Zepp Health Trails Q4 Consensus Due To Lower Mi Band Shipments; Declares Special Cash Dividend

  • Zepp Health Corp ZEPP reported a fourth-quarter FY21 revenue decline of 15.8% year-on-year to $260.8 million, missing the consensus of $294.2 million.
  • The decrease in Mi band shipments mostly drove the reduction. COVID-19 and the semiconductor crisis during the holiday season affected the self-brand product sales.
  • Margin: The gross margin expanded 30 bps to 19.3%.
  • Adjusted income per ADS of $0.12 missed the consensus of $0.37.
  • Zepp held $230.4 million in cash and equivalents.
  • Drivers: Total units shipped fell 37.6% Y/Y to 8.3 million. The unit shipments of Amazfit and Zepp-branded products increased 14.3% Y/Y.
  • Unit shipment for Xiaomi wearable products fell 47.3% Y/Y.
  • Dividend: The board approved a special cash dividend of $0.1 per ADS.
  • Price Action: ZEPP shares traded higher by 0.32% at $3.13 in the premarket on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksDividendsTechBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!