After market close, shares had added 11.7% to $7.43.
The headphones maker reported fourth-quarter net income of 13 cents a share, 4 cents higher than analysts surveyed by Thomson Reuters had forecast.
Revenue of $72.25 million was $370,000 higher than analysts' expectations.Sales decreased 28.4% year over year, though this was consistent with the company's strategy to "significantly cut sales to its off-price channel, aggressively enforce its MAP pricing online, and control inventory levels with its customers." "2013 was a year of tremendous positive change geared toward executing our turnaround strategy," said CEO Hoby Darling in a statement. "The year was capped off by a strong fourth quarter performance focused on reinforcing our brand ethos and positioned the business for long-term success." Must Read: Warren Buffett's 10 Favorite Dividend Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates SKULLCANDY INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation: "We rate SKULLCANDY INC (SKUL) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and feeble growth in its earnings per share."
- You can view the full analysis from the report here: SKUL Ratings Report
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts