THey did warn this time, revenues clearly light. No word on margins, that should be interesting (good or bad). ZAGG will rise again with new Apple release - it becomes a good buy right around here in the mid/upper $4s. Until then, its just going to be an ugly duckling.
I notice the earnings estimates have been reduced from .12 to .06 for this quarter. I would not be surprised if ZAGG were able to beat that, because I do think it might be too low an estimate. The buyback program should show up on the books this quarter, too; reducing the share count. This could be a good buy here for a quick trade as well as a long term hold.
TBH, I think ZAGG loses $0.03 this quarter. Forecast will be rosy now that Apple has let the cat out of the bag about October, but Hales has no Street cred so it should be ignored in the immediate aftermath. Buyback will exacerbate the loss as fewer shares to share the loss. I see all of this unwinding with a crushing Q4 due to seasonality, iPhone launch, and having the two in Q4 makes ZAGG products a great stocking stuffer. Some kind of HzO update and Caliber Adv update will be required at that point and right now, they are not priced in for anything. Q3 will see a pickup due to some loading by distribs - but not as much as in the past as the newer distributors seem to be running JiT. I just hope ZAGG can handle the JiT process without resorting to overnighting all of their orders, don't think Hales understands his new customers that well.