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ZAGG Sheds Buyout Speculation Gains in After Hours on Dim FY Outlook, Closes After-Hours Session Down 18%

9:07PM ET 8/06/2019 MT Newswires
ZAGG Inc (ZAGG) closed the after-hours session down 18% after the company said Q2 sales fell to $106.8 million from $118.6 million in the year-ago period but topped the CapIQ mean for $105.41 million.

It swung to a net loss of $0.18 per share from a profit of $0.11 last year and missed forecasts for a loss of $0.13.

Operating loss per share was $0.09, matching estimates.

FY sales are seen between $520 million to $550 million, below expectations for $615.01 million. EPS are seen between $0.75 to $1.00, missing forecasts for $1.39.

Separately, Reuters said earlier in the day the company is weighing options that include a potential sale after attracting acquisition interest from private equity firms. The company reportedly is working with an advisor. Shares closed the regular session up about 15% on that speculation.

Price: 5.69, Change: -1.25, Percent Change: -18.01