ZAGG, Inc. (ZAGG) Misses Q2 EPS by 6c, Revenues Beat; Offers FY18 Outlook

ZAGG, Inc. (NASDAQ: ZAGG) reported Q2 EPS of $0.11, $0.06 worse than the analyst estimate of $0.17. Revenue for the quarter came in at $118.6 million versus the consensus estimate of $116.92 million.

"Our solid second quarter performance contributed to a very strong first half of 2018," commented Chris Ahern, Chief Executive Officer. "We continue to execute the product, distribution and brand building strategies that have produced market leading positions for our InvisibleShield and mophie businesses. With our focus on driving operational excellence throughout our organization combined with current industry trends, we believe there is a long runway for global growth within the mobile lifestyle market. This includes our more established categories such as screen protection and power cases as well as power management where I believe we are just starting to scratch the surface of our potential in wireless charging. Looking ahead, I am excited about our prospects for continued growth for the remainder of this year and beyond."

“Additionally, we’re excited about the acquisition of the BRAVEN audio brand,” continue Mr. Ahern. “BRAVEN is a category creator and leader in technology, and expands our house of brands into new segments of the large and growing audio category while leveraging our global distribution to rapidly scale the company. Together, we look forward to continuing the BRAVEN brand heritage of developing intelligently designed products with cutting-edge innovation and craftsmanship.”

2018 Business Outlook

The Company updated its annual guidance for 2018 to reflect a lower projected annual effective tax rate:

• Net sales of $550 million to $570 million
• Gross profit margin as a percentage of net sales in the low to mid 30's range
• Adjusted EBITDA of $77 million to $80 million
• Diluted earnings per share of $1.30 to $1.50
• Annual effective tax rate of approximately 25% compared to approximately 27% in the last annual business outlook

GUIDANCE:

ZAGG, Inc. sees FY2018 EPS of $1.30-$1.50. ZAGG, Inc. sees FY2018 revenue of $550-570 million.

For earnings history and earnings-related data on ZAGG, Inc. (ZAGG) click here.

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