It isn’t often that you find a growth stock trading at value multiples. The day comes where the past high flier misses a step. If the high flier can find its way and resume were it left off then it can result in high profits for shareholders. Zagg Inc. (NASDAQ:ZAGG) may be such a case.
ZAGG designs, manufactures and distributes accessories for mobile devices. This includes protective coverings, keyboards, cases, earbuds, etc. Their invisibleSHIELD protective film cover for smart phones and tablets is their largest product.
The company grew sales from $20m in 2008 to $262m in 2012 while net income went from $2m to $15m. The stock followed suit from under a dollar to a high of $17.10. However, first quarter of 2013 was a catastrophe.
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