Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
these guys are looking great today. i wonder if they'll break a new high in a week
Looking like before 2014. Reverse trend finally for $SKUL. I wonder what's the big news
Company got $50mil to do a share buyback
Just a technical breakout as far as I can tell. I don't see any root cause.
Anybody know what is going on with this today? Crazy movement
By so couple months away. But that's IMO
early, mid, late?? Thanks
~ $SKUL ~ Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!
$SKUL has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
~ http://tinyurl.com/SAR-BUY ~
For a more in Depth study and DD profile, similar to the one contained in this link: ~ http://tinyurl.com/DDexample ~
Click the following link and type ticker or brief message asking me about the DD: ~ http://tinyurl.com/GET-THE-DD ~
What does the scan "Parabolic SAR Buy Signals" mean? Below is an image example and study link.
~ http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:parabolic_sar ~
To find other similar posts of "SKUL" utilize the links that follow.
Search MACDgyver's "Parabolic SAR Buy Signals" posts: ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=ParSarBuyScan ~
Search MACDgyver's posts for symbol "SKUL": ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=SKUL ~
Search Ihub for "SKUL" posts: ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=SKUL ~
For more in depth training and information visit Chartschool on the Stockcharts page.
~ http://stockcharts.com/school/doku.php?id=chart_school ~
Also don't forget the Ihub Edu Channel.
~ http://investorshub.advfn.com/boards/education.aspx ~
c
~ $SKUL ~ Daily Par Sar Buy Signal ~ Criteria alert triggered during a recent trading session!
$SKUL has just triggered the "Parabolic SAR Buy Signals" scan criteria at Stockcharts.com
~ http://tinyurl.com/SAR-BUY ~
For a more in Depth study and DD profile, similar to the one contained in this link: ~ http://tinyurl.com/DDexample ~
Click the following link and type ticker or brief message asking me about the DD: ~ http://tinyurl.com/GET-THE-DD ~
What does the scan "Parabolic SAR Buy Signals" mean? Below is an image example and study link.
~ http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:parabolic_sar ~
To find other similar posts of "SKUL" utilize the links that follow.
Search MACDgyver's "Parabolic SAR Buy Signals" posts: ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=ParSarBuyScan ~
Search MACDgyver's posts for symbol "SKUL": ~ http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2013&SearchStr=SKUL ~
Search Ihub for "SKUL" posts: ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=SKUL ~
For more in depth training and information visit Chartschool on the Stockcharts page.
~ http://stockcharts.com/school/doku.php?id=chart_school ~
Also don't forget the Ihub Edu Channel.
~ http://investorshub.advfn.com/boards/education.aspx ~
c
actually jumped in here. I think the brand is strong here and I like the high short interest for a possible squeeze. Hopefully it can continue to rise from here after this dip
GLTA
Glad you pointed out the known good job good job
SKUL sells headphones
we are turning around here
looks like it is still headed downwards, keeping it on my watchlist
Just bought in. Any thoughts on where this stock is going?
Kyle bought some shares too lol
And help sell Volcom, which Kyle wescoat has done the same with companies who left vizio to join Skullcandy
Any thoughts on how this play out tomorrow? I'm thinking gap of course but after that it's up in the air.
Volcom then nike
LOL,, I just wanted you to say NIKE. No one really cares who Hoby it is right now. All the emails I'm getting say the same thing, the new CEO is from NIKE.
Read help sell a company that went public in 05 but haven't researched what happened after that
I agree, do you know where Hoby Darling worked before coming to SKUL?
Great CEO hire
Yea the CC was so strange. With all these small caps going nuts, I just had a feeling the CEO void had something there. We got a lot of room above us, that's for sure!
