Skullcandy's (SKUL) Higher-Than-Expected Gross Margin Offset Low Revenue; Roth Capital Reiterates Buy
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Skullcandy Reports Third Quarter 16% Net Sales Growth
November 5, 2015 4:02 PM ESTPARK CITY, Utah, Nov. 5, 2015 (GLOBE NEWSWIRE) -- Skullcandy, Inc. (NASDAQ: SKUL) today announced financial results for the third quarter ended September 30, 2015.
Third quarter 2015 reported results versus the same quarter a year ago
Net sales: $67.2 million vs. $58.1 million, up 16% (up 19% currency neutral) Gross margin: 41.0% vs. 45.3%, down 430 basis points (down 272 basis points currency neutral) Selling, general and administrative expense (SG&A): $24.5 million vs. $22.7 million, up 8% SG&A expense as a percent of net sales: 36.4% vs. 39.2% Operating income: $3.1 million vs. $3.6 million, down $0.5 million (up 29% currency neutral)... More