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Socket Mobile Reports Results for the Third Quarter and Nine Months ended September 30, 2018

- October 25, 2018 - NEWARK, Calif., – October 25, 2018 - Socket Mobile, Inc. (NASDAQ: SCKT), a leading innovator of data capture and delivery solutions for enhanced productivity, today reported financial results for its 2018 third quarter and nine months ended September 30, 2018. 

Revenue for the third quarter of 2018 was $4.1 million, a decrease of 24 percent compared to revenue of $5.5 million for the same quarter a year ago. Cordless barcode scanner revenue was $4.1 million for the third quarter of 2018, a decrease of 19 percent over the same quarter a year ago.

Net loss for the third quarter of 2018 was $45,000 or a loss of $0.01 per share, compared to net income of $414,000, or $0.07 per share a year ago.Gross profit margins for the third quarter of 2018 were 52.6 percent, compared to margins of 55.6 percent for the third quarter a year ago.

Non-cordless products and services in the third quarter of 2017 increased quarterly margins by 2.0 percent.Operating expenses for the third quarter of 2018 were $2.2 million compared to operating expenses of $2.3 million for the same quarter a year ago, representing a reduction in operating expenses of 3 percent.

For the nine months ended September 30, 2018, revenue was $12.3 million, a decrease of 27 percent compared to revenue of $16.9 million for the same period a year ago. Nine month cordless barcode scanner revenue was $12.1 million in 2018 compared to $16.3 million in 2017, a year over year decrease of 26 percent.

Net loss for the nine months ended September 30, 2018 was    click here for the full article 

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