(NASDAQ : IFON)
IFON's cellphone brand : verykool™
InfoSonics, headquartered in San Diego, California and founded in 1994, is the parent company of several subsidiaries dedicated to the design, development, manufacturing, sale and distribution of the company’s proprietary line of products under the verykool® brand. Our goal is to provide our customers with a broad selection of wireless handsets and other wireless solutions having an appealing industrial design, a full complement of traditional features and a number of unique features that, together, set our phones apart from the competition. We also provide dedicated service and support in the countries where our branded products are sold.
The majority of our phones are sold under the verykool® brand, primarily throughout Latin America. However, we also sell our products on a private-label basis under an Original Design Manufacturer (“ODM”) business model (under which we build products to other customers requirements and brand name) in China, India, South East Asia, Europe and Africa. Our customers include network operators, open market distributors and ODM customers.
We have sales and support personnel located in Miami, Florida and in various countries throughout Latin America. Our R&D center and Asia Pacific sales office is located in Beijing, China. We also have a procurement, quality control and manufacturing control office located in Shenzhen, China, where we have established relationships with selected assembly companies (EMS providers) who manufacture our verykool® products. We maintain a very strict in-house quality control system and have dedicated personnel who monitor production and perform inspection and testing before, during and post production to ensure that products meet our quality and performance specifications.
Mobile Tech Review: IFON's VeryKool s470 Affordable Unlocked Android Phone Review
Mobile Tech Review: IFON's Smartphone Verykool RS90 Vortex (unlocked)Review
verykool™ products are sold in 28 countries and 5 continents around the world.
verykool™is the line of mobile handsets and related products owned by InfoSonics Corporation. Located in San Diego California, verykool and its people are inspired by what California has to offer: abundant sunshine, white sandy beaches, nearby mountains and a great spirit that life is good and anything is possible. The idea behind verykool is to provide the market with products that are unique, beautifully designed, feature packed and provide exceptional value for the consumer.
We are able to achieve these goals by having our own in-house professional R&D and product management departments that guide each product through the cycle of concept, industrial, hardware and software design, prototype, testing, final production and distribution into our sales channels. verykool™ has extensive sales and operational presence around the world, and we are in the field constantly listening to customers so we can better serve them.
verykool™ products are sold in 28 countries and 5 continents around the world. They are sold under the verykool™ brand throughout Latin America and the Caribbean to our customer base of network operators, large department stores and distributors. In addition, we design and manufacture products for other brands in China, India, South East Asia, Africa and Europe.
As a diverse, multi-national company, we draw on the experience, knowledge and cultures from each country where we operate. We utilize our expertise to monitor technological advancements throughout the wireless industry in chip design, software, cellular networks, etc. to enhance our products and enable us to keep our product line fresh and exciting for our customers. And, we strive to utilize our supply chain experience and discipline to deliver our products to market on a timely basis.
The concept behind verykool is to provide the market with products that have exceptional value for consumer. In addition, the products are feature rich and top quality.
We are able to achieve all that by having an extensive sales and operational presence throughout the Americas. We are in the field day in and day out listening to customers to bring them what they want when they want it.
We utilize our technological expertise to address the constant progress and evolvement of the industry through our experienced group of product mangers and engineers from the US, Latin America and China.
Our timing to market ability allows us to be in the forefront of new product introduction. We have developed a very sophisticated supply chain management discipline that allows us to constantly innovate and introduce competitive products both in terms of feature sets and prices.
InfoSonics Expands Smartphone Product Line with Release of the verykool® s450 'Onyx'
Thu April 3, 2014 9:00 AM|PR Newswire | About: IFON
SAN DIEGO, April 3, 2014 /PRNewswire/ -- InfoSonics Corporation (NASDAQ: IFON) today announced the launch of its new verykool® s450 3G smartphone.
The s450, nicknamed the Onyx, is powered by a 1.2 GHz dual core processor and the Android 4.2 (Jelly Bean) operating system. The stylish, full-featured phone, which includes a 4.5-inch capacitive touchscreen with IPS technology, has an MSRP of $139.
"We take the upmost pride in delivering quality, feature-driven products to the market at economical price points, and our s450 Onyx is no exception," said Joseph Ram, InfoSonics (IFO) president and chief executive officer. "The s450 Onyx is equipped with an 8-megapixel rear auto-focus camera, secondary VGA front-facing camera and a 4.5-inch FWVGA TFT-LCD capacitive touchscreen all housed in a sleek and attractive design. With the rising popularity of prepaid plans and need for affordable quality smartphones, the s450 Onyx is well-positioned to be one of the best value-priced handsets on the market today."
