- Published: 14 October 2010
- Written by Editor
ZAGG Expects Significant Third Quarter Growth; Upwardly Revises Guidance for 2010
ZAGG Inc. (NASDAQ: ZAGG) (www.ZAGG.com), a leading producer, designer, and distributor of electronics accessories for protecting and enhancing the mobile experience, including the popular invisibleSHIELD™, ZAGGskins™, ZAGGbuds™, and ZAGGsparq™ brands, today announced that it expects third quarter 2010 revenues to exceed $22 million, and now guides for full year 2010 revenue growth of 70%. This compares to previously issued revenue guidance of 30% growth over 2009 results. These results reflect stronger demand for their flagship product, the invisibleSHIELD, than previously anticipated as a result of recently announced distribution agreements this year, more SKUs shipped to existing storefronts, and the successful introduction of various new mobile devices in the quarter. ZAGG had not provided previous guidance for quarterly revenues.
“Preliminary results for the quarter have exceeded our expectations due to the timing of distribution agreements and new mobile devices sales surpassing industry expectations. Demand has continued to exceed our distributors’ forecasts for the invisibleSHIELD, and we have been successful in getting more branded ZAGG products into the retail distribution channel,” commented Robert G. Pedersen II, President and CEO of ZAGG. “The rapid acceptance of mobile devices in the third quarter has also been an important driver for ZAGG sales, and we see this trend continuing in the future.”
ZAGG expects to report financial and operating results for the third quarter ended September 30, 2010, on November 10. The Company also expects to speak to the 2010 outlook in further detail at that time.
For more information about ZAGG or any of their products, please visit ZAGG.com.
About ZAGG, Inc.:
ZAGG is a market leader in providing innovative consumer products like films, skins, audio and power solutions that protect, personalize, and enhance the mobile experience. ZAGG’s products are distributed worldwide with popular, award-winning brands such as the invisibleSHIELD™, ZAGGskins™, ZAGGsparq™, ZAGGbuds™ and ZAGG LEATHERskins™. The patent-pending invisibleSHIELD, ZAGG’s flagship product, is the original thin film full-body protector, and is available in over 5,000 precision pre-cut designs with a lifetime replacement warranty. ZAGG products are available online at ZAGG.com and in major retailers around the globe, including AT&T, Best Buy, RadioShack, Cricket, Carphone Warehouse and hundreds of other retailers. For more product or investor information please visit the company's web site at www.ZAGG.com.
Safe Harbor Statement:
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in filings made by the company with the Securities and Exchange Commission.
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ZAGG Inc.
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