Skullcandy (NASDAQ:SKUL) Issues Disappointing Outlook; Stock Tumbles – SKUL, KOSS, SNE, ETN

Skullcandy Inc’s (NASDAQ:SKUL) stock plunged around 23% to settle at $5.21. The company announced that it projects a record fiscal Q1 loss in the range of 25 cents to 30 cents a share and a sales drop of 30%.

The maker of music headphones sales previous year hiked 28% in a year ago, but the company issued a dismal fiscal Q1 guidance as it conceded it made some packaging errors and failed to quickly address trends in the audio category.

The corporation warned it projects to book a loss between 25 cents to 30 cents per share in fiscal Q1, comprising 3 cents in severance costs linked to the exit of former Chief Executive Jeremy Andrus.

Thomson Reuters analysts poll forecasted a profit of 5 cents per share and revenue of $60 million.

Skullcandy overall announced a quarterly profit of $11.5 million or 41 cents per share, low from $12.3 million or 44 cents per share in previous year.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Koss Corporation (NASDAQ:KOSS) rose +3.64% to settle at $5.08, Sony Corporation (ADR) (NYSE:SNE) moved up +0.19% to end at $15.59 while Eaton Corporation, PLC Ordinary Shares (NYSE:ETN) jumped +2.14% to finish at $63.35 on Friday.

Skullcandy Inc (NASDAQ:SKUL) last session’s volume of 7.45 million shares was higher than its average volume of 953,239 shares. The stock after opening at $5.60 hit high price of $5.78 and then closed at $5.21 by scoring -22.47%.

SKUL generated revenue of $280.13 million in the previous twelve months and earned $26.74 million. The Company showed a positive 9.54% in the net profit margin as well as in its operating margin which remained at 15.80%. Company’s annual sales growth for the past five years was 91.17%.

The SKUL’s past twelve months’ price to sales ratio was 0.51 and price to cash ratio remained 75.52. As far as the returns are concerned, SKUL’s return on equity was recorded as 24.26% and return on investment increased 23.89% while its return on asset stayed at 17.12%.

The stock showed weekly downbeat performance of -16.24% which was maintained for the month at -19.22%. Likewise the negative performance for the quarter was recorded as -37.53% and for the year was -61.69% while the YTD performance remained at -33.12%.

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