ZAGG | Quote | Chart | News | PowerRating -- Zagg Inc, a producer of mobile electronics accessories including the invisibleSHIELD and Zaggaudio brands, announced results for the second quarter of Fiscal Year 2009, ended June 30.
In a release dated August 13, the company stated:
- Zagg highlighted a 236 percent increase in revenues when compared to second quarter 2008 and also reported positive fully diluted earnings per share of $0.05 for the second quarter 2009. For the six months ended June 30, Zagg had a 210 percent increase in revenues when compared to the six months ended June 30, 2008 and also reported positive fully diluted earnings per share of $0.10 for the same period.
"We are thrilled with these results, as the second quarter is historically our slowest, so to execute another record-breaking quarter is very exciting," said Robert G. Pedersen II, President and CEO of Zagg. "We continue to see dramatic growth in domestic and international markets. We are currently expanding our SKU count with Best Buy and the launch of another big box retailer to be announced on the conference call. Our mall kiosks are experiencing record growth in inquiries from potential owners, and from new cart openings; we currently have 67 operating locations across the country, and 78 signed agreements. Zagg will be introducing a new product line on this call, as well as a switch in paradigm in offering new product categories over the coming months. I am confident that the invisibleSHIELD and new product launches throughout the rest of this year will keep our company on a high growth trajectory for years to come."
- Net sales for the quarter ended June 30, were $9,214,971, an increase of 236 percent compared to net sales of $2,739,176 for the quarter ended June 30, 2008. Net sales for the six months ended June 30, were $17,290,146, an increase of 210 percent compared to net sales of $5,584,597 for the six months ended June 30, 2008.
- Gross profit for the quarter ended June 30, was $5,515,454, or 60 percent of sales, compared to $2,026,962, or 74 percent of sales, in the quarter ended June 30, 2008. Gross profit for the six months ended June 30, was $10,708,398, or 62 percent of sales, compared to $4,094,591, or 73 percent of sales for the six months ended June 30, 2008. We reported net income of $1,194,264 or $0.05 per share for the quarter ended June 30, compared to net income of $174,703 or $0.01 per share for the quarter ended June 30, 2008. We reported net income of $2,222,504 or $0.10 per share for the six months ended June 30, compared to net income of $60,532 or $0.00 per share for the six months ended June 30, 2008.
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