ZAGG did not disappoint this time. Post market up $1.54 to $6.66:
SALT LAKE CITY--(BUSINESS WIRE)-- ZAGG Inc. (NASDAQ:ZAGG - News) (www.ZAGG.com), a leading producer, designer, and distributor of electronics accessories for protecting and enhancing the mobile experience, including the popular invisibleSHIELD™, ZAGGskins™, ZAGGbuds™, and ZAGGsparq™ brands, today announced that it expects third quarter 2010 revenues to exceed $22 million, and now guides for full year 2010 revenue growth of 70%. This compares to previously issued revenue guidance of 30% growth over 2009 results. These results reflect stronger demand for their flagship product, the invisibleSHIELD, than previously anticipated as a result of recently announced distribution agreements this year, more SKUs shipped to existing storefronts, and the successful introduction of various new mobile devices in the quarter. ZAGG had not provided previous guidance for quarterly revenues.
“Preliminary results for the quarter have exceeded our expectations due to the timing of distribution agreements and new mobile devices sales surpassing industry expectations. Demand has continued to exceed our distributors’ forecasts for the invisibleSHIELD, and we have been successful in getting more branded ZAGG products into the retail distribution channel,” commented Robert G. Pedersen II, President and CEO of ZAGG. “The rapid acceptance of mobile devices in the third quarter has also been an important driver for ZAGG sales, and we see this trend continuing in the future.”
ZAGG expects to report financial and operating results for the third quarter ended September 30, 2010, on November 10. The Company also expects to speak to the 2010 outlook in further detail at that time.
For more information about ZAGG or any of their products, please visit ZAGG.com.
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