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Update: ZAGG Touches Decade Low After Q4 Revenue Miss; Operating EPS in Line; Suspends Strategic Review

3:49PM ET 3/12/2020 MT Newswires
(Updates with the price move in the second paragraph.)

ZAGG (ZAGG), a mobile lifestyle company, reported after markets closed on Wednesday Q4 operating EPS of $0.94, up from $0.55 reported a year earlier, and in line with the $0.94 average estimate of analysts polled by Capital IQ.

Sales totaled $189.9 million for the December quarter, up from $166.5 million for the year-earlier period, but lower than the $207.3 million Street estimate. Shares plunged by almost half, earlier touching their lowest level since 2010.

Moving forward, the company said it expects FY20 flat sales, and EPS of $0.50. Wall Street was looking for 10.1% sales growth and $1 of EPS.

The company also said that it has suspended its review of strategic alternatives for being unable "to finalize a definitive offer at a price that was not significantly below the current trading levels."

Price: 2.69, Change: -2.64, Percent Change: -49.53