ZAGG, Inc. (ZAGG) Tops Q3 EPS by 10c, Revenues Miss

ZAGG, Inc. (NASDAQ: ZAGG) reported Q3 EPS of $0.51, $0.10 better than the analyst estimate of $0.41. Revenue for the quarter came in at $141.1 million versus the consensus estimate of $149.13 million.

"Our record third quarter was highlighted by strong growth in screen protection sales which fueled meaningful gains in gross margin and operating profit," commented Chris Ahern, Chief Executive Officer. "We are also encouraged by the performance of our wireless charging business, which continues to gain market share following the launch of our mophie wireless charge pad just 12 months ago. With respect to power cases, we recently received certification for mophie’s iPhone X compatible juice pack and expect to have product in market ahead of the holiday selling season. That said, this is later than our most recent expectations, which has put some near-term pressure on our top-line and required us to reduce our full-year revenue outlook. Looking ahead, we remain confident about the longer-term growth prospects for ZAGG and I am confident that we have the right resources and plans in place to successfully capitalize on these opportunities."

GUIDANCE:

ZAGG, Inc. sees FY2018 EPS of $1.30-$1.40, versus the consensus of $1.40.

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

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