ZAGG Boosts FY14 Outlook

(RTTNews) - Mobile device accessories company ZAGG Inc (ZAGG) on Wednesday raised its full year 2014 net sales guidance to a range of $250 - $255 million from previous guidance of $225 - $235 million.

Analysts polled by Thomson Reuters currently expect the company to post revenue of $232.49 million for the full year 2014.

The company also raised its full year adjusted EBITDA outlook to a range of $30 - $32 million from its prior outlook of $15 - $20 million.

The company said it now expects full year 2014 corporate gross margin to be in the low 30's, compared to its earlier forecast of high 20's.

"I'm very pleased with the strong finish to the year, demonstrating the impact of the return to growth strategy we put in place in late 2013. Net sales at year end have benefited from stronger than expected sell through of accessories for the recent iPhone and iPad launches, and newly gained placement in key retailers, all of which exceeded our earlier forecasts. The company also experienced better than anticipated gross margin contribution due to a higher percentage of sales from the screen protection category than previously projected," said Randy Hales, President and Chief Executive Officer.