ZAGG Inc. (ZAGG) Offers FY11 Sales Guidance Ahead of Consensus
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ZAGG Inc. (NASDAQ: ZAGG), a leading mobile device accessories company, announced today that it expects revenues for full year 2011 to exceed $175 million. Toppingthe Streets consensus of $171.84 million This compares to previously published guidance of $170 million for the year. The increase in revenue guidance is due to stronger than expected holidays sales for both ZAGG and iFrogz, more SKUs in the retail channel, and strong website sales in the fourth quarter.
ZAGG published revenue guidance of $95 - $100 million for 2011 on the fourth quarter 2010 conference call, and revisited the guidance on the second quarter 2011 conference call when it raised the expected revenue range to $100 - $110 million. After the acquisition of iFrogz in June 2011, the company issued new revenue guidance in the range of $160 - $170 for 2011, and on the third quarter conference call stated they expected revenues of $170 million for the year. ZAGG’s adjustments to guidance reflect the company’s rapid growth due to the expanding retail presence, increased SKUs in stores, new product introductions, rising ASPs, the acquisition of iFrogz, and continued strong website sales.
ZAGG published revenue guidance of $95 - $100 million for 2011 on the fourth quarter 2010 conference call, and revisited the guidance on the second quarter 2011 conference call when it raised the expected revenue range to $100 - $110 million. After the acquisition of iFrogz in June 2011, the company issued new revenue guidance in the range of $160 - $170 for 2011, and on the third quarter conference call stated they expected revenues of $170 million for the year. ZAGG’s adjustments to guidance reflect the company’s rapid growth due to the expanding retail presence, increased SKUs in stores, new product introductions, rising ASPs, the acquisition of iFrogz, and continued strong website sales.
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