Utah’s Zagg reports higher 4Q revenue, earnings

the salt lake tribune

First Published Feb 28 2012 08:42 am • Last Updated Feb 28 2012 10:33 pm

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.

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