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INFOSONICS ANNOUNCES TWO-FOR-ONE SPLIT OF ITS COMMON STOCK |
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SAN DIEGO, CA, May 31, 2006 - InfoSonics Corporation (AMEX: IFO), one of the fastest growing distributors of wireless handsets in the United States and Latin America, announced today that its Board of Directors has approved a two-for-one split of its outstanding common stock. The split is payable on June 19, 2006 to holders of record on June 9, 2006. The stock split will be accomplished through a 100% stock dividend, providing shareholders with one additional share of common stock for every one share they hold. After the stock split, InfoSonics’ outstanding shares of common stock will increase from the current approximately 6.9 million shares to approximately 13.8 million shares, without considering any exercise or conversion of outstanding options and warrants after May 30, 2006. About InfoSonics Corporation InfoSonics is one of the largest distributors of wireless handsets and accessories in the United States and Latin America. For the wireless telecommunications industry, InfoSonics provides flexible and cost effective solutions, including purchasing, marketing, selling, warehousing, order assembly, programming, packing, shipping, and delivery. InfoSonics supports manufacturers in moving their products to agents, resellers, distributors, independent dealers, retailers and wireless network operators in the U.S. and Latin America. For additional information, please visit http://www.infosonics.com. The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Some of these uncertainties and risks include, but are not limited to, the demand for our products, our ability to obtain our products from our suppliers, our ability to increase customers in new and existing geographic areas, our ability to maintain commercially feasible margins given significant competition, and other factors. In addition, references to past operating results should not be considered to be indicative of future performance. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s analysis only as of the date hereof. InfoSonics undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risks described in other documents that InfoSonics files from time to time with the Securities and Exchange Commission (“SEC”), including our Form 10-K for the year ended December 31, 2004 and our Forms 10-Q for the quarter ended September 30, 2005 and prior periods. Contacts: Jeffrey A. Klausner John Mills or Allyson Pooley |
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