CEO has stock and options up the wazzoo. He should for-go his @250k salary so that can be added to the bottom line...and he will make out better as the stock will be higher. jmo
Getting taken to the cleaners today! Ouch. I guess I should have sold at $1.20 and re-bought today.
At least the 3 day pass and Saturday are sold out on Tulsa this weekend
I notice that 36.8k on the bid, too. Hopefully the bidder will be back tomorrow and help us clear out some more Hudson Bay shares. With volume picking up a bit, shouldnt be long until they are done selling their remaining shares.
Thanks for keeping us updated on the scanner inventory numbers, SA.
Wish I had some more "dry powder." SCKT ask sitting on $2.25 with no volume after posting 9 cents. Stock is 50 cents lower than where it was just days/weeks before the report. I guess the cautious commentary on the temporary Apple slowdown coupled with the Hudson Bay's overhang has people in no rush to add at this stage. Great opportunity here to add before the fun starts!
Wow! Very surprised we didnt open today over $3...and I say that realistically,.. not emotionally because I own the stock. The Q4 Apple-related slowdown is very temporary and I wouldnt be surprised if it was less of a big deal than the cautious commentary in the call made it out to be. Bottom line is SCKT will still be profitable next Q, and 2015 is looking better than ever.
Expenses up 10%..not a big deal in a $ amount but something to watch. I think the take away is-as SA Dave has accurately stated-SCKT can post some big EPS if they contain their expenses and keep revenue raising. When you factor in Lopez' salary, EPS is gets reduced slightly..so lets hope for continued rev growth, stable expenses, and a product that gets well received by an exciting market segment. Go SCKT
Socket Mobile Reports Third Quarter Revenue Growth and Profitability
Socket Mobile 2 minutes ago
NEWARK, Calif., Oct. 23, 2014 /PRNewswire/ -- Socket Mobile, Inc. (SCKT), an innovative provider of mobile productivity products, today reported financial results for its third quarter ended September 30, 2014.
Revenue for the third quarter of 2014 was $4.9 million, an increase of 50 percent compared to revenue of $3.3 million for the same quarter a year ago and an increase of 12 percent compared to revenue of $4.4 million in the immediately preceding quarter. Net income for the third quarter of 2014 was $431,000, or $0.09 per share, compared to a net loss of $321,000, or a loss of $0.07 per share, in the third quarter of 2013 and net income of $93,000, or $0.02 per share, in the immediately preceding quarter.
Operating expenses for the third quarter of 2014 were $1.6 million, an increase of 10 percent from operating expenses of $1.5 million for the same quarter a year ago and flat with operating expenses of $1.6 million in the immediately preceding quarter.
For the nine months ended September 30, 2014, revenue was $13.1 million, compared to revenue of $12.0 million in the year ago period. Net income for the nine months ended September 30, 2014 was $453,000, or $0.09 per share, compared to a net loss of $0.2 million, or a loss of $0.04 per share for the same period one year ago.
Cash and cash equivalents were $0.7 million at September 30, 2014 compared to $0.6 million at December 31, 2013.
Kevin Mills, president and chief executive officer, commented, "Our cordless barcode scanning revenue in the third quarter of 2014 increased 80 percent year over year, driven by our base of over 1,000 software application developers registered to add our barcode scanners to their mobile point of sale and mobile commercial service applications for use with Apple, Android and Windows smartphones and tablets.
"We continue to focus on bringing new innovative products to market that address the requirements of our customers and expand and improve our family of barcode scanning products. Our cordless barcode scanners are ergonomically designed for ease of use while walking around and are available for linear imager scanning, linear laser barcode scanning and 2D barcode scanning. These scanners all connect to a smartphone or tablet over Bluetooth and do not need connecting wires. Socket offers standard products in five vibrant colors and ruggedized products where more durable scanners are needed. Our 7-Series models are designed as stand-alone handheld barcode scanners and our 8-Series models are designed to be attached to the back of a smartphone for single handed barcode scanning. All of our products use the same SocketScan software and may be used with an application without requiring a software change or different version of the application, making it easy for the developer and the customer to accommodate a variety of barcode scanners with the same application. Our SocketScan software enables customers to scan rapidly and accurately, and to edit and direct the scanned data into an application of choice.