The company noted the following additional details of the s450:
- 3G HSPA+ 21 Mbps DL, 5.6 Mbps UL; 3G (850/1900); 2G quad band (850/1900/900/1800)
- 854 x 480 FWVGA display resolution
- Connectivity includes Wi-Fi, Wi-Fi hotspot, Modem Tethering, Bluetooth, GPS and USB port
- SMS and MMS messaging and push e-mail
- Built-in FM radio and multimedia player
- 1,750 mAh Li-Ion battery
- 4GB internal memory; supports up to 32 GB Micro SD card
- Speakerphone, proximity/gravity sensors, and 3.5mm audio jack with stereo headset included
The verykool® s450 is available now in two versions: with a single SIM for operator customers and a dual SIM (unlocked) model for the open market. Suggested retail price: $139 (U.S.). To learn more about the device, visit our verykool® website at http://www.verykool.net/Products/s450.
IFON's New Tablet launched February 2014.
IFON's new tablet: T742
InfoSonics' verykool(R) T742 KolorPad(TM) is a 7-inch tablet powered by a 1.3 GHz dual core processor and the Android 4.2 operating system. Like the other products in the verykool(R) lineup, the T742 (suggested retail $149) makes owning a mobile device affordable. The T742 is compact, featuring a 7-inch capacitive LCD touchscreen, up to 32 GBs of external storage, USB tethering and Bluetooth 4.0. It can connect to a keyboard, mouse and game joystick through a USB on-the-go interface and as an added value each tablet is packaged with a stereo headset, data cable, travel adapter, USB on-the-go cable and case. (PRNewsFoto/InfoSonics Corporation)
IFON's new USA distributor Ingram Micro (NYSE:IM)
SAN DIEGO, Dec. 18, 2013 /PRNewswire/ -- InfoSonics Corporation today announced that it had entered into a non-exclusive Distribution Agreement with Ingram Micro Mobility (formerly Brightpoint, Inc.), a wholly owned subsidiary of Ingram Micro Inc. (NYSE: IM).
"We are very pleased to enter into this agreement with Ingram Micro Mobility to distribute our verykool(R) phones in the United States," said Joseph Ram, InfoSonics president and chief executive officer. "We view this as a win-win scenario for both parties in which InfoSonics will gain access to Ingram Micro Mobility's vast distribution network to carriers, retail and on-line customer channels and Ingram Micro Mobility is able to expand its product offerings to include the verykool(R) family of competitively priced and innovative products."
Ingram Micro distributes Apple, Acer, Cisco, HP, IBM, Microsoft, Samsung as well
IFON's new distributor Ingram Micro Inc., a Fortune 100 company, is the world’s largest wholesale technology distributor and a global leader in IT supply-chain, mobile device lifecycle services. We distribute and market a large variety of technology and mobility products from leading companies, such as Acer, Apple, Cisco, Hewlett-Packard (“HP”), IBM, Lenovo, Microsoft, Samsung and many others.
As a vital link in the technology value chain, Ingram Micro creates sales and profitability opportunities for vendors and resellers through unique marketing programs, outsourced logistics and mobility solutions, technical support, financial services and product aggregation and distribution.
Since its beginnings in 1979, Ingram Micro has connected technology solution providers with vendors worldwide, identifying markets and technologies that shape the IT industry. Today, Ingram Micro remains at the forefront of the global technology marketplace, bringing the latest products and services to market and finding new ways to bring value to its customers.
The company supports global operations through an extensive sales and distribution network throughout North America, Europe, Middle East and Africa, Latin America and Asia-Pacific:
Local sales offices and/or representatives in 37 countries
119 distribution centers worldwide
Representing more than 1,700 vendors
Serving more than 200,000 resellers in approximately 160 countries
Providing support through approximately 20,800 world-wide associates
The only global broad-based IT distributor with significant Asia-Pacific presence
InfoSonic Adds to Its Line of Rugged Unlocked Devices
Too “kool” to be tied down to a wireless service provider? Wireless handset manufacturer InfoSonics wants to help commitment-phobic users with its Verykool line of affordable, unlocked mobile phones and devices you can use with any GSM carrier (AT&T or T-Mobile in the U.S.). With the $279 RS90 Vortex rugged Android smartphone leading the line of Verykool products, InfoSonics wants to win over people who don’t want to be locked into contracts, have lost or damaged their phones or travel internationally.
According to San Diego-based InfoSonics, Verykool is an established and popular brand in Latin America that the company has decided to start marketing back home thanks to growing acceptance and demand for cheap, unlocked phones. The RS90 Vortex is both dust- and waterproof, but unfortunately has outdated specs that include the two year old Android 4.0 Ice Cream Sandwich OS and a slow 1.2 GHz dual-core processor.
