Home Top Movers Why Image Sensing Systems, Inc (ISNS) stock could not keep its positive...

Why Image Sensing Systems, Inc (ISNS) stock could not keep its positive momentum in the after-hours on Friday?

Image Sensing Systems, Inc (ISNS) stock gained 41.52% in the normal trading session on Friday, April 30, 2021, but it lost its positivity and declined 6.44% in the after-hours to close at $6.10 per share.ISNS shares have surged 69.35% over the last 12 months, and they have moved up by 51.63% in the past week. Over the past three months, the stock has gained 47.18%, while over the past six months, it has added 79.61%.

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Let’s try to figure out its loss in the after-hours on Friday.


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Recent important strategic changes

On April 29, 2021, Image Sensing Systems, Inc announced important changes with the approval of its Board of Directors.

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  • Image Sensing Systems commencing a quarterly cash dividend of $0.12 per share of common stock to its common shareholders on May 20, 2021.
  • The company approved a buyback program to buy200,000 shares of common stock.
  • The board approved the restructuring of the company as a holding company and Autoscope Technologies Corporation will become the new parent company of Image Sensing Systems.
  • Andrew Berger is appointed as CEO of Autoscope Technologies Corporation and he will transit from Image Sensing Systems.

Recent financial results

On March 11, 2021, Image Sensing Systems, Inc reported results for its fourth quarter and the year ended December 31, 2020.

Q4 2020 highlights

  • Q4 2020 revenue was $2.9 million compared to $3.4 million in the fourth quarter of 2019.
  • Product sales were $1.1 million in the reported quarter compared to $1.5 million in the fourth quarter of 2019.
  • Q4 2020, Gross margin was 77 percent compared to gross margin of 81 percent for the same period in 2019.
  • Image Sensing Systems’ net income was $365,000, or $0.07 per diluted share in Q4 2020 compared to a net loss of $90,000, or $0.02 per diluted share, in Q4 2019.
  • Non-GAAP operating income for the fourth quarter of 2020 was $96,000 compared to $148,000 in the prior-year period. 

FY-2020 highlights

  • ISNS 2020 revenue was $13.2 million compared to $14.7 million in 2019.
  • The gross margin was 79% for 2019 and 2020.
  • Product sales were $4.8 million in 2020, compared to $6.4 million in 2019.
  • ISNS net income for FY 2020 was $1.1 million, or $0.20 per diluted share, compared to $7.0 million, or $1.33 per diluted share, in the FY 2019.
  • Non-GAAP operating income for 2020 was $1.6 million compared to $2.6 million in the prior fiscal year. 

Upcoming Annual general meeting

Image Sensing System’s upcoming AGM is scheduled for 4 May 2021.

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Conclusion

Well, the recent strategic changes could be the reason for its loss or gains on Friday which we are not sure about because there is no other recent news about the company. We are hopeful that ISNS will regain its positive momentum on Monday.

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