RTTNews | Jul 23, 2021 10:50AM EDT

10:49 Friday, July 23, 2021 (RTTNews.com) - Shares of Socket Mobile Inc. (SCKT) are surging over 80% on Friday morning after the company reported its second-quarter results.

SCKT is currently trading at $10.56, up $4.76 or 82.06%, on the Nasdaq, on a volume of 27.4 million shares, above average volume of 174 thousand shares. The stock has traded between $1.11 and $35.00 in the 52 week period. The stock has gained over 550% in that period.

Revenues for the second quarter increased 119% to $6.0 million from $2.7 million last year, driven by the deployments of business applications in the retail industry. Second-quarter net income was $2.6 million or $0.27 per share, compared to net loss of $768 thousand or $0.13 per share last year.

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