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Micro-Cap on the Move; Singing Machine Company Inc. (SMDM)

By Warren Paige

Shares of Singing Machine Company Inc. (OTC: SMDM), a developer, producer, marketer and distributor of consumer karaoke audio equipment, accessories, music, musical instruments and licensed youth electronic products, are soaring in trading today.

At last check, SMDM shares were trading 45.95% higher at $0.175 on above average volume of 1.39 million. The stock touched a new 52-week high of $0.39 in trading today.

Singing Machine Company last month announced its financial results for the fiscal year ended March 31, 2012. SMDM reported net sales of $25.9 million for the fiscal year ended March 31, 2012, compared to $19.1 million reported in the previous fiscal year.

Gross margin fell for the fiscal year to 21.8%. SMDM’s net income for the fiscal year was $463,000, compared to a net loss of $599,000 reported in the previous year.

July 20th, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.