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ZAGG profit misses consensus by 53.2% in Q2


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ZAGG profit misses consensus by 53.2% in Q2

ZAGG said its second-quarter normalized net income amounted to 1 cents per share, compared with the S&P Capital IQ consensus estimate of 3 cents per share.

EPS fell 91.1% year over year from 13 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $329,380, a decrease of 91.6% from $3.9 million in the prior-year period.

The normalized profit margin dropped to negative 1.0% from 5.9% in the year-earlier period.

Total revenue rose 49.7% year over year to $99.8 million from $66.7 million, and total operating expenses rose 63.6% on an annual basis to $98.7 million from $60.3 million.

Reported net income totaled a loss of $1.1 million, or a loss of 4 cents per share, compared to income of $3.6 million, or 12 cents per share, in the prior-year period.