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Summary
- Monaco-based Safe Bulkers’ first-quarter net income totaled US$21.3 million.
- Sonim Technologies received a US$10 million order for rugged feature phones.
Safe Bulkers, Inc. (NYSE:SB) and Sonim Technologies, Inc. (NASDAQ:SONM) are among the hot penny stocks to explore this month.
Safe Bulkers have reported strong March quarter results while Sonim Technologies targets to boost its orders with new products and partnerships.
Safe Bulkers, Inc. (NYSE:SB)
Safe Bulkers is a marine dry-bulk transportation services company based in Monaco. It transports various metals and minerals and food grains.
Safe Bulkers’ stock is listed on the NYSE, and it has a 52-week trading range of 82 cents to US$4.46. Safe Bulkers’ market cap is around US$470 million. The stock price soared 210 percent year to date and 318 percent in the last one year.
Safe Bulkers reported a net income of US$21.3 million in Q1, up from a net loss of US$9.9 million. Adjusted EPS came in at 14 cents per share, compared with a loss of 13 cents earlier. Net revenue increased to US$62.5 million from US$45.7 million. Additionally, it repaid US$27.3 million of debt following the sale of two vessels.
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Source: Pixabay
Sonim Technologies, Inc. (NASDAQ:SONM)
The Texas-based company provides rugged mobile phones and accessories and handheld computers. It operates in Europe and North America. Sonim sells mobility wireless solutions, including AT&T and Verizon. Recently, it partnered with T-Mobile’s distributor Business Mobility Partners to provide devices to T-Mobile business and government customers.
Announcing its March quarter results, the company said it has secured a US$10 million order for its phones from a new client. Sonim is a NASDAQ-listed company and has a market capitalization of US$30.9 million. The stock has a 52-week trading range of 42 cents to US$1.7. The share price is down 37 percent year to date, and it declined 53 percent in the last one year.
In the first quarter ended March 31, net loss narrowed to US$9.3 million or 14 cents per share, from a loss of US$10 million, or 48 cents in the year-ago period. Net revenues during the quarter totaled US$12.2 million, compared to US$12.7 million in Q1 of the previous year.
Total operating expenses rose to US$11.5 million from US$11.2 million in the year-ago quarter. The company said legal costs impacted its operating expenses in the quarter.
