		575		1,664
Total assets	$	14,775	$	24,865
LIABILITIES AND EQUITY
Liabilities, excluding deferred revenue	$	2,420	$	3,494
Deferred revenue		40		307
Total liabilities		2,460		3,801
Total stockholders' equity		12,315		21,064
Total liabilities and equity	$	14,775	$	24,865