Reuters logo
UPDATE 2-Zagg 4th-qtr profit beats Street, shares up
February 27, 2012 / 11:47 PM / 6 years ago

UPDATE 2-Zagg 4th-qtr profit beats Street, shares up

(Adds CEO comments From conference call, updates share movement)

* Q4 adj EPS $0.27 vs est $0.20

* Q4 rev up 131 pct to $67.5

* Sees FY 2012 rev of $250 mln vs est $240.7 mln

* Shares up 7 pct (Adds conference call details)

Feb 27 (Reuters) - Zagg Inc posted a fourth-quarter profit that blew past market estimates and forecast full-year sales ahead of expectations as the mobile accessories maker looks to gain from the launch of Apple Inc’s much-awaited iPad 3.

“We think the iPad 3 will be even more impactful than iPad 2 for Zagg,” said Chief Executive Robert Pedersen in a post-earnings call.

The company said it expects average selling prices on products to increase as a percentage of revenue due to higher adoption of tablets.

Zagg’s invisibleSHIELD, which provides scratch protection for touchscreen devices, has seen brisk sales, especially after the launch of iPhone 4S in October last year.

Net profit attributable to stockholders was $9.9 million, or 32 cents a share, compared with $3.4 million, or 13 cents a share, a year ago.

Excluding items, the company -- whose clients include AT&T , Best Buy Co Inc and Navarre Corp -- earned 27 cents a share, topping analysts’ estimate by 7 cents.

Revenue rose 131 percent to $67.5 million, while analysts were expecting $64 million.

Shares of the company were up as much as 7 percent in after-hours trade. They closed at $10.06, up nearly 4 percent, on the Nasdaq. (Reporting by Chandni Doulatramani in Bangalore; Editing by Anil D‘Silva)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below