Utah's ZAGG posts higher Q3 revenue, earnings

Published November 5, 2012 9:59 am
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ZAGG Inc. has reported that its revenue grew 30 percent and its earnings 54 percent for the third quarter of its 2012 fiscal year.

The Salt Lake City-based company, which produces accessories for mobile devices and counts among its products clear coverings that provide scratch protection for products ranging from cell phones to the underwater computers used by scuba divers, said third-quarter revenue reached $59.8 million compared with $45.9 million in the same period last year.

Net income increased to $3.4 million, or 11 cents per share. A year ago, ZAGG posted third-quarter net income of $2.2 million, or 7 cents per share.

"We were pleased to see the business continue to advance, with year-over-year growth of 30 percent," Randy Hales, ZAGG's president and interim CEO, said in a statement announcing the company's third-quarter results.

As a result of the company's performance year-to-date, ZAGG's management is projecting the company will see 2013 revenue of between $259 million and $262 million. It previously was projecting revenue for its 2012 fiscal year would come in at around $256 million.

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