Socket Mobile revenue down yoy, up from previous quarter

Socket Mobile, Inc. (OTC: SCKT) said its revenue for the first quarter of 2014 was USD3.8m, a decrease of 11 percent compared to revenue of USD4.3m for the same quarter a year ago, and an increase of three percent sequentially from revenue of USD3.7m in the immediately preceding quarter.

Net loss for the first quarter of 2014 was USD72,000, or a loss of USD0.01 per share, compared to net income of USD75,000, or USD0.02 per share, in the first quarter of 2013 and a net loss of USD418,000, or a loss of USD0.09 per share, in the immediately preceding quarter. Gross profit on revenue for the first quarter of 2014 was 42.8 percent compared to 40.0 percent for the same quarter a year ago and 41.1 percent for the immediately preceding quarter.

Operating expenses for the first quarter of 2014 were USD1.55m, flat compared to operating expenses of USD1.55m for the same quarter a year ago, and a decrease of 13 percent compared to operating expenses of USD1.78m in the immediately preceding quarter. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA), a non-GAAP measure of operating results, was USD0.2m or USD0.04 per share compared to EBITDA earnings of USD0.3m or USD0.07 per share for the first quarter a year ago and an EBITDA loss of USD0.1m, or USD0.03 per share for the immediately preceding quarter.

Founded in 1992, Socket Mobile is a leading innovator of mobile devices and productivity tools for retail point-of-sale, field service, healthcare, and other mobile markets. Its website is at www.socketmobile.com.

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