Tallahassee, FL 11/4/11 (StreetBeat) --Headphones maker Skullcandy Inc. (Nasdaq: SKUL) said Thursday that it moved to a profit in the third quarter as sales surged more than 57 percent. Skullcandy shares jumped $1.41, or 9.2 percent, to $16.70 in after-market trading. They ended the regular trading session up 44 cents, or 3 percent, at $15.29The company reported net income of $959,000, or 4 cents a share, for the three months ended Sept. 30. That compares with a loss of $1.2 million, or 9 cents a share, a year earlier.
The most recent results included $3.6 million in one-time charges related to a capital transaction in 2008. Revenue jumped to $60.6 million from $38.5 million in the prior-year quarter. Analysts' consensus forecast called for earnings of 9 cents a share on revenue of $50.6 million, according to FactSet.
Management said sales were driven by increases in units and average selling prices, as well as strong growth across domestic, international and online sales channels.
Skullcandy said it expects to report 2011 earnings of 78 cents a share and $231 million in revenue. By comparison, analysts are anticipating that the company will report, on average, earnings of 83 cents a share on $218.2 million in revenue.
The company's shares are currently trading at $17.21, up $1.92 or 12.56%
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