~~~~~~~~~~~~~~~~ IFON FINANCIALS ~~~~~~~~~~~~~~~~~~
FON Q1 result: NET PROFIT, NO DEBT, REVENUE INCREASED 49%
InfoSonics Reports First Quarter 2014 Results
SAN DIEGO, May 13, 2014 /PRNewswire/ -- InfoSonics Corporation (NASDAQ: IFON), the provider of verykool(R) wireless handset solutions and tablets, today announced results for its first quarter ended March 31, 2014.
"We are pleased to report a third consecutive quarter of profitability," said Joseph Ram, president and CEO of InfoSonics. "Sales in the first quarter grew 49% over the same quarter last year, gross profit grew 50% and operating expenses declined by 6%. Unit shipments during the quarter rose 51% compared to the prior year. Most importantly, we reported a large swing in profitability by turning a $709,000 loss in the first quarter of 2013 into a $55,000 profit in the first quarter of 2014. Also significant, in late March we secured a $2 million bank line of credit that will provide future liquidity, together with the arrangement of $4 million of credit insurance that will enable our manufacturing vendors to extend credit to us that was not previously available."
InfoSonics reported net sales for the 2014 first quarter of $11.6 million, which represented a $3.8 million, or 49%, increase from $7.8 million for the first quarter of 2013. The Company reported sales growth in a number of geographical areas, primarily in South America and increased private label sales to customers in Europe. These increases were partially offset by a decline in sales to customers in Central America.
Gross profit in the first quarter of 2014 was $2.1 million, a 50% increase over $1.4 million in the 2013 first quarter. The gross profit margin as a percent of sales in the first quarter of 2014 rose to 17.8% compared to 17.7% in the 2013 first quarter.
Operating expenses in the first quarter of 2014 were $2.0 million, a decrease of $129,000, or 6%, compared to $2.1 million in the 2013 first quarter. This reflects a $42,000, or 2%, increase in SG&A expenses and a $171,000, or 43%, decrease in R&D expenses. These changes reflect increased legal fees during the quarter and substantially reduced R&D expenses incident to the Company's restructurings during 2013 of its China-based development team.
Net income for the first quarter of 2014 was $55,000, a significant improvement over the net loss of $709,000 in the first quarter of 2013.
At March 31, 2014, the Company had $1.1 million in cash, $16.3 million of net working capital and
no outstanding indebtedness.
Q3, 2013 financials
Revenue: 9.87 million dollars
Net Income: 35,000 dollars
Total Debt: ~0~, Zero
Q4, 2013 financials
Revenue: 11.87 million dollars
Net Income: 125,000 dollars
Total Debt: ~0~, Zero
Joseph Ram, president and CEO of InfoSonics: "We are pleased to report a second consecutive quarter of profitability,"
6) As of December 31, 2013, we had $2.4 million of cash and cash equivalents and $16.0 million of working capital compared to $6.2 million of cash, cash equivalents and restricted cash and $16.2 million of working capital as of December 31, 2012. As of both December 31, 2013 and 2012, we had no bank debt.
IFON share structure As of April 17, 2014
Float under 10 million,
O/S 14.3 million,
A/S 40 million
IFON insiders hold 31.53% of outstanding shares. The company founder, CEO, and President Joseph Ram holds 29.98% of outstanding shares. HE IS THE BIGGEST SHAREHOLDER OF THE COMPANY.
Shares Beneficially Owned, Percent
Named Executive Officers
CEO, Joseph Ram (also a Director) 4,348,750 29.98 %
CFO, Vernon A. LoForti 192,500 1.32%
Randall P. Marx, director: 40,600
Robert S. Picow: 50,500
Kirk A. Waldron: 40,500
All current executive officers and directors as a group (5 persons) 4,672,850 31.53 %
IFON~ Institutional investors increased shares to 11.19%
it was 5% by end of December 2013
13F Owners as of March 31, 2014
Asset Manager Shares / (%)
American International Group Inc 900 / 0.01%
Bank Of New York Mellon Corp 19,033 / 0.19%
Blackrock Advisors LLC 3,600 / 0.04%
Bogle Investment Management L P De 295,796 / 2.92%
Bridgeway Capital Management Inc 71,100 / 0.70%
California Public Employees Retirement System 108,700 / 1.07%
Creative Planning 1,495 / 0.01%
Credit Suisse Ag 18,002 / 0.18%
Knight Holdco, Inc. 46,129 / 0.45%
Morgan Stanley 226,101 / 2.23%
Renaissance Technologies LLC 148,114 / 1.46%
Tower Research Capital LLC 8,211 / 0.08%
Vanguard Group Inc 187,832 / 1.85%
TOTAL: 1,134,913 shares / 11.19%
Since founding InfoSonics in 1994, Mr. Ram has served as CEO and built the Company to be one of the premier providers of wireless handset solutions. His foresight in responding to the ever-changing competitive wireless market has enabled him to lead the Company in capitalizing on many different opportunities in the marketplace. Prior to founding the company, between 1989 and 1993, Mr. Ram served as sales director for ProCom Supply, where he was in charge of worldwide purchasing and oversaw all international sales. Prior to that, Mr. Ram attended Tel Aviv University where he studied economics and business management.
