Insignia Systems, Inc. Announces First Quarter 2021 Financial Results
Insignia Systems, Inc. (ISIG)
US:NASDAQ Investor Relations:
insigniasystems.com/investor-relations
Company Research
Source: Accesswire
MINNEAPOLIS, MN / ACCESSWIRE / May 6, 2021 / Insignia Systems, Inc. (Nasdaq:ISIG) ("Insignia") today reported financial results for the first quarter ended March 31, 2021 ("Q1").OverviewQ1 2021 net sales increased 15.7% to $5.4 million from $4.7 million in Q1 2020.Q1 2021 operating loss was $1.7 million compared to operating loss of $1.1 million in Q1 2020.Q1 2021 net loss was $0.7 million, or $0.38 per basic and diluted share, compared to net loss of $0.9 million, or $0.50 per basic and diluted share in Q1 2020.Insignia's President and CEO, Kristine Glancy, commented, "2021 revenue is off to a strong start driven by our continued momentum on our non-POPS portfolio. Our non-POPS revenue increased 97% versus Q1 2020 partially offset by our POPS revenue declining 41%. Our non-POPS revenue consisting of our display, on-pack and mobile businesses all experienced growth versus Q1 2020 and contributed 74% of our total Q1 2021 revenue. The team was successful in growing our non-POPS portfoli
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