ZAGG, Inc. (ZAGG) Investors Hit Exits as FY12 Outlook Boost Misses Views
Tweet Send to a FriendGet Alerts ZAGG Hot Sheet
Trade ZAGG Now!
ZAGG (Nasdaq: ZAGG) shares are getting hit pretty hard Friday following release of its second-quarter 2012 report late Thursday.
Overall, the report looked solid: EPS at 18 cents was in-line with views while sales came in at a better-than-expected $61.6 million. Margins expanded about 240 basis points to 53.9 percent. Net income popped 13.7 percent higher sequentially and 54 percent from last year. Adjusted EBITDA was raised $1 million at both ends, to a range of $56 million to $60 million.
ZAGG even raised its sales outlook for 2012, from $250 million prior up to a new level of $256 million. But, the Street was looking for sales of $261.3 million.
The Street expects more because ZAGG is said to benefit as Apple products like its iPhone and iPad increase sales.
Though its a strong move today, ZAGG usually seems to sell off after earnings. For investors willing to take a risk on the mobile accessory market and have plenty of Pepto at hand, ZAGG's bolstering margins and positive growth outlook could be a catalyst for things to come over the next few months.
Otherwise, leave this one by the roadside. Shares are down well over 16 percent Friday.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Overall, the report looked solid: EPS at 18 cents was in-line with views while sales came in at a better-than-expected $61.6 million. Margins expanded about 240 basis points to 53.9 percent. Net income popped 13.7 percent higher sequentially and 54 percent from last year. Adjusted EBITDA was raised $1 million at both ends, to a range of $56 million to $60 million.
ZAGG even raised its sales outlook for 2012, from $250 million prior up to a new level of $256 million. But, the Street was looking for sales of $261.3 million.
The Street expects more because ZAGG is said to benefit as Apple products like its iPhone and iPad increase sales.
Though its a strong move today, ZAGG usually seems to sell off after earnings. For investors willing to take a risk on the mobile accessory market and have plenty of Pepto at hand, ZAGG's bolstering margins and positive growth outlook could be a catalyst for things to come over the next few months.
Otherwise, leave this one by the roadside. Shares are down well over 16 percent Friday.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Hewlett-Packard Company (HPQ) Tops Q2 EPS by 6c as Sales Slide 10%
- Semtech Corp (SMTC) Reports In-Line Q1 EPS, Offers Q2 Guidance
- Bristow Group (BRS) Misses Q4 EPS by 1c; Guides FY14 EPS
Create E-mail Alert Related Categories
Earnings, GuidanceRelated Entities
Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