Randall P. Marx
Mr. Marx has served as a Director of InfoSonics since December 2003. Mr. Marx served as a Director of ARC Wireless Solutions, Inc., a publicly traded company, a division of which is engaged in antenna and cable design and manufacturing, from February 1990 until November 2008, as Chief Executive Officer from December 1994 until June 2000, as Treasurer and Principal Financial Officer from December 1994 until June 2000, as Director of Acquisitions from July 2000 until February 2001 and as Chairman and Chief Executive Officer from February 2001 until November 2008. From 1983 until 1989, Mr. Marx served as President of THT Lloyd’s Inc., Lloyd’s Electronics Corp. and Lloyd’s Electronics Hong Kong Ltd., international consumer electronics companies. Currently, Mr. Marx is Director and Chief Executive Officer of International Development Group Ltd., a privately held holding company with current holdings of Asia Pacific Materials, Hong Kong Ltd., which is engaged in the design and contract manufacturing of various electronic products, and Group Mobile, an eCommerce distributor of ruggedized computer equipment.
Robert S. Picow
Mr. Picow has served as a Director of InfoSonics since December 2003. Since March 2001, Mr. Picow has served as a Director of SMF Energy Corporation (formerly known as Streicher Mobile Fueling, Inc.), a public company that provides petroleum product distribution services, transportation logistics and emergency response services to the trucking, manufacturing, construction, shipping, utility, energy, chemical, telecommunications and government services industries. From March 2008 through March 2011, Mr. Picow served as Vice Chairman of the Eezinet Corporation, a community aware internet service and communications provider. From May 2005 through September 2007, Mr. Picow served as a Director of Ascendia Brands, Inc., a public company that manufactured, marketed and distributed a portfolio of branded products in the health and beauty care categories. Ascendia Brands was previously known as Cenuco, Inc. prior to a name change in May 2006. From April 2004 to May 2005, Mr. Picow served as Chairman of Cenuco, Inc., a public company engaged in wireless application development and software solutions. From July 2003 to May 2005, Mr. Picow served as a Director of Cenuco. From May 2006 to September 2008, Mr. Picow served as a Director and Audit Committee Member of American Telecom Services, Inc., a public telecommunications services company. From 1996 to 1997, Mr. Picow served as Vice Chairman and a Director of BrightPoint, Inc., a public company that distributes wireless devices and accessories and provides customized logistic services to the wireless industry. From its formation in 1986 until its merger with BrightPoint in 1996, Mr. Picow was Chief Executive Officer of Allied Communications, Inc., a cellular telephone and accessory distribution company.
Kirk A. Waldron
Mr. Waldron has served as a Director of InfoSonics since January 2005. Since May 2005, Mr. Waldron has served as the Chief Financial Officer of Event Rentals, Inc. (doing business as Classic Party Rentals), the largest full-service event rental provider in the United States. From July 2005 to May 2006, Mr. Waldron served as a Director of Reptron Electronics Inc., a public company that provided engineering services, display and systems integration services and electronic manufacturing services. From September 2004 to January 2005, Mr. Waldron served as Interim President of SMTEK International Inc., a public company that provided electronics manufacturing services to original equipment manufacturers in the medical, industrial instrumentation, telecommunications, security, financial services automation and aerospace and defense industries. From April 2001 to January 2005, Mr. Waldron also served as SMTEK’s Chief Financial Officer and Treasurer, and from May 2002 to January 2005 as SMTEK’s Senior Vice President. From February 1999 to February 2001, Mr. Waldron was a Director, President and Chief Executive Officer of AML Communications, Inc., a public company that designs, manufactures, and markets radio frequency and microwave, low noise, medium and high power amplifiers and subsystems serving primarily the defense electronic warfare market. From 1996 to February 1999, Mr. Waldron served as AML’s Chief Financial Officer. From 1994 to 1996, Mr. Waldron was Chief Financial Officer at Dynamotion/ATI Corp., a public company that developed, manufactured, and marketed computer numerical control drilling and routing machines used in the production of high-density, multi-layered printed circuit boards and semiconductor packages. Mr. Waldron is a non-practicing Certified Public Accountant and holds a Bachelor of Science in Business Administration from the University of Southern California.
3636 Nobel Drive
San Diego, CA 92122
Tel: (858) 373-1600
Fax: (858) 373-1503
Investors: (858) 373-1675
Beijing, China Office
R&D Site Room 1701
Reward Building C, No. 203
2nd Section of Wang Jing
Li Ze Zhong Yaun, Chaoyang District
Beijing P.R. of China 100102