Great, thanks for contacting them and sharing what you learned. Good to hear the order is not from one of their regular customers. That extra $1.6M should really help eps. Could be the difference between, say, a $4.2M Q4/Q1 and a $5M Q4/Q1. A few ~900k net income Q's certainly wouldn't hurt the stock price ;)
They didnt say. The negative is that its a final order to this particular customer, but the good news its a significant order, it will be recognized in the 2 Q's that are typically softer, and we werent excepting much out of SOMO anyway..so a big order is a welcome surprise. At this point, I think we are all happy to get anything out of SOMO because its contribution to % of rev is small as scanners have grown and taken over the focus. This order will have a nice impact on revs/eps Q4/Q1, and that will be followed by the seasonally stronger quarters in 2016 as growth continues...so hopefully this gives perspective shareholders the confidence to invest now that they know there will be (fingers crossed) steady profitability for well over a year
I agree. No negative surprises on Q2, albeit not incredibly exciting or unexpected. However, Kevin expects Q3 to be an improvement on Q2 and then there is a nice $1.6M SoMo order which gets recognized in Q4/Q1, which will offset any seasonal slowing. Add in the new 8 series scanner sales and any larger orders, and we could have some really great numbers ahead. To investors, this reassures stability in the foreseeable future and good to hear costs/margins will remain at these levels, so I expect the stock to react favorably with this in mind.
Good scanner growth as SoMo tails off, just wish revenue was higher than $4.5M so more could drop to the bottom line. Expenses were kept in check, which is good if/when the growth they are predicting comes to fruition.
Socket Mobile Reports Profitable Second Quarter and Six Months Results
Second Quarter Net Income of $401,000 up 332% Year Over Year
PR Newswire Socket Mobile, Inc.
NEWARK, Calif., July 29, 2015 /PRNewswire/ -- Socket Mobile, Inc. (SCKT), an innovative provider of mobile barcode scanning products, today reported financial results for its 2015 second quarter and six month period ended June 30, 2015.
Revenue for the second quarter of 2015 was $4.5 million, an increase of 2 percent from revenue of $4.4 million for the same quarter a year ago and an increase of 12 percent sequentially from revenue of $4.0 million in the immediately preceding quarter. Net income for the second quarter of 2015 was $401,000, or $0.07 per share, compared to net income of $93,000, or $0.02 per share, in the second quarter of 2014, and a net loss of $72,000, or $0.01 per share, in the immediately preceding quarter. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA), a non-GAAP measure of operating results, was $588,000, or $0.11 per share, in the second quarter of 2015, compared to $413,000, or $0.08 per share, in the second quarter of 2014 and $108,000, or $0.02 per share, in the immediately preceding quarter.
I might add, I understand if they are withholding pr's until after the Pando verdict, but next court date is in Sept (if they dont settle beforehand). That would be another month + of silence.
I guess we will learn more on the earnings CC. Should be interesting, as the share price has plummeting and we havent received any pr's, recent updates of Red Sun or Magic, lawsuit acknowledgement, recent news on jjv's, distributors, new country launches, etc etc. Good to see xxii up today but those of us who are down huge are a bit frustrated at this point after such positive commentary in the recent past.
reality is, Joe isnt going to get a big payout from this court action, he is spending a lot of his personal money on the legal fees, and he is a 10% stakeholder in a company he is negatively effecting at the moment. Seems to me this whole thing is about pride, pettiness, and, at the end of the day, wont benefit either parties...especially Joe. JMO
SA, just wondering...
Since SoMo hasnt worked out as hoped and the scanners have taken center-stage, has there been any talk of initiatives in creating any new types of products or technologies? Im guessing all the focus is on scanners, staying on top of customer's needs and putting out quality products for the growing mobile scanning industry...but figured I'd ask to see if anything else was also planned.
Thanks for the update. Too bad, as that gave us a some insight as to how things were progressing. Since the company doesnt release many press releases, we will just have to put more weight on what is contained in sec filings and what is said during conference calls. Seems like the strength you tracked for June should bode well for the Q just ended.
Am I the only one that thinks of M&M's when seeing pictures of those colorful scanners? Hey, whatever sells. They do have an attractive and modern aesthetic appeal.
Another positive to note again will the positive impact from the cost re-alignment with European sales in Q2 (vs Q1). It will also be interesting to see how much progress the van line has made.
Thanks for the update, SA. Sounds like things are perking up as (or better) than expected. Let's hope some of which you are unable to track is also following suite, and the momentum continues throughout Q3. Looking forward to the next cc for more color.
I troll through here a couple of times a day and always appreciate your info and insights.
I mean't to say "barcode scanners will be @ 90% of revs in 2015." mPOS is @ 65% of revs now.
and "tip of the spear," not iceberg (for what its worth)!
I listened. Nothing really new, pretty much an overview of Socket's business model. mPOS will be @ 90% of revs in 2015, but "this is just the tip of the iceberg." I like the (largely yet untapped) opportunities ahead for the other areas (commercial, hospitality, health care) as mPOS keeps growing. No mention of how Q2 is progressing other than "Q2 and Q3 are seasonally stronger." Kevin wont be accused of hyping the stock with this presentation, but hopefully this type of exposure gives SCKT some new eyes following the progress as the numbers (hopefully) improve.
That's great news re: the tracking. Add a upside surprise from international or a few large orders and we could see some fireworks when the Q is released. Not holding my breathe but it would be nice.
Now that SHOP is flush with cash, do you think they may see Socket as a take-out target? From Socket's standpoint, it may be better to go it alone and build long term value from a variety of customers. From SHOP's standpoint, they may want to reduce dependance on their hardware suppliers and bring a company like Socket under their umbrella. Just a thought.
High demand for Shopify leads them to increase the offering. High interest is good news for them and their partners, as well as the industry.
The Globe and Mail is reporting that Shopify has increased the maximum share price for its upcoming IPO. According to a regulatory filing today, the Ottawa-based e-commerce platform is seeking to raise as much as $123.2 million (USD), with shares selling between $14-16 USD.
Previous reports had Shopify looking to raise $107.8 million (USD) from 7.7 million shares, sold between $12-14.
The Globe and Mail report also states that Shopify’s initial public offering is expected later this week, which means the company will beat BetaKit by a few days.
Shopify recently passed $5 billion in total sales, with over 160,000 businesses using its software for their online business and eCommerce needs.