Insignia Systems Inc. (ISIG) stock declined by 0.16% at the last trading close whereas the ISIG stock price rises by 25.83% in the after-hours trading. The current change in ISIG stock is not followed by any recent news. Insignia Systems offers a variety of advertisement products, from the in to digital. To include a full suite of shopper experience strategies, consumer packaged goods producers and retailers around the country rely on our deep knowledge in the competitive retail world.
Financial Results 2020
On March 10, 2021, Insignia Systems has announced its fourth quarter and full year 2020 financial results. Given below is the summary:
- The net sales calculated for the fourth quarter 2020 were $5.1 million compared to $6.3 million for the year 2019. Whereas the net sales for the full year 2020 were $17.7 million compared to $22.0 million. This is a decrease of 19.2% and 19.5% respectively, relative to the previous year.
- ISIG’s operating loss for the fourth quarter 2020 was $0.9 million and for the full year, it was $4.6 million comparatively the net loss for the fourth quarter 2019 was $2.5million and $5.6 million for the full year 2019.
- Lastly, the net loss for the fourth quarter 2020 was $0.9 million compared to $2.5 million in Q4 2019. And for the full year 2020, the net loss was $4.3 million and $2.94 million for the full year 2019.
The CEO added,
COVID made 2020 a tough year for ISIG, but they are still satisfied with the progress that ISIG has made, which was largely driven by non-POPS sales. Also, they anticipate greater stress on their POPS business in 2021, particularly with their 10-year selling agreement with News America Marketing set to expire in April 2021. Despite the fact that 2020 was a difficult year for ISIG, the team worked tirelessly to navigate the unique climate, create pathways for future development, and improve our overall strategy and structure.