I did as well and took advantage of the low PPS. I have to admit I was a bit let down when we didn't hear anything about the buyback. I thought for sure we'd get at least a hint from the call, but nothing. I thought they're going to give the new CEO something to get investors excited about and a $28 million buyback would sure do it for me and than we got nothing. Well I made a tactical error thinking it would be the founder/interim CEO. Now that they have the new guy (from NIKE) coming on board I have a feeling things are going to get interesting. Once you read his history you'll see what I'm talking about. Good luck to everyone, it's been a long road and it's not even close to being over but it least things are looking up.
Had a feeling $SKUL was gonna pull this one :). Still holding some 5.20's!
Sweet, I am so glad I stuck this out. New CEO is from NIKE. I'm digging it...
Still holding a few hundred shares around these prices. Not really following the price action these days as I plan on selling after the 10-K for Q1'13 is released. Wikiinvest rates this position as my best long term position fundamentally :)
$SKUL is a great set it and forget it play. This company is crazy under valued and influential connections. We will see a buy-out or some other big news related to international sales in time. Once that happens we should see some serious gains here, this thing has BEEN bottomed out!
Under Accumulation imo. I want to buy it at 4.95,come to pappy.
I am starting to like this company after my friend told me about it
Now I'm in the money again :) not holding thru earnings ever again lol
They certainly have
I like it, they have created a buying opportunity.
Volume was insane, it wasn't just a sell off, it was massive shorting. The PPS held well. This week should be interesting :)
I am going to start buying this, I think this is the move down, before the screaming run UP.
I agree,im sure there are several companies trying to buy out the company.
Revenues went from 225 million to 300 million in one year.
A lot of people think this is done until buyout rumors are stronger, and that it wont happen till EOY, but I'm thinking that with the PPS this tanked (and the company knowing it was going to happen), a PR about a new CEO / huge news in regards to Q1 losses and 2013 overall gains could happen. If it happened Sunday night or Monday morning, oh my we would see some fireworks.
Ok that makes sense. The book value of this company is almost equal to the market cap right now.
So oversold. Extremely low p/e ratio
Mormons value business and work ethics. Look at Romney, Bain buys little companies like Skullcandy. Romney even helped with the IPO of SKUL. The PPS falling this fast, is too fast. The market will react, unless there are still shares to short heavy and bagholders are willing to take more than a 20% loss...
5.90 sorry. And really not 5.90. I had 2 long positions, in 2 diff accounts. I sold the one before EOD for nice profit (in at 6.18 out 6.75). After the AH tankage and PM tankage, I bought more, averaging down to 5.90. So with the profit I made, it's a bit lower, a small bounce and I can get out even or slight profit.
I agree, the company seems to be pretty stupid, but I'm skeptical. I'm not just a hopeful bagholder, I've averaged down and plan to trade appropriately.
Yes, EVERYTHING points to this thing going down, but think about it.
CEO leaves after SKUL is downgraded, causing the PPS to tank further. He has no reasoning for why he's leaving, he said he is excited for when he returns. He went to work with Mitt Romney's son for a hedge fund in boston.
Look at the insider transactions as the PPS tanks this year:
http://finance.yahoo.com/q/it?s=SKUL+Insider+Transactions&desktop_view_default=true
Look at the PR's released to help the PPS from tanking:
http://finance.yahoo.com/q/p?s=SKUL&desktop_view_default=true
There have been 10 filings for 10 insider sells. They account for 500k shares. They still hold 10.95M shares. What's with the automatic stop loss sales for small amounts of shares? Are these guys broke? They need some money to party? They've paid themselves well, I doubt it. The CEO void + the founder/ex-CEO going to work with Romney... I don't buy it. Something is up. The PPS is down this hard from only months of shorting...
How is your average 4.90
True, my thought process included a possible buyout because most of the shareholders seem to be institutions....and some may vote against a buyout for 19 bucks.
But if the pps is so low, then a buy out may look like the best option and they will vote for it.
All IMO. But i agree, something is planned. Those Mormons are smart peeps.
