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Mobile device accessories maker Zagg ( ZAGG ) tumbled Wednesday after missing fourth-quarter sales and earnings targets. Zagg stock was down about 14%, near 9, in midday trading on the stock market today . The Salt Lake City-based company late Tuesday said it earned 18 cents a share on sales of $78.6 million in Q4. Analysts polled by Thomson Reuters were looking for 24 cents a share on sales of $82.94 million. On a year-over-year basis, EPS tumbled 58%, and sales fell 23%. Best known for making InvisibleShield screen protectors, Zagg also makes tablet keyboards, smartphone cases, portable power devices and audio products. On March 3, Zagg completed its $100 million purchase of Mophie, a maker of battery cases and external power products for mobile devices. Zagg executives, in their earnings conference call late Tuesday, focused on full-year results. In 2015, Zagg’s sales rose 3% to $269.3 million, and EPS rose 59% to 54 cents. For 2016, Zagg expects sales of $460 million to $500 million. It sees $285 million to $305 million in sales from the legacy Zagg business and $210 million to $230 million coming from Mophie. On the call, Zagg CEO Randy Hales said the company’s new-product pipeline is the best in the company’s history. Upcoming offerings include new screen protectors, keyboards and audio products, he said. Zagg, however, was dealt a setback in screen protectors when Apple ( AAPL ) forged a partnership with rival Belkin in the category. Starting Feb. 9, Apple Store employees began offering to apply Belkin screen protectors on iPhone 6 and 6S series phones, MacRumors reported . “Real kudos to Belkin for having put something in there that captured the attention of Apple, and doing a good job rolling that out,” Hales said on the call. “We actually like it, because it increases awareness to the category, that people really need to protect these devices they are purchasing.” RELATED: Zagg Zigs To Find New Mobile Accessories Business . Scalper1 News
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