ZAGG Incorporated (NASDAQ:ZAGG) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.27%.
ZAGG Incorporated Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 50% to $0.09 in the quarter versus EPS of $0.18 in the year-earlier quarter.
Revenue: Decreased 16.94% to $51.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: ZAGG Incorporated reported adjusted EPS income of $0.09 per share. By that measure, the company beat the mean analyst estimate of $0.06. It beat the average revenue estimate of $50.97 million.
Quoting Management: “Recent industry data confirms ZAGG as one of the leading brands in the mobile computing accessories market. ZAGG is the number one brand by revenue in tablet accessories, and iFrogz is one of the top five brands in personal audio during the last year in terms of units sold. These results from the latest market data reports validate the success of our brand and product strategies,” said Randy Hales, president and CEO. “In response to our reduced sales this year, we focused aggressively on cost management resulting in improved gross margin and EBITDA during the quarter. My increased involvement in sales and today’s announcement of Jason Schwartz joining the company as COO adds additional management focus on top line growth and profitability.”
Key Stats (on next page)…
Revenue decreased 0.52% from $51.47 million in the previous quarter. EPS increased 200% from $0.03 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.19 to a profit $0.07. For the current year, the average estimate has moved down from a profit of $0.84 to a profit of $0.43 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)