Because the former CEO is learning from the richest, how to become richer. Mormon ties here, the former CEO has his shares. People don't just walk away from things they've created themselves. Something is brewing, management seems to want this down, lack of PRs and focus on the negative, plus insider sells... The question is, why would they want this down? They knew the CC could make them all lots of money, they must think they can make more this way. Keep an eye out for insider buys. This stock is a penny stock now, don't assume they won't pull penny stock games.
Seriously, management that isn't doing its job... They know they are supposed to make it go up not down. The former CEO has almost all his shares still. He had auto sales for small lots, almost like he wanted everyone to bail by making them think he wants no more. Interim CEO sounded excited about changes being made in '13 Q1, no words as to why there will be a loss.
I was even, but didn't sell AH. My average is about 4.90 and I'll sell some on a small bounce, but if no action happens then I might wait till 10Q, when they explain why they project to beat earnings Q2-4 '13.
I'm keeping my eyes peeled for insider buys. The price got stuck between $5.15-5.25, and if you look at the volume, a lot had to be shorts. If those aren't covered by Monday, we could pull a GRPN on dem shorts :). Worth holding a few more days for those holding now, IMO.
I say we're close to the bottom (panic sellers are usually done within a couple of days). I only buy stocks at their 52 weeks lows and every time they'll go down a little more after I buy and then will stay around the same price for awhile and then will slowly start to go back up....unless the ceo does something stupid to bring it back down
But then again I have never bought into a company that keeps getting hammered with bad news.
Followers
|
15
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
395
|
Created
|
02/23/12
|
Type
|
Free
|
Moderators |
Fourth quarter Results
"2013 was a year of tremendous positive change geared toward executing our turnaround strategy. We now have a clear long-term vision for transforming Skullcandy and Astro Gaming into the most innovative brands in audio through obsessing about our consumers, disruptive technologies, and creative branding," said Hoby Darling, President and Chief Executive Officer of Skullcandy. "The year was capped off by a strong fourth quarter performance focused on reinforcing our brand ethos and positioned the business for long-term success. The great work the team has done establishing a new direction for the Company speaks volumes about our people and our culture and the foundation we are building. With our five key growth pillars established and a clear understanding of our consumer, where we will innovate and focus, and a segmented distribution strategy, it is now about executing. We are confident we can achieve our vision of being a global audio leader while delivering profitable growth, increased shareholder value and living by our core values."
Net sales in the fourth quarter of 2013 decreased 28.4% to
Gross profit in the fourth quarter of 2013 decreased 30.0% to
Selling, general and administrative (SG&A) expenses in the fourth quarter of 2013 decreased 4.8% to
Certain reclassifications have been made to the Company's 2012 results to conform to the 2013 presentation to better reflect where certain costs should be presented in the statement of operations. For this reason, tooling depreciation and warranty related expenses are being included in cost of goods sold for all comparable periods.
Net income attributable to the fourth quarter of 2013 was
Balance Sheet Highlights
As of December 31, 2013, cash and cash equivalents totaled
2014 First Quarter and Full Year Financial Outlook
For the first quarter of 2014, the Company currently forecasts net sales to increase between 5% to 7% over 2013 levels and net loss on a GAAP fully-diluted basis to be between (
For the full year 2014, the Company currently forecasts net sales to increase in the mid to high single digit percentage range over 2013 levels and net income on a GAAP fully-diluted basis to be between
Call Information
A conference call to discuss the fourth quarter of 2013 results is scheduled for today, March 6, 2014, at 4:30 PM Eastern Time / 2:30 PM Mountain Time. A broadcast of the call will be available on the Company's website, www.skullcandy.com. Analysts and investors can participate in the live call by dialing (877) 705-6003 or (201) 493-6725. A replay of the conference call will be available until 11:59 p.m. ET on March 13, 2014 and can be accessed by dialing (877) 870-5176 or (858) 384-5517 and entering conference ID number 13576848.
About Skullcandy, Inc.
