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10-Q - FORM 10-Q - INFOSONICS Corpd243160d10q.htm
EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER - INFOSONICS Corpd243160dex312.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER - INFOSONICS Corpd243160dex311.htm
EXCEL - IDEA: XBRL DOCUMENT - INFOSONICS CorpFinancial_Report.xls
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EX-32.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER - INFOSONICS Corpd243160dex321.htm
v2.3.0.15
Discontinued Operations
9 Months Ended
Sep. 30, 2011
Discontinued Operations [Abstract] 
Discontinued Operations

NOTE 11. Discontinued Operations

During the quarter ended June 30, 2008, the Company assessed its business in the United States and Mexico. Due to the changing environment and consolidation in the United States of the smaller regional cellular carriers (the Company's target market) into larger national carriers, along with the Company's inability to penetrate the Mexico market due to challenges of fostering sales relations with the dominant cellular carriers there, management determined that it was necessary to take decisive actions to mitigate further losses. The Company implemented actions necessary to close sales operations in both of those countries, which actions were substantially completed by the end of 2009. The results of the unaudited discontinued operations are as follows (in thousands):

 

     For the Three Months Ended
September 30,
    For the Nine Months  Ended
September 30,
 
     2011      2010     2011      2010  

Net sales

   $ —         $ 1      $ —         $ 64   

Gross profit

     —           1        53         64   

Income (loss)

     7         (22     —           48   

Identifiable assets

     —           925        —           925   

Capital expenditures

     —           —          —           —     

Depreciation and amortization

     —           —          —           —     

Liabilities of discontinued operations consisted primarily of accounts payable. Assets of discontinued operations were as follows (in thousands):

 

     September 30,  2011
(unaudited)
     December 31,  2010
(audited)
 

Cash

   $ —         $ 70   

Accounts receivable

     —           28   

Refundable VAT tax

     —           669   
  

 

 

    

 

 

 

Total

   $ —         $ 767   
  

 

 

    

 

 

 

As of September 30, 2011, the discontinuance of the domestic and Mexican businesses was complete.