IntriCon Corporation (IIN) stock soared 37.20% in the current-market trading session at the price of $23.90 after announcing its financial results for Q4 and full-year 2021.
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IIN is a Joint Development Manufacturer that incorporates assemblies and components to develop micro-medical technology across a wide range of device platforms for global clients.
IIN Q4 2021 Financial Summary
On 28th February 2022, IIN published its financial results for the Q4 and year ended 31st December 2021. The company has also presented its corporate updates. For Q4 of 2021, IIN had net revenue of roughly US$32.2M. Revenue totaled US$30.3M in the prior-year same quarter.
The gross profit margin was 25.2% during the Q4 of 2021 versus 25.7% in the Q4 of 2020. Net income was US$22,000, or per diluted share of $0.00, in the Q4 of 2021. For the same quarter of 2020, net income was US$1.1M, or per share of $0.12. Operating expenses were $8.0M during the fourth quarter.
Year 2021 Financial Results
Intricon calculated net revenue of US$125.2M for the year 2021. Net revenues totaled US$102.8M for the year 2020. The company has a total of US$25.0M in cash and cash equivalents as of 31st December 2021. Cash and cash equivalents were US$28.4M on 31st December 2020.
For 2021, the gross profit margin totaled 25.1% versus 25.5% in the previous year. For 2021, net loss was US$106,000 or per diluted share of $0.01. Net loss totaled US$2.5M, or per diluted share of $0.28, for 2020.
IIN Acquired by Altaris
Earlier on 28th February 2022, IIN announced signing a definitive deal to be acquired by an affiliate of Altaris Capital Partners, an investment company centered solely on the healthcare sector. As per the contract, Altaris will receive all outstanding shares of IIN for US$24.25 per share at an equity value of roughly US$241M. The acquisition price denotes a significant premium of around 39% to INN’s closing stock price on 25th February 2022.