Despite being a third party electronics accessories vendor and having to contend with Apple and the notorious secrecy surrounding their products, Zagg managed to not only reach, but far exceed expectations at year-end on December 31, 2012. While analysts were only predicting $308M in sales for 2013, Zagg has called for adjusted potential sales from $313M to $318M with adjusted EBITDA (earnings before interest taxes depreciation and amortization) on these sales at $69M to $71M, forcing Wall Street to move its target higher.
In comparison with prior year quarters, Zagg beat expectations on revenues, booking revenue for fourth quarter (Q4) at $87.5M, 29% higher than the prior year’s quarter at $67.6M. The average investor sentiment is that Zagg stocks will outperform with an average price target of $13.68. With these numbers and Zagg’s predicted upward growth, one can only assume to expect a fantastic performance from them in the coming year 2013.