Insignia Systems, Inc. Announces Fourth Quarter and Full Year 2020 Financial Results
Insignia Systems, Inc. (ISIG)
US:NASDAQ Investor Relations:
insigniasystems.com/investor-relations
Company Research
Source: Accesswire
MINNEAPOLIS, MN / ACCESSWIRE / March 9, 2021 / Insignia Systems, Inc. (NASDAQ:ISIG) ("Insignia") today reported financial results for the fourth quarter ("Q4") and the full year ended December 31, 2020.OverviewQ4 2020 net sales decreased 19.2% to $5.1 million from $6.3 million in Q4 2019.Q4 2020 operating loss was $0.9 million compared to operating loss of $2.5 million in Q4 2019.Q4 2020 net loss was $0.9 million, or $0.50 per basic and diluted share, compared to net loss of $2.5 million, or $1.43 per basic and diluted share in Q4 2019.2020 net sales were $17.7 million, a decrease of 19.5% from $22.0 million in 2019.2020 operating loss was $4.6 million compared to operating loss of $5.6 million in 2019.2020 net loss was $4.3 million, or $2.48 per basic and diluted share, compared to net loss of $5.0 million, or $2.94 per basic and diluted share in 2019.Insignia's President and CEO, Kristine Glancy, commented, "2020 was a challenging year in our industry due to COVID, however I'm very
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