Skullcandy is the original lifestyle and performance audio brand inspired by the creativity and irreverence of youth culture. Skullcandy designs, markets and distributes audio and gaming headphones and other accessory related products under the Skullcandy, Astro Gaming and 2XL by Skullcandy brands. Skullcandy was launched in 2003 and quickly became one of the world's most distinct audio brands by bringing unique technology, color, character and performance to an otherwise monochromatic space; helping to revolutionize the audio arena by introducing headphones, earbuds and other audio and wireless lifestyle products that possess unmistakable style and exceptional performance. The Company's products are sold and distributed through a variety of channels in the U.S. and approximately 80 countries worldwide. Visit skullcandy.com, or join us at facebook.com/skullcandy or on Twitter @skullcandy.
Forward-Looking Statements
Certain statements in this press release and oral statements made from time to time by representatives of the Company are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, statements regarding the Company's anticipated future financial and operating results and any other statements about the Company's future expectations, beliefs or prospects expressed by management are forward-looking statements. These forward-looking statements are based on management's current expectations and beliefs, but they involve a number of risks and uncertainties that could cause actual results or events to differ materially from those indicated by such forward-looking statements. Important factors that could cause actual results to differ materially from expectations are disclosed under the "Risk Factors" section of the 2012 10-K filed with the Securities and Exchange Commission ("SEC") on March 13, 2013 and in any subsequent reports the Company files with the SEC. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise
Non-GAAP Measures
Non-GAAP adjusted net income and non-GAAP adjusted fully diluted earnings per share, for the periods presented, represents diluted net income per share excluding the impact of severance expenses associated with the departure of the Company's former Chief Executive Officer, exit costs associated with the office closure in
-Financial Tables Follow-
SKULLCANDY, INC. | ||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||
(in thousands of dollars, except share and per share information) | ||||
(unaudited) | ||||
Three Months Ended December 31, | Twelve Months Ended December 31, | |||
2013 | 2012 | 2013 | 2012 | |
Net sales | $ 72,249 | $ 100,970 | $ 210,092 | $ 297,686 |
Cost of goods sold | 40,817 | 56,046 | 116,958 | 158,253 |
Gross profit | 31,432 | 44,924 | 93,134 | 139,433 |
Selling, general and administrative expenses | 25,951 | 27,261 | 98,129 | 97,948 |
Income (loss) from operations | 5,481 | 17,663 | (4,995) | 41,485 |
Other (income) expense | 74 | (139) | 517 | 453 |
Interest expense | 42 | 186 | 382 | 641 |
Income (loss) before income taxes and noncontrolling interests | 5,365 | 17,616 | (5,894) | 40,391 |
Income tax expense (benefit) | 1,686 | 6,183 | (2,882) | 14,574 |
Net income (loss) | 3,679 | 11,433 | (3,012) | 25,817 |
Net income (loss) attributable to noncontrolling interests | 110 | (30) | 24 | (63) |
Net income (loss) attributable to Skullcandy, Inc. | $ 3,569 | $ 11,463 | $ (3,036) | $ 25,880 |
Net income (loss) per common share attributable to Skullcandy, Inc. | ||||
Basic | $ 0.13 | $ 0.42 | $ (0.11) | $ 0.94 |
Diluted | 0.13 | 0.41 | (0.11) | 0.92 |
Weighted average common shares outstanding | ||||
Basic | 27,777,909 | 27,593,290 | 27,740,945 | 27,405,017 |
