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ZAGG profit misses consensus by 36.7% in Q4

ZAGG said its fourth-quarter normalized net income was 17 cents per share, compared with the S&P Capital IQ consensus estimate of 28 cents per share.

EPS fell 18.2% year over year from 21 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.9 million, a decrease of 24.3% from $6.4 million in the year-earlier period.

The normalized profit margin climbed to 6.8% from 6.3% in the year-earlier period.

Total revenue declined 23.2% on an annual basis to $78.6 million from $102.4 million, and total operating expenses decreased 23.0% year over year to $70.8 million from $92.0 million.

Reported net income decreased 60.2% on an annual basis to $5.1 million, or 18 cents per share, from $12.8 million, or 42 cents per share.

For the year, the company's normalized net income totaled 54 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 87 cents.

EPS rose 55.7% from 35 cents in the prior year.

Normalized net income was $15.7 million, a gain of 48.0% from $10.6 million in the prior year.

Full-year total revenue rose year over year to $269.3 million from $261.6 million, and total operating expenses totaled $244.1 million, compared with $244.6 million in the prior-year period.

The company said reported net income grew 50.9% year over year to $15.7 million, or 54 cents per share, in the full year, from $10.4 million, or 34 cents per share.