Revenue Update on Skullcandy Inc(NASDAQ:SKUL)

Skullcandy Inc(NASDAQ:SKUL) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 9, 2016. Company reported revenue of $57.28M. Analysts estimated a revenue of $56.72M. Earnings per share were $-0.05. Analysts had estimated an EPS of $-0.05.

In a different note, On Jun 8, 2016, DA Davidson said it Downgrades its rating on Skullcandy Inc. In the research note, the firm Raises the price-target to $4.50 per share. The shares have been rated ‘Neutral’ by the firm.

Skullcandy Inc (SKUL) made into the market gainers list on Wednesdays trading session with the shares advancing 1.75% or 0.11 points. Due to strong positive momentum, the stock ended at $6.41, which is also near the day’s high of $6.44. The stock began the session at $6.35 and the volume stood at 1,19,417 shares. The 52-week high of the shares is $7.44 and the 52 week low is $2.75. The company has a current market capitalization of $184 M and it has 2,87,46,664 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Aug 5, 2016, Llc Ptarmagin, (10% owner) sold 37,500 shares at $6.18 per share price.Also, On Jul 13, 2016, Rick Alden (director) sold 25,000 shares at $6.11 per share price.On Nov 12, 2015, S Hoby Darling (CEO) purchased 5,000 shares at $4.34 per share price, according to the Form-4 filing with the securities and exchange commission.

Skullcandy Inc. is a designer marketer and distributer of audio and gaming headphones earbuds speakers and other accessories under the Skullcandy Astro Gaming and 2XL brands. The Company’s products are sold and distributed through a variety of channels in the United States and approximately 80 countries across the world. The Company offers an array of styles and price points and includes audio products and categories such as gaming and sports performance women’s and Wireless offerings as well as partnerships with manufacturers to license its brand. The Company operates in two segments: Domestic and International. The Domestic segment consists of Skullcandy and Astro Gaming product sales to customers in the United States. International segment includes Skullcandy product sales to customers in Europe Asia Canada and Mexico which are served through the Company’s joint venture and other geographic areas outside the United States served by its International operations.

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