InPhonic Inc. / INPC

About InPhonic Inc.

1010 Wisconsin Ave. NW, Suite 600, Washington, D.C. 20007
www.inphonic.com | 202-333-0001 | Founded: 1999

Industry: Telecommunications | Category: Top 100 Companies

InPhonic's performance in 2005 was far from stellar.
The company's loss for the year widened to $38.2 million from a $10.2 million loss the year before.
In a statement coinciding with the year-end results, chief executive David A. Steinberg said the company's financials were "disappointing and came in below our expectations."
The losses rose partly because of charges related to the sale of Liberty Wireless, a pay-as-you-go cellphone service. TelePlus Enterprises, a Canadian telecom firm, bought Liberty for $1.9 million in cash.
The company also said its holiday sales were less than expected. Originally the firm forecast that its fourth-quarter revenue would fall between $104 million and $106 million. It later lowered those projections but still missed analyst expectations, with fourth-quarter revenue totaling $85.2 million. The company also warned that its 2006 operating margins would be lower than expected because of a new commission structure.
InPhonic's stock steadily declined last year. It went public in November 2004 and by the end of that year was trading above $28 a share. By this March shares of InPhonic closed below $6. In August 2005, the company announced a plan that allows it to buy back as much as $30 million in stock.
For the year, InPhonic's revenue rose to $320.5 million from $154.9 million in 2004.

2007 Financial Data

Total employees: 485 | Local employees: 465