Shares of Lake Forest-based Comarco Inc. rose Tuesday after the company said it hired a financial adviser to “improve shareholder value.”
The stock rose nearly 4% on a market value of about $45 million.
The company, best known for making and servicing emergency call boxes found on highway roadsides, said it hired Palo Alto-based Pagemill Partners LLC to help it review its business model.
Comarco has a handful of disparate businesses under one roof:
In addition to emergency call boxes, it makes power adapters that charge notebook computers, cell phones and other mobile devices.
Another line of business makes devices and software used to maintain wireless networks.
“This is an important step in our efforts to rationalize three very different businesses operating under one roof and to improve Comarco’s long-term financial performance,” said Chief Executive Tom Franza.
The company’s stock has fallen by roughly 40% from its peak at the end of last year.
