InfoSonics and Samsung Renew Their Agreement for South America.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- InfoSonics Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :IFON), one of the fastest growing distributors of wireless handsets serving Latin America and the United States, announced today that it has renewed its distribution agreement with Samsung Electronics Argentina S.A. through December 31, 2007. Under the agreement, InfoSonics will continue to provide distribution solutions in Argentina, Uruguay and Paraguay for a variety of Samsung wireless telecommunication devices and related accessories to carriers, retailers and agents. "We are pleased to continue working with Samsung in this South American region," said Joseph Ram, President and Chief Executive Officer of InfoSonics. "The cooperation between Samsung and InfoSonics has proven to be a mutually beneficial partnership which has yielded an increase in handsets sold in the region, strong brand awareness and enhanced product positioning. We are working diligently with Samsung to offer a comprehensive line up of products for 2007." "We look forward to our continued relationship with InfoSonics, as we have shared success over the past couple of years, and believe the future holds more opportunity for us together," stated Obdulio Baez, Vice President of Samsung Electronics Argentina S.A. About InfoSonics Corporation InfoSonics is one of the fastest growing providers of wireless handsets and accessories. It sells OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and and proprietary handsets and accessories to network operators in Latin America and the United States. Additionally, InfoSonics provides flexible and cost effective solutions including product design and development, product certification and homologation Certification, confirmation or approval. Data communications equipment is often subject to the homologation requirements of various countries. , product assembly packaging and logistics, 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 Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 The matters in this report that are forward-looking statements, including without limitation to statements about future revenues, sales levels, operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. 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 devaluation, decreasing the value of one nation's currency relative to gold or the currencies of other nations. It is usually undertaken as a means of correcting a deficit in the balance of payments. 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 accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying concentration risk; (12) rapid product improvement and technological change resulting in inventory obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. ; (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; (21) the impact, if any, of changes in EITF EITF Emerging Issues Task Force EITF Edinburgh International Television Festival EITF Europe International Taekwon-Do Federation 00-19 or SFAS SFAS Statement of Financial Accounting Standards SFAS Special Forces Assessment and Selection SFAS Student Financial Aid Services SFAS Sport Fishing Association of Singapore SFAS Safety Features Actuation System SFAS Statewide Fixed Assets System 133 guidance as it relates to warrants and registration rights; and (22) the resolution of any litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. against the company. 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2005 and its Quarterly Report on Form 10-Q Form 10-Q See 10-Q. , as amended, for the quarter ended September 30, 2006; 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. |
|
||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion