Rockford Corporation Quarterly Report: First Quarter Ended March 31, 2012

April 11, 2012

Rockford Corporation (OTCPink: ROFO.PK) reported net sales for its first quarter ended March 31, 2012 increased 23.9% to $20.54 million compared to net sales of $16.57 million for the first quarter of 2011.  Net sales during the first quarter of 2011 primarily benefited from increases in the company’s core aftermarket and international sales channels.

Net income for the first quarter of 2012 jumped 131% to $2.97 million or $0.34 per diluted share versus net income of $1.3 million or $0.14 per diluted share for the first quarter of 2011.  Net income for the first quarter of 2012 benefited from higher a gross profit along with flat operating expenses.

As of March 31, 2012, the balance sheet reflected current assets of $23.24 million, total assets of $24.8 million, current liabilities of $12.46 million and total liabilities of $12.48 million.  During the first quarter of 2012, shareholders’ equity increased 10.8% to $12.33 million.

Rockford Corporation is engaged in the marketing and distribution of high-performance audio systems for the mobile audio aftermarket and the OEM market.

Source: Rockford Corporation


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