ZAGG Earnings: Here’s Why the Stock is Rising Now
ZAGG Incorporated (NASDAQ:ZAGG) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.61%.
ZAGG Incorporated Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 96.88% to $0.01 in the quarter versus EPS of $0.32 in the year-earlier quarter.
Revenue: Rose 29.51% to $87.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: ZAGG Incorporated reported adjusted EPS income of $0.01 per share. By that measure, the company missed the mean analyst estimate of $0.29. It beat the average revenue estimate of $83.66 million.
Quoting Management: “We are very pleased with our record fourth quarter revenue and Adjusted EBITDA, as we experienced strong sales volume in all product categories during the 2012 holiday season. This quarter we successfully refinanced our debt, substantially lowering our interest expense for 2013 and beyond. We will be using some of our cash from operations to pay down debt as well as to purchase our stock opportunistically in the open market,” said Brandon O’Brien, ZAGG CFO.
Key Stats (on next page)…