-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, S1pquiTT8wPKRzKIeHV098nv2spnor0DPQnLj3jQOxCYcK6pXgnKuAoMO8mQzoa7 VCj3Ra/x3GYqnTx1TwKUKg== 0001104659-05-017594.txt : 20050422 0001104659-05-017594.hdr.sgml : 20050422 20050422060638 ACCESSION NUMBER: 0001104659-05-017594 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20050422 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20050422 DATE AS OF CHANGE: 20050422 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INFOSONICS CORP CENTRAL INDEX KEY: 0001274032 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065] IRS NUMBER: 330599368 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32217 FILM NUMBER: 05765919 BUSINESS ADDRESS: STREET 1: 6325 LUSK BLVD STREET 2: STE A CITY: SAN DIEGO STATE: CA ZIP: 92121 BUSINESS PHONE: 8583731674 MAIL ADDRESS: STREET 1: 6325 LUSK BLVD STREET 2: STE A CITY: SAN DIEGO STATE: CA ZIP: 92121 8-K 1 a05-7093_18k.htm 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):  April 22, 2005

 

InfoSonics Corporation

(Exact name of registrant as specified in its charter)

 

Maryland

 

005-79915

 

33-0599368

(State or other jurisdiction
of incorporation)

 

(Commission File Number)

 

(IRS Employer Identification
No.)

 

 

 

 

 

5880 Pacific Center Blvd., San Diego, CA

 

92121

(Address of principal executive offices)

 

(Zip Code)

 

 

 

 

 

Registrant’s telephone number, including area code (858) 373-1600

 

 

 

 

 

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):

 

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

 

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

 

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

 

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

 

 


 

Item 7.01.  Regulation FD Disclosure.

 

Beginning April 22, 2005, InfoSonics Corporation (the “Company”) intends to present or distribute to investors the following information regarding the Company’s results of operations for the fourth quarter of 2004:

 

For the quarter ended December 31, 2004, we had net income of $2,000, on net sales of $19.6 million.  This compares with net income of $92,000, on net sales of $18.7 million for the quarter ended December 31, 2003. The 5% increase in net sales ($0.9 million) is primarily attributable to a 10% increase in handset volume, which was partially offset by a 7% decrease in average selling price per unit.  The decrease in net income is primarily attributable to a decrease in gross profit, as described below.

 

For the quarter ended December 31, 2004, gross profit decreased by $296,000, a decrease of 18%, as compared with the gross profit for the prior year.  As a percentage of revenues, gross profit decreased to 6.7% for the quarter ended December 31, 2004 from 8.6% for the quarter ended December 31, 2003. The decrease in gross profit is primarily the result of problematic inventory that was cleared at or below cost.  Subsequently this inventory is off our books and we do not see a major impact from problematic inventory in the following quarter.  Additionally, both sales and margin results were impacted by carriers promotional activities in the USA in which products were bundled with service offerings, which limited our sales and margin potentials.

 

*****

 

The Company undertakes no obligation to update, supplement or amend the material above.  In accordance with General Instruction B.2 of Form 8-K, the information in this report shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing.  This report does not constitute a determination of whether any information included in this report is material.

 

2


 

SIGNATURES

 

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

 

 

InfoSonics Corporation

 

 

 

 

 

/s/ Jeffrey Klausner

 

 

 

Chief Financial Officer

 

 

Dated:

April 22, 2005

 

 

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