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ZAGG Inc. (Nasdaq: ZAGG) $9.55. Announced Tuesday after market close financial results for the first quarter ended March 31, 2011. Revenue for the first quarter was $27.0 million, a 207% increase from $8.8 million in the first quarter of 2010 and an 8% sequential decline as compared to $29.3 million in the fourth quarter of 2010. Revenue by channel was 76% indirect and 24% direct.
Gross profit for the first quarter was $13.6 million, compared to $4.9 million in the first quarter of 2010, and $13.4 million in the previous quarter. Gross margin was 51% versus 56% in the same period a year ago and 46% in the previous quarter. Better than anticipated gross margins in the quarter were due to the high level of online sales, particularly of the ZAGGmate, ZAGG's tablet computer case with keyboard for the Apple iPad.
Net income attributable to stockholders for the first quarter was $3.3 million or $0.13 per share as compared to net income attributable to stockholders of $0.8 million or $0.03 per share in the first quarter of 2010, and $3.3 million or $0.13 per share in the fourth quarter of 2010.
What They Do: ZAGG Inc. is a market leader in innovative mobile device accessories.
Halozyme Therapeutics (Nasdaq: HALO) $6.67, and ViroPharma Incorporated, today announced the signing of a worldwide exclusive licensing agreement for the use of rHuPH20 (recombinant human hyaluronidase) in the development of a subcutaneous formulation of Cinryze (C1 esterase inhibitor [human]). Under terms of the agreement, Halozyme may receive up to $83 million, commencing with an upfront payment of $9 million and total potential future milestone payments of $74 million dependent upon the achievement of clinical and regulatory targets, plus a 10% royalty on future sales of the combination of Cinryze with rHuPH20. The license provides ViroPharma with exclusivity to C1 esterase inhibition and to the hereditary angioedema (HAE) indication, along with three additional orphan indications. ViroPharma will fund all development and commercialization expenses for the program. Additional terms of the transaction have not been disclosed.
What They Do: Halozyme Therapeutics is a biopharmaceutical company developing and commercializing products targeting the extracellular matrix for the insulin, cancer, dermatology and drug delivery markets.
Amtech Systems (Nasdaq: ASYS) $21.17. Announced Tuesday after market close record financial results for its second quarter fiscal 2011 ended March 31, 2011. Record net revenue of $61.3 million, up 14% sequentially from $53.7 million in Q1 2011. Record solar revenue of $53.2 million, up 16% sequentially from $45.9 million in Q1 2011. Quarterly bookings of $73 million ($60 million solar); fiscal year-to-date bookings of $210 million ($189 million solar). Record quarter-end backlog of $195 million ($180 million solar), up 13% sequentially from $173 million ($162 million solar) at December 31, 2010. Gross margin improved to 40%, compared to 36% sequentially. Operating income of $12.5 million, up 50% from $8.4 million sequentially. Record net income of $7.5 million, or $0.77 per diluted share, compared to net income of $5.0 million, or $0.52 per diluted share, sequentially.
What They Do: Amtech Systems, Inc. manufactures capital equipment, including silicon wafer handling automation, thermal processing equipment and related consumables used in fabricating solar cells, LED and semiconductor devices.
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