Diluted | 28,079,543 | 27,848,927 | 27,740,945 | 27,980,983 |
SKULLCANDY, INC. | ||
CONDENSED CONSOLIDATED BALANCE SHEETS | ||
(in thousands of dollars) | ||
(unaudited) | ||
As of December 31, | ||
2013 | 2012 | |
Assets | ||
Current assets: | ||
Cash and cash equivalents | $ 38,835 | $ 19,345 |
Accounts receivable, net | 57,549 | 76,307 |
Inventories | 40,284 | 41,567 |
Prepaid expenses and other current assets | 4,663 | 5,604 |
Deferred taxes | 4,695 | 2,943 |
Total current assets | 146,026 | 145,766 |
Property and equipment, net | 10,021 | 16,000 |
Intangibles | 10,979 | 12,481 |
Goodwill | 13,867 | 13,867 |
Deferred financing fees | 224 | 161 |
Total assets | $ 181,117 | $ 188,275 |
Liabilities and stockholders' equity | ||
Current liabilities: | ||
Accounts payable | $ 16,564 | $ 22,887 |
Accrued liabilities | 22,838 | 21,047 |
Bank line of credit | — | — |
Total current liabilities | 39,402 | 43,934 |
Deferred taxes | — | 2,219 |
Commitments and contingencies | ||
Stockholders' equity: | ||
Preferred stock, par value | — | — |
Common stock, par value | 3 | 3 |
Treasury stock, 4,826,402 shares at cost at December 31, 2013 and 2012 | (43,294) | (43,294) |
Additional paid-in capital | 131,428 | 128,676 |
Accumulated other comprehensive income (loss) | (171) | (22) |
Retained earnings | 53,183 | 56,218 |
Total Skullcandy stockholders' equity | 141,149 | 141,581 |
Noncontrolling interests | 566 | 541 |
Total stockholders' equity | 141,715 | 142,122 |
Total liabilities and stockholders' equity | $ 181,117 | $ 188,275 |
SKULLCANDY, INC. | |||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
(in thousands of dollars) | |||
(unaudited) | |||
Year Ended December 31, | |||
2013 | 2012 | 2011 | |
Operating activities | |||
Net income (loss) | $ (3,012) | $ 25,816 | $ 18,621 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Depreciation and amortization | 9,428 | 6,220 | 2,031 |
Loss on disposal of property and equipment | 2,187 | 7 | 123 |
Provision for doubtful accounts | 1,312 | 3,617 | 333 |
Deferred income taxes | (4,927) | (355) | 805 |
Noncash interest expense | 177 | 241 | 6,643 |
Stock-based compensation expense | 3,632 | 6,563 | 5,243 |
Changes in operating assets and liabilities, net of effects of acquisitions: | |||
Accounts receivable | 17,305 | (29,287) | (4,219) |
Inventories | 1,140 | 2,433 | (13,966) |
Prepaid expenses and other | 1,504 | 2,679 | (4,633) |
Accounts payable | (6,338) | (343) | 7,616 |
Accrued liabilities | 1,048 | (4,049) | 10,206 |
Net cash provided by operating activities | 23,456 | 13,542 | 28,803 |
Investing activities | |||
Purchase of property and equipment | (4,111) | (10,475) | (7,559) |
Purchase of intangible assets | (20) | (244) | (31) |
Business acquisitions | — | — | (29,462) |
Net cash used in investing activities | (4,131) | (10,719) | (37,052) |
Financing activities | |||
Net borrowings (repayments) on bank line of credit | — | (9,884) | (919) |
Repayment of long-term debt | — | — | (46,780) |
Debt issuance costs | (241) | — | — |
Proceeds from issuance of common stock, net of issuance costs | 174 | — | 69,902 |
Capital contribution by joint venture partner | — | — | 600 |
Proceeds from exercise of stock options and warrants | — | 2,366 | 1,140 |
Income tax benefit related to exercise of stock options | (92) | 705 | 1,171 |
Net cash provided by (used in) financing activities | (159) | (6,813) | 25,114 |
Effect of exchange rate changes on cash and cash equivalents | 324 | 33 | (25) |
Net increase (decrease) in cash and cash equivalents | 19,490 | (3,957) | 16,840 |
Cash and cash equivalents, beginning of year | 19,345 | 23,302 | 6,462 |
