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Utah's Zagg reports higher 4Q revenue, earnings

Published February 28, 2012 8:43 am

This is an archived article that was published on sltrib.com in 2012, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Zagg Inc., the Salt Lake County-based company that makes see-through protective film for electronic devices, said its sales for the fourth quarter of its 2011 fiscal year increased 131 percent, or $67.5 million, from the same period a year ago.

Net income for the quarter was $9.9 million, or 32 cents per share. A year ago, the company reported net income of $3.4 million, or 13 cents per share.

CEO Robert Pedersen II said the company performed well because of strong holiday sales, record online business and an expanded number of its products carried by big-box retailers.

For all of 2011, Zagg reported revenue of $179.1 million, up from $76.1 million in its previous fiscal year. Net income was $17.6 million, compared with $9.9 million in 2010. Earnings per share were 63 cents versus 41 cents.

Pedersen, in a statement announcing the company's 2011 financial results, said Zagg is projecting its 2012 revenue will top $250 million.