Exhibit 99.1
ZAGG INC AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except par value)
(Unaudited)
 
   
December 31,
   
December 31,
 
   
2012
   
2011
 
             
ASSETS
           
             
Current assets
           
Cash and cash equivalents
  $ 20,177     $ 26,433  
Accounts receivable, net of allowances of $2,974 in 2012 and $2,070 in 2011
    54,561       45,450  
Inventories
    39,988       29,622  
Prepaid expenses and other current assets
    9,547       1,593  
Deferred income tax assets
    7,846       5,132  
                 
Total current assets
    132,119       108,230  
                 
Investment in HzO
    2,013       4,879  
                 
Property and equipment, net of accumulated depreciation at $3,317 in 2012 and $1,857 in 2011
    4,862       4,162  
                 
Goodwill
    1,484       6,925  
                 
Intangible assets, net of accumulated amortization at $13,790 in 2012 and $3,989 in 2011
    57,905       73,691  
                 
Deferred income tax assets
    5,662       82  
                 
Note receivable
    583