Wireless Xcessories Group Inc. Announces Financial Results for the Fourth Quarter and Year Ended December 31, 2012
April 23, 2013 at 04:45 pm EDT
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Wireless Xcessories Group Inc. announced financial results for the fourth quarter and year ended December 31, 2012. The company reported fourth quarter revenue of $12,462,110 compared to $6,417,450 for the same period in 2011, or an increase of 94.0%. The company had fourth quarter income from operations in 2012 of $323,453 or $0.08 per share compared to an operating loss of $14,089 or $0.00 in 2011. The company had a 2012 fourth quarter net income of $284,162 or $0.07 per share, compared to $135,848 or $0.03 per share in the same period for 2011.
Full year comparisons were revenue of $40,243,548 compared to $22,351,300 for 2011, an increase of approximately 80.0%. Full year comparisons were income from operations were $806,095 or $0.20 per share in 2012, compared to a loss of $163,657 or $0.04 in 2011. Full year comparisons were a net income of $584,044 or $0.15 per share in 2012, compared to $133,600 or $0.03 per share in the same period for 2011.
Wireless Xcessories Group, Inc. designs, manufactures and distributes accessories for cellular phones. The Company offers around 3,500 items that include batteries, hands free devices, car and travel chargers, as well as carrying cases. The Company provides accessory solutions to the wireless retail channel. The Company stocks a range of phone parts for Apple and Samsung devices, such as Apple iPhone 4, 4S, 5, 5S, 5C, iPad 2, 3, 4, iPad Mini, iPad Air, Samsung Galaxy S3, Galaxy S4, Galaxy S5, Note 2 and Note 3. The Company carries a variety of replacement parts, such as full liquid-crystal display (LCD) assemblies, including small parts, Samsung original equipment manufacturer (OEM) LCDs, LCD/digitizer/glass assemblies, tempered glass, speakers, buttons, front/rear cameras, charging docks and audio ports. The Company sells products to dealers and distributors through an in-house sales force and directly from its Website.