Zagg Inc Boosts Guidance On iPhone Accessory Sales

Zagg Inc.

gained sharply in Wednesday's extended session after the company boosted its outlook, citing higher than expected sales and resulting wider margins. The Salt Lake City maker of mobile device accessories changed hands recently at $6.20 a share, up more than 16 percent. Zagg said it's benefiting from sales of its accessories for the recently launched iPhones and iPads, as well as from newly gained product placement at key retailers. Zagg forecast 2015 sales of $250 million to $255 million, up from its previous forecast of of $225 million to $235 million. Analysts expect 2015 revenue of $232.5 million. The company predicted 2015 gross margin "in the low 30's versus the previously forecast of high 20's." Zagg also expects between $30 million and $32 million in 2015 adjusted earnings before interest, taxes, depreciation and amortization, compared with its previous forecast of $15 million to $20 million.