Shares of Lake Forest’s Comarco Inc., which designs and markets slim power adapters that charge notebook computers, digital cameras, cell phones and other mobile gear, continued a bullish run on Friday after the company quadrupled sales and neared profitability in the recently ended quarter.
Investors sent shares up more than 40% in late afternoon New York trading, albeit on a relatively small market value of about $20 million.
For the three months through July, Comarco reported sales of $8 million, up from $3 million a year earlier.
Comarco narrowed its loss to $700,000, compared to the $1.6 million it lost a year earlier.
Chief Executive Sam Inman said the company saw a boost from sales of its ChargeSource products to Anaheim’s Targus Inc., a maker of laptop bags, backpacks and computer accessories, and Chinese computer maker Lenovo Group Ltd.
Results “were largely driven by sales from initial shipments of our ChargeSource power adapters to Targus,” he said. “We are optimistic that the quarter represents the beginning of our sales momentum as we anticipate that we will begin shipping our next-generation, ‘slim and light’ power adapters to both Lenovo and Targus over the next few quarters.”
Inman said Comarco is currently developing an adapter product for Dell Inc. that’s set to launch next year.
Comarco slimmed down in the past year,it sold off two businesses in order to focus on its ChargeSource line.
Last year, Switzerland’s Ascom Holding AG bought a former Comarco unit that makes and services wireless testing gear for $13 million.
Before that, Comarco sold off its business making and servicing emergency roadside call boxes to Case Systems LLC.
