March 7 Headphone maker Skullcandy Inc
reported higher-than-expected fourth-quarter revenue but said it
expects to post a loss in the current quarter due to higher
expenses related to international expansion and the loss of a
The company said it expects to post a loss of 25 cents to 30
cents per share in the first quarter. It also said it expects
revenue to fall about 30 percent from a year earlier, implying
revenue of about $37 million in the quarter.
Analysts on average expect a profit of 5 cents per share and
revenue of $59.8 million, according to Thomson Reuters I/B/E/S.
Skullcandy in February appointed its founder and director
Rick Alden as interim chief executive following the departure of
its CEO Jeremy Andrus in February.
Net profit fell to $11.5 million, or 41 cents per share, in
the fourth quarter, from $12.3 million, or 44 cents per share, a
Excluding items, the company earned 47 cents per share.
Revenue rose 21 percent to $101 million.
Analysts expected a profit of 48 cents per share and revenue
of $98.6 million.
Shares of the Park City, Utah-based company slipped about 7
percent to $6.26 after the bell. Skullcandy has seen its stock
price drop almost 70 percent since its IPO in 2011.