SAN DIEGO—Wireless handset distribution company InfoSonics Corp. saw its second-quarter profit fall due to stock-option charges.
Net income for the quarter was $127,000, down significantly from net income of $408,000 during the same period last year. Excluding the stock-options charges, net income would have been $1.3 million, said the company.
Net sales for the quarter totaled $58.3 million, up 79 percent from sales of $32.5 million during the second quarter last year.
The wireless handset distributor said its geographic distribution of sales shifted significantly during the quarter, with U.S. sales falling sharply while sales in South and Central America picked up. South and Central America accounted for 94 percent of InfoSonics’ sales during the quarter, compared with 65 percent during the second quarter last year.
