Socket Mobile Q2 revenue falls 25% as retail market weakens
SCKT•Outlook
- Company expects cost management initiatives to continue for the remainder of the yr
- Socket Mobile says market conditions remain uncertain
- Company focuses on expanding opportunities for data capture solutions across vertical markets
Overview
- US data capture solutions provider's Q2 revenue fell 25% yr/yr amid retail market challenges
- Q2 operating loss widened to $1.2 mln from $677,000 a year ago
- Company says cost management initiatives will continue as it aligns expenses with demand
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | $3.03 mln | ||
| Q2 Net Loss | $1.35 mln | ||
| Q2 Operating Expenses | $2.60 mln | ||
| Q2 Operating Income | -$1.20 mln |
Result drivers
- Retail market challenges - Co said continued challenges in the retail market weighed on Q2 results, per CEO Dave Holmes
- - Co said it is continuing cost management initiatives to align expenses with business conditions
