Third Quarter Highlights (third quarter 2012 versus third quarter 2011)
- Consolidated revenue increased 30% to $59.8 million
- Operating income up 54% to $7.1 million
- Gross margin of 44.5%
- Diluted EPS increased 57% to $0.11
- Non-GAAP net income increased 12% to $8.2 million, or $0.26 per diluted share
"We were pleased to see the business continue to advance, with year-over-year growth of 30%. During the quarter the company introduced several new products while continuing to focus and build upon our three strategic objectives: Creative Product Solutions; The Preferred Brand; and Targeted Global Distribution," said Randy Hales, President and interim CEO of ZAGG.
Third Quarter ResultsConsolidated revenue for the third quarter of 2012 increased 30% to $59.8 million from $45.9 million in the same quarter last year. Revenue by channel was 84% through indirect channels, 10% through ZAGG.com and iFrogz.com and 6% through the company’s mall cart and kiosk programs. Gross profit for the third quarter of 2012 was $26.6 million or 44.5% of net sales, representing a 37% increase, versus $19.5 million or 42.4% of net sales in the third quarter of the prior year. Operating income for the third quarter of 2012 was $7.1 million compared to $4.6 million for the third quarter of 2011, an increase of 54%. Net income attributable to stockholders for the third quarter of 2012 was $3.4 million or $0.11 per diluted share as compared to net income attributable to stockholders of $2.2 million or $0.07 per diluted share in the third quarter of 2011.