Cash and cash equivalents, end of year | $ 38,835 | $ 19,345 | $ 23,302 |
Supplemental cash flow information: | |||
Cash paid for interest | $ 1 | $ 184 | $ 6,700 |
Cash paid for income tax | 7,042 | 15,112 | 3,842 |
SKULLCANDY, INC. | ||||
SEGMENT INFORMATION | ||||
(unaudited) | ||||
The | ||||
Three Months Ended December 31, | Twelve Months Ended December 31, | |||
2013 | 2012 | 2013 | 2012 | |
Net sales | ||||
| $ 57,577 | $ 82,650 | $ 160,041 | $ 250,262 |
International | 14,672 | 18,320 | 50,051 | 47,424 |
Consolidated | 72,249 | 100,970 | 210,092 | 297,686 |
Gross profit | ||||
| 25,335 | 36,655 | 70,188 | 115,712 |
International | 6,097 | 8,269 | 22,946 | 23,721 |
Consolidated | 31,432 | 44,924 | 93,134 | 139,433 |
Income (loss) from operations | ||||
| 5,200 | 14,701 | (9,057) | 31,870 |
International | 570 | 2,963 | 4,062 | 9,615 |
Consolidated | $ 5,770 | $ 17,664 | $ (4,995) | $ 41,485 |
SKULLCANDY, INC. | ||||
RECONCILIATION OF NET INCOME (LOSS) TO NON-GAAP ADJUSTED NET INCOME (LOSS) | ||||
(in thousands of dollars) | ||||
(unaudited) | ||||
Three Months Ended December 31, | Twelve months ended December 31, | |||
2013 | 2012 | 2013 | 2012 | |
Net income (loss) | $ 3,679 | $ 11,433 | $ (3,012) | $ 25,816 |
Net income (loss) attributable to noncontrolling interests | 110 | (30) | 24 | (63) |
Severance-related expenses, net of tax benefit (1) | — | — | 776 | — |
Legal and settlement expenses associated with litigation, net of tax benefit (2) | — | — | — | 418 |
Legal and settlement expenses associated with patent litigation, net of tax benefit (3) | — | 427 | — | 435 |
Bad debt expense associated with bankruptcy filing of a major retail customer, net of tax benefit (4) | — | 1,263 | — | 1,263 |
Exit costs associated with office closure (5) | 88 | — | 1,407 | — |
Non-GAAP adjusted net income (loss) | $ 3,657 | $ 13,153 | $ (853) | $ 27,995 |
(1) This item is recorded in selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. It is reflected in the schedule above net of tax benefit of | ||||
(2) This item is recorded in selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. It is reflected in the schedule above net of tax benefit of | ||||
(3) This item is recorded in selling, general and administrative expenses in the Consolidated Statements of Operations. It is reflected in the schedule above net of tax benefit of | ||||
(4) This item is recorded in selling, general and administrative expenses in the Consolidated Statements of Operations. It is reflected in the schedule above note of tax benefit of | ||||
(5) This item is recorded in selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. It is reflected in the schedule above net of tax benefit of |
SKULLCANDY, INC. | ||||
RECONCILIATION OF DILUTED EARNINGS (LOSS) PER SHARE - GAAP TO DILUTED EARNINGS (LOSS) PER SHARE - NON-GAAP | ||||
(unaudited) | ||||
Three months ended December 31, | Twelve months ended December 31, | |||
2013 | 2012 | 2013 | 2012 | |
Diluted earnings (loss) per share - GAAP | $ 0.13 | $ 0.41 | $ (0.11) | $ 0.92 |
Severance-related expenses, net of tax benefit | — | — | 0.03 | — |
Legal and settlement expenses associated with litigation, net of tax benefit | — | — | — | 0.01 |
Legal and settlement expenses associated with patent litigation, net of tax benefit | — | 0.01 | — | 0.02 |
Bad debt expense associated with bankruptcy filing of a major retail customer, net of tax benefit | — | 0.05 | — | 0.05 |
Exit costs associated with office closure | — | — | 0.05 | — |
Diluted earnings (loss) per share - non-GAAP | $ 0.13 | $ 0.47 | $ (0.03) | $ 1.00 |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |