search icon
      blog search icon

      Insignia Systems, Inc. (ISIG) Stock Surged 200.40% Monday, Here’s Why - Stocks Telegraph

      By Iqra Jamal

      Published on

      December 7, 2021

      6:58 AM UTC

      Insignia Systems, Inc. (ISIG) Stock Surged 200.40% Monday, Here’s Why - Stocks Telegraph

      Insignia Systems, Inc. (ISIG) stock surged 200.40% on Monday at the price of $15.05 following the announcement of the review of strategic alternatives.

      Insignia Systems, Inc. (ISIG) provides a wide range of product solutions from in-store to digital advertisement. The company offers a full suite of shopper engagement solutions to the retailers of consumer-packaged goods (CPG) all across the country.  

      ISIG Published Review of Strategic Alternatives 

      On 6th December 2021, ISIG published that it had initiated a formal process to explore strategic alternatives to improve shareholder value. Potential strategic options include a merger, acquisition, in-licensing, business combination, or other strategic transaction. The company has not yet scheduled a timetable to complete the review procedure and there is no guarantee that this process will result in any transaction. The company will disclose further information after the approval from its Board of Directors.

      ISIG Third Quarter 2021 Financial Results 

      On 4rth November 2021, ISIG reported its financial results for the third quarter ended 30th September 2021. The company has also provided its business updates.  

      Financial Summary 

      For the third quarter of 2021, ISIG reported sales of $3,493,000. It represents a drop of 21.2% from $4,435,000 for the third quarter of 2020. For the third quarter of 2021, gross profit declined to $545,000, or 12.6% of net sales. Gross profit totaled $559,000 for the third quarter of 2020. As of 30th September 2021, the company reported cash and cash equivalents of $3.7 million. Cash and cash equivalents were $7.1 million on 31st December 2020. The gain on the sales was $195,000, or 4.3% of net sales for the third quarter of 2021. 

      For the third quarter ended 30th September 2021, selling expenses were $425,000, or 12.2% of net sales. Selling costs were $585,000 for the third quarter of 2020. ISIG reported general and administrative expenses of $779,000, or 22.3% of net sales, for the third quarter of 2021. G&A expenses were $840,000 for the third quarter ended 30th September 2020. Net loss was $921,000, or per basic and diluted share of $0.52, for the third quarter of 2021. For the third quarter of 2020, net loss was $886,000, or per basic and diluted share of $0.51.

      More From Stocks telegraph