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Zagg: 1Q Earnings Snapshot

MIDVALE, Utah (AP) _ Zagg Inc. (ZAGG) on Tuesday reported a first-quarter loss of $14.4 million, after reporting a profit in the same period a year earlier.

The Midvale, Utah-based company said it had a loss of 50 cents per share. Losses, adjusted for one-time gains and costs, came to 43 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 34 cents per share.

The mobile device accessory maker posted revenue of $78.8 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $77.4 million.

Zagg expects full-year earnings in the range of $1.47 to $1.60 per share, with revenue in the range of $610 million to $630 million.

Zagg shares have decreased 20% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $7.85, a drop of 31% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ZAGG at https://www.zacks.com/ap/ZAGG