By market open, shares had surged 45.6% to $10.82.
The company recorded net income of 13 cents a share. Analysts polled by Thomson Reuters projected profit of 9 cents a share. Revenue was $72.25 million, $370,000 higher than analysts' estimates.
Management guided for fiscal net income between 10 cents and 14 cents a share for the current year. Analysts had forecast 10 cents a share.
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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