Zagg slashes full-year sales forecast again; shares slide
(Reuters) - Zagg Inc (ZAGG.O), which makes scratch guards for mobile and tablet devices, slashed its full-year sales forecast again, citing lack of major mobile device launches.
Zagg shares fell 16 percent in extended trade, after closing at $5.86 on the Nasdaq on Tuesday.
The company now expects revenue of $245 million-$252 million for its full year, lower than the $274 million-$280 million it forecast earlier.
Analysts on average were expecting $273.7 million, according to Thomson Reuters I/B/E/S.
Zagg, whose products are used for Apple Inc's (AAPL.O) iPhones and iPads, cut its full-year forecast in May.
Zagg also estimated second-quarter revenue of about $51 million, below average analyst estimate of $59.3 million.
(Reporting by Neha Alawadhi in Bangalore; Editing by Sriraj Kalluvila)
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