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Saturday, May 28, 2022

Insignia Systems Inc. (ISIG) stock surges in the after-hour trading. Here’s to know why?

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.

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Recent Development

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.

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