Megazoo...SCKT: Since everything has to "clear the channel" before it counts for revenue, the quarter is pretty much done.
1rst Q: I tracked $1.7M in scanner sales in N.A. out of a final N.A. total of $1.9M. There was another $850K from international. There was around $150K of the "misc" revenue that was scanner charges/accessories/warranty. The total scanner sales were $2.75M + $150K of extra.
2Q: I tracked $2.1M in scanner sales in N.A. and am being conservative so I figure I'm not seeing it all. Also, people don't realize it, but from 4th Q to 1rst Q international sales grew from $500-550K to $850K so I expect that trend to continue (perhaps not at that rate). I also started to track scanner charger stands and have seen a solid number of them sell also. I'm very confident they will do at least $3.3M in scanner sales this Q total (I'm figuring $2.25M in N.A. and $1.05M international---for a 22% sequential growth rate from 1rst Q) + the extra misc sales look on target for $150K again.
None of this includes a "big order". Is there one? I know someone who was quite upset with the company after the 1rst Q number and he was reassured there would be one this quarter (no details given other than that).
Somo---The numbers I've seen indicate that it will go lower for 2Q by a bit more. However, someone I know (another major shareholder) was told in general a month ago that the Somo was doing slightly better than 1rst Q. I take that with a grain of salt. I do know that around $450K of the 1rst Q number was N.A. and just $150K international (whereas in the past they usually ran 50/50). If there was any rebound internationally then perhaps it is doing better? I will only believe it when I see it and won't assume it. On the other hand, around $250K of the misc revenue of 1rst Q was Somo accessories and repair/warranty work. I figure that is similar as Socket is actually hiring an additional repair person to assist in this area. They have like 50-60K Somos out there they have sold in the last 6-7 years that probably need repair work done more and more.
Overall, I'm almost 100% certain they will be at $4.2M for "baseline" revenue (their estimate in the cc call). Perhaps $100K more. I think $200K is too much because of the Somo uncertainty. The key after that will be "if" and "what size" the large order is that is supposed to have occurred this quarter that gets added on to that number. It'd be nice to get a pr out on it. I do know they are working on 2 more pr's for release in the coming weeks (I thought one might of been this week).
Overall, they will be net income positive for certain---even at just $4.2M (expenses are expected to be similar to last Q, around $1.7M or less). The scanners will show nice quarterly sequential growth again that will look good. The keys will be how strong were international scanner orders--better than the $200K I estimated?, how much of N.A. sales did I not see---I'm assuming $150K?, was there a rebound in international Somo orders?, and what about the large deal? I'd love to see $4.6M or above. I think that and a positive comment towards 3rd Q would put the stock above $2 forever. Perhaps it's wishful thinking? I'd like to be surprised to the upside just once! I figure once it breaks through a 52 week high it should start to garner more attention. I know they have an investor campaign lined up with a NY firm that involve presentations to high net worth investors + an independent research report for later this year. The CFO told another shareholder they were waiting for solid revenue numbers and net income before they started it.
Things for 2014 that I know of: IR campaign, the 2d version of the 8 series scanner will be coming, a new scanner stand (that is supposed to be pretty exciting in it's design---it will hold the scanner in an upright stand next to the cash register). The new RFID/NFC scanner accessory for the Somo will be in at Ingram Micro on July 3rd (from the website I track)---I will definitely track it's sales to see if it makes any impact on the Somo.
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