Insignia Systems Inc. (ISIG, Financial) filed Annual Report for the period ended 2011-12-31.
Insignia Sys has a market cap of $28.7 million; its shares were traded at around $1.66 with a P/E ratio of 19.3 and P/S ratio of 1.
General and Administrative. General and administrative expenses for the year ended December 31, 2011 decreased 1.0% to $5,495,000 compared to $5,549,000 for the year ended December 31, 2010, primarily due to reduced legal fees of $493,000, partially offset by increased staffing-related expenses of $439,000. General and administrative expenses as a percentage of total net sales increased to 31.9% in 2011 compared to 18.5% in 2010, primarily due to lower net sales in 2011.
Service revenues from our POPSign programs for the year ended December 31, 2010 increased 2.1% to $27,231,000 compared to $26,666,000 for the year ended December 31, 2009. The increase was primarily due to an increase of 7.1% in the average sign price, which was partially offset by a 5.2% decrease in the number of signs placed. The expiration of the retailer contract with The Kroger Co. on December 31, 2010, could have a material adverse impact on service revenues for the 2011 year. In 2010 and 2009, revenue recognized by advertising in Kroger stores was $9,417,000 and $9,883,000, respectively. The positive impact of the arrangement to sell signs with price into News Americas network of retailers cannot be determined at this time.
Gross profit from our POPSign program revenues for the year ended December 31, 2010 decreased 2.8% to $14,248,000 compared to $14,652,000 for the year ended December 31, 2009. The decrease in gross profit of $404,000 was primarily due to an increase in retailer expenses, which more than offset the effect of increased services revenues. Gross profit as a percentage of POPSign program revenues decreased to 52.3% for 2010 compared to 55.0% for 2009, due primarily to the increase in retailer expenses.
The Company has financed its operations with proceeds from public and private stock sales and sales of its services and products. At December 31, 2011, working capital was $22,671,000 compared to $12,505,000 at December 31, 2010. During the year ended December 31, 2011, cash, cash equivalents, and short-term investments increased by $9,506,000 from $13,696,000 at December 31, 2010 to $23,202,000 at December 31, 2011.
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Insignia Sys has a market cap of $28.7 million; its shares were traded at around $1.66 with a P/E ratio of 19.3 and P/S ratio of 1.
Highlight of Business Operations:
Service revenues from our POPSign programs for the year ended December 31, 2011 decreased 44.8% to $15,032,000 compared to $27,231,000 for the year ended December 31, 2010. The decrease was primarily due to a 78% decrease in the number of signs placed as well as a 2% decrease in the average sign price. The expiration of the retailer contract with The Kroger Co. on December 31, 2010, had a significant impact on service revenues for the 2011 year. In 2010 and 2009, revenue recognized by advertising in Kroger stores was approximately $9,417,000 and $9,883,000, respectively. The impact of the arrangement to sell signs with price into News Americas network of retailers is expected to be more significant in 2012.General and Administrative. General and administrative expenses for the year ended December 31, 2011 decreased 1.0% to $5,495,000 compared to $5,549,000 for the year ended December 31, 2010, primarily due to reduced legal fees of $493,000, partially offset by increased staffing-related expenses of $439,000. General and administrative expenses as a percentage of total net sales increased to 31.9% in 2011 compared to 18.5% in 2010, primarily due to lower net sales in 2011.
Service revenues from our POPSign programs for the year ended December 31, 2010 increased 2.1% to $27,231,000 compared to $26,666,000 for the year ended December 31, 2009. The increase was primarily due to an increase of 7.1% in the average sign price, which was partially offset by a 5.2% decrease in the number of signs placed. The expiration of the retailer contract with The Kroger Co. on December 31, 2010, could have a material adverse impact on service revenues for the 2011 year. In 2010 and 2009, revenue recognized by advertising in Kroger stores was $9,417,000 and $9,883,000, respectively. The positive impact of the arrangement to sell signs with price into News Americas network of retailers cannot be determined at this time.
Gross profit from our POPSign program revenues for the year ended December 31, 2010 decreased 2.8% to $14,248,000 compared to $14,652,000 for the year ended December 31, 2009. The decrease in gross profit of $404,000 was primarily due to an increase in retailer expenses, which more than offset the effect of increased services revenues. Gross profit as a percentage of POPSign program revenues decreased to 52.3% for 2010 compared to 55.0% for 2009, due primarily to the increase in retailer expenses.
The Company has financed its operations with proceeds from public and private stock sales and sales of its services and products. At December 31, 2011, working capital was $22,671,000 compared to $12,505,000 at December 31, 2010. During the year ended December 31, 2011, cash, cash equivalents, and short-term investments increased by $9,506,000 from $13,696,000 at December 31, 2010 to $23,202,000 at December 31, 2011.
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