"Our recently released QX Stand complements our CHS 7Qi and 7Xi scanners and is designed for a retail environment. As part of a mobile point of sale solution, the Stand provides customers a secure and convenient scanning and charging location and also features a quick release for effortless switching to mobile scanning mode.
"We remain focused on building on our leadership position in the cordless hand scanning market, and with our broad range of innovative mobile solutions, we believe Socket is well positioned to capitalize on the significant potential for further growth in the mobile applications markets," Mills concluded.
Management of Socket Mobile will hold a conference call and web cast today at 2 PM Pacific, (5 PM Eastern) to discuss the quarterly results and outlook for the future. The dial-in number to access the call is (877) 407-9210 from within the U.S. or (201) 689-8049 from international locations. A replay will be available via telephone for a week following the call at (877) 660-6853 from within the U.S., or (201) 612-7415 from international locations. Conference ID is 13592730#. The call will also be carried live and available via replay through a link on Socket Mobile's website at www.socketmobile.com. From the home page, choose "About Socket"/"Investor Relations"/"Conference Calls and Events."
Today's earnings report and cc should be very interesting. I'm praying for an upside surprise to get this stock on the radar. Im sure the James Lopez hire will be discussed. It seems to me they should be focusing on cleaning up the balance sheet and being a lean, mean, positive eps machine at this stage...and hire additional $ personnel when totally necessary, as business starts to "boom." . Is that happening yet? I dont think so. Mills and Co will probably say this hire was necessary and they want to stay ahead of the market by being aggressive now. Might be a good move. Or stall our advance? We will see.
Saw this of Socket's Facbook page :"The #socketmobile CHS 7Xi and 7Ci Bluetooth Barcode Scanners are now available at the Apple Online Store - Europe." Then they give a link to the apple uk webiste listing the scanners...Yahoo want let me insert the link
Any reason the evil consultant and his sidekicks decided to dump their shares in a panic sell-off? Seems like a weird thing to do if you are sophisticated in the capital raise and investment arena and havd done DD on ABRW before involvement. Has something changed? Good to see the large shareholder step up and buy a few cheapies, but why continued sell-off today as the market soars? Interesting situation, indeed. Btw, I am long and just bought shares the other day at .33 on the sell-off. Everything I read about the company seems positive, so just trying to figure out why this is down so much since August.
"if they weren't buying at $1.25, I don't see them buying at $2.75" I agree..although, being on the inside, if are beginning to see a ramp in sales now vs when the stock was trading in the $1's, it seems like more informed buy-point at this juncture. Wishful thinking on my part. Now that Mills can buy his kids XMas gifts this year, its to the moon with SCKT!
Form 4 filed with Mills selling 5000 shares yesterday at $2.59. Small amount of his holdings (which arent very significant in the first place) but why is he selling anything now if its going to be a good Q and the future looks bright? This action gives him a little more pocket change but sends the market a cautious signal. When I saw the Form 4, I was thinking it might be a buy! I wish management had lower salaries and were more incentivized by options to get the stock higher.
I added a couple more thousand today because I didnt want the train to leave the station before I was loaded. Last trade was 2.74 but then there looks like another aftermarket trade @ 2.59. Regardless, I'm liking this trend. An 8 cent Q with that same 30 forward p/e would garner a $9.60 share price....and as SA says, that is just the beginning of where things can go as this space heats up. But I'm not going to get carried away until I see them put up some decent EPS and rev growth next Q.
SA, I know we are not exactly comparing apples to apples each Q, but, if costs are relatively fixed, why would you expect only 7-8 cents EPS on $5M in revenue if $4.4M produced 2 cents EPS (earnings of $93K) last Q? Seems like $4.7M would give SCKT @ 6 cents or so for the Q, if costs are similar to Q2...and a 6 cent Q might attract more eyes on the stock. Are you factoring in additional shares in your calculations because of Hudson Bay warrants, or are you anticipating slightly higher expenses this Q than last? What am I missing? Thanks, I appreciate you sharing your DD with us.