Socket Mobile, Inc. (SCKT) research, news, and more from GeoInvesting

Company description

Tue, 30 Apr 2013 04:00:00 GMT

Socket Mobile, Inc. produces and sells mobile handheld computers and data collection products for the business mobility market. The company offers products to run mobile applications that enable the accessing, collection, and processing of data by using Bluetooth and wireless local area network (LAN) connection technologies. Its product line includes a family of handheld computer products for business enterprise uses; wearable cordless ring scanners for industrial applications; and a range of data collection products, including two dimensional (2D) and linear (1D) bar code scanners, plug-in radio frequency identification reader/writer products, and plug-in magnetic stripe readers that work with the company’s handheld computers, as well as 2D and 1D cordless hand scanners, which work with third-party mobile handheld devices, such as smartphones, tablet computers, ultra-mobile personal computers, notebooks, and desktop systems. The company also offers wearable ring scanners, customized versions of its handheld computers, embedded wireless LAN cards, and Bluetooth modules as original equipment manufacturer products to third party companies; and provides extended warranty and accidental breakage coverage services for products, including handheld computers and barcode scanners. It markets its products through a network of distributors and resellers, as well as through OEMs and value added resellers in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company was formerly known as Socket Communications, Inc. and changed its name to Socket Mobile, Inc. in April 2008. Socket Mobile, Inc. was founded in 1992 and is headquartered in Newark, California.

Research

Thu, 21 Apr 2016 04:00:00 GMT

SCKT ($3.32) - SCKT produces mobile devices and tools for the retail point-of-sale, field service, healthcare, and other mobile markets.

SCKT has been on our radar thanks to GeoContributor W. Xion who published an idea on $SCKT, detailing why the technology company can take advantage of the growing POS payment solutions industry, and the advantages the company has over some of its peers. You can seethe article here. Stock was trading at $2.35 at the time of his article.

The Company reported Q1 2016 results:

Sales of $5.0 million vs $4.0 million in the prior year
EPS of $0.08 vs a loss of $0.01 in the prior year

Quotes from management

Kevin Mills, president and chief executive officer, commented, "We are pleased to achieve first quarter revenue growth of 26 percent year over year and our fourth consecutive quarter of profitability. Our data capture revenue, which comprised 79 percent of total quarterly revenue, grew 16 percent over the same quarter in the prior year, and our SoMo handheld computer product also contributed as we delivered some last time buy orders during the quarter. Our data capture business continues to be driven by third party mobile applications with the emerging mobile point of sale (mPOS) market leading the way. We expect these trends to continue during the second and third quarters, which are typically the strongest selling periods for these types of applications. In addition to mPOS applications, other key markets being addressed by registered third party developers include hospitality, asset management and various commercial services and enterprise mobility applications," Mills concluded.