Tue. Sep 21st, 2021

Socket Mobile (NASDAQ:SCKT) spotted trading -71.14% off 52-week high price. On the other end, the stock has been noted 1228.95% away from the low price over the last 52-weeks. The stock changed 7.56% to recent value of $10.1. The stock transacted 2002309 shares during most recent day however it has an average volume of 4.60M shares. The company has 6.04M of outstanding shares and 4.70M shares were floated in the market.

On Feb. 24, 2021, Socket Mobile (NASDAQ:SCKT) a leading innovator of data capture and delivery solutions for enhanced workplace productivity, declared financial results for the fourth quarter and year ended December 31, 2020.

The 2020 fourth quarter revenue was $4.7 million compared to $4.6 million in the fourth quarter of 2019. Gross margin from the fourth quarter of 2020 was 53.2 percent compared to 53.1 percent from the same period in 2019. Operating expenses for the fourth quarter decreased 12.4 percent to $1.9 million, compared to $2.2 million in fourth quarter of 2019. Net income attributable to common shareholders for the fourth quarter of 2020 was $1.6 million, or $0.26 per basic and $0.23 per fully diluted share, compared to a net income of $0.06 million or 0.01 per basic and fully diluted share for the same period last year. Net income for the fourth quarter 2020 includes a one-time non-cash gain upon debt extinguishment of $1.1 million related to the loan forgiveness under the Paycheck Protection Program (PPP).

Revenue for the full year of 2020 was $15.7 million compared to $19.3 million in 2019. Gross margin for 2020 was 53.1 percent compared to 52.5 percent in 2019. Operating results in 2020 were a net loss of $0.54 per basic and fully diluted share or $3.3 million, which includes a non-cash goodwill impairment charge of $4.4 million and a non-cash gain upon debt extinguishment of $1.1 million related to the forgiveness of the Company’s PPP loan, compared to a net income of $0.05 per basic and fully diluted share or $0.3 million in 2019.

Its earnings per share (EPS) expected to touch remained 149.30% for this year. SCKT has a gross margin of 53.10% and an operating margin of -30.00% while its profit margin remained -30.70% for the last 12 months.

According to the most recent quarter its current ratio was 1.4 that represents company’s ability to meet its current financial obligations. The price moved ahead of 68.79% from the mean of 20 days, 154.47% from mean of 50 days SMA and performed 350.98% from mean of 200 days price. Company’s performance for the week was -22.61%, 259.43% for month and YTD performance remained 324.37%.

Lena Connors writes related to the Trending News Category. She manages to cover anything. Angelica is our freelance contributor. Lena is responsible for covering reporting in Trending finance and business categories. Lena has experience of 5 years as reporter to Trending News insights.

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