InfoSonics Approved for Listing on the NASDAQ Global Market; Trading is Expected to Commence on August 3, 2006, under the Ticke
20 Luglio 2006 - 10:01PM
Business Wire
InfoSonics Corporation (AMEX:IFO), one of the fastest growing
distributors of wireless handsets in the United States and Latin
America, announced today that the NASDAQ Stock Market ("NASDAQ")
has approved its application for listing on the NASDAQ Global
Market. InfoSonics expects to commence trading on the NASDAQ Global
Market under the new ticker symbol "IFON", effective at market
opening on August 3, 2006. Until that time, InfoSonics' stock will
continue to trade on the American Stock Exchange under the symbol
"IFO". Joseph Ram, President and CEO, said, "We are extremely
pleased that our listing application has been approved. A NASDAQ
listing is a significant milestone for us, and highlights our
continued commitment to enhance shareholder value. Trading on
NASDAQ should help increase the liquidity of the stock, and give
higher visibility to the Company." About InfoSonics Corporation
InfoSonics is one of the fastest growing distributors of wireless
handsets and accessories in the United States and Latin America.
InfoSonics provides end-to-end handset and wireless terminal
solutions for network operators in both the United States and Latin
America. These solutions include product approval and
certification, light assembly, logistics services, marketing
campaigns, warranty services and end user support. For more
information please visit http://www.infosonics.com. Cautionary
Statement for the Purpose of the Safe Harbor Provisions of the
Private Securities Litigation Reform Act of 1995 The matters in
this report that are forward-looking statements, including without
limitation to statements about future revenues, sales levels,
operating income and margins, wireless handset sales, stock-based
compensation expense, gain (loss) in value of derivatives, cost
synergies, operating efficiencies, profitability, market share and
rates of return, are based on current management expectations that
involve certain risks which, if realized, in whole or in part,
could cause such expectations to fail to be achieved and have a
material adverse effect on InfoSonics' business, financial
condition and results of operations, including, without limitation:
(1) intense competition, regionally and internationally, including
competition from alternative business models, such as
manufacturer-to-carrier sales, which may lead to reduced prices,
lower sales or reduced sales growth, lower gross margins, extended
payment terms with customers, increased capital investment and
interest costs, bad debt risks and product supply shortages; (2)
inability to secure adequate supply of competitive products on a
timely basis and on commercially reasonable terms; (3) foreign
exchange rate fluctuations, devaluation of a foreign currency,
adverse governmental controls or actions, political or economic
instability, or disruption of a foreign market, and other related
risks of our international operations; (4) the ability to attract
new sources of profitable business from expansion of products or
services or risks associated with entry into new markets, including
geographies, products and services; (5) an interruption or failure
of our information systems or subversion of access or other system
controls may result in a significant loss of business, assets, or
competitive information; (6) significant changes in supplier terms
and relationships; (7) termination of a supply or services
agreement with a major supplier or product supply shortages; (8)
continued consolidation in the wireless handset carrier market; (9)
extended general economic downturn; (10) loss of business from one
or more significant customers; (11) customer and geographical
accounts receivable concentration risk; (12) rapid product
improvement and technological change resulting in inventory
obsolescence; (13) future terrorist or military actions; (14) the
loss of a key executive officer or other key employees; (15)
changes in consumer demand for multimedia wireless handset products
and features; (16) our failure to adequately adapt to industry
changes and to manage potential growth and/or contractions; (17)
future periodic assessments required by current or new accounting
standards such as those relating to long-lived assets, goodwill and
other intangible assets and expensing of stock options and valuing
gain or loss on fair value of derivatives may result in additional
non-cash income or expenses; (18) seasonal buying patterns; (19)
dependency on Latin American sales; and (20) uncertain political
and economic conditions internationally; and (21) the impact, if
any, of changes in EITF 00-19 or SFAS 133 guidance as it relates to
warrants and registration rights. Our actual results could differ
materially from those anticipated in our forward looking
statements. InfoSonics has instituted in the past and continues to
institute changes to its strategies, operations and processes to
address these risk factors and to mitigate their impact on
InfoSonics' results of operations and financial condition. However,
no assurances can be given that InfoSonics will be successful in
these efforts. For a further discussion of significant factors to
consider in connection with forward-looking statements concerning
InfoSonics, reference is made to Item 1A Risk Factors of
InfoSonics' Annual Report on Form 10-K for the year ended December
31, 2005 and Quarterly Report on Form 10-Q, as amended; other risks
or uncertainties may be detailed from time to time in InfoSonics'
future SEC filings. InfoSonics does not intend to update any
forward-looking statements.
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