Skullcandy SKUL shares tumbled 21% to $8.81 Wednesday, a day after the headphone marketer reported a larger-than approaching initial entertain loss.
The Utah-based association pronounced sales rose 18% to $46.2 million from $39.1 million in the year-ago quarter. But waste widened to $3.7 million (13 cents per share) from $3.5 million in the initial entertain of 2014, due essentially to aloft offered and executive expenses.
CEO Hoby Darling stays optimistic.
“The group is on full attack. We have been assured which the actions directed at mending both the tip and bottom line, whilst investing in origination and direct creation, have us on lane to grasp the full year guidance, and some-more importantly broach postulated expansion and increasing gain over the long-term,” Darling said.
Skullcandy foresee second-quarter sales to stand 7% to 9% and full year formula to stand 13% to 15%.
Wednesday’s selloff erased some-more than 5 months of gains, pulling shares to their lowest levels given December.