Insignia Systems, Inc. Announces First Quarter 2022 Financial Results
Insignia Systems, Inc. (ISIG)
US:NASDAQ Investor Relations:
insigniasystems.com/investor-relations
Company Research
Source: Accesswire
MINNEAPOLIS, MN / ACCESSWIRE / May 10, 2022 / Insignia Systems, Inc. (Nasdaq:ISIG) ("Insignia") today reported financial results for the first quarter ended March 31, 2022 ("Q1").OverviewQ1 2022 net sales increased 14.1% to $6.1 million from $5.4 million in Q1 2021.Q1 2022 operating income was $73,000 compared to an operating loss of $1.8 million in Q1 2021.Q1 2022 net income was $62,000, or $0.03 per basic and diluted share, compared to a net loss of $0.7 million, or $0.42 per basic and diluted share in Q1 2021.Insignia's President and CEO, Kristine Glancy, commented, "We had a very solid start to 2022, growing overall revenue 14.1% versus Q1 2021 driven by our continued focus on growing our display and on-pack businesses which grew revenue 48%. Non-signage revenue accounted for 96% of our total revenue in Q1 2022 compared to 74% in Q1 2021, continuing to grow and expand with both new and existing clients. We were profitable with $73,000 in operating income compared to an operating l
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