This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

ZAGG Inc Reports Financial Results For Third Quarter 2013

  • Net sales of $49.9 million
  • Adjusted EBITDA of $10.2 million
  • GAAP diluted EPS of $0.10 and pro forma diluted EPS of $0.19
  • Cash flow from operations year-to-date of over $25.0 million
  • Paid down $6.6 million on line of credit and term note during the quarter
  • Revises 2013 revenue and Adjusted EBITDA guidance

SALT LAKE CITY, Nov. 5, 2013 (GLOBE NEWSWIRE) -- ZAGG Inc (Nasdaq:ZAGG), a market leader in innovative mobile device accessories and technologies, today announced financial results for the third quarter ended September 30, 2013.

"For the second quarter in a row, we've demonstrated the ability to maximize profitability during a period of top line compression by focusing on expenses and implementing several disciplines for managing our cost structure," said Randy Hales, president and CEO. "Looking ahead, we will continue to maximize profitability and cash flow with a reorganized sales team under new leadership, a strong product management focus, and a renewed focus on growing distribution. We are making the necessary changes to improve shareholder value."

Third Quarter Highlights (third quarter 2013 versus third quarter 2012)

  • Net sales of $49.9 million versus $59.8 million
  • Gross margins of 44.3% versus 44.5%
  • GAAP diluted EPS of $0.10 versus $0.11
  • Adjusted EBITDA of $10.2 million versus $12.0 million
  • Generated over $6.0 million in operating cash flow; over $25.0 million year-to-date
  • Paid down $4.6 million on line of credit and $2.0 million on term note
  • invisibleSHIELD sales represented 47% of net sales versus 51%
  • Keyboard sales represented 28% of net sales versus 19%
  • iFrogz Audio represented 14% of net sales versus 15%

Third Quarter Results

Net sales for the third quarter of 2013 decreased 17% to $49.9 million from $59.8 million in the same quarter last year. Revenue this quarter was impacted by the absence of meaningful expansion in our domestic and international distribution channels and as well as modest product expansion with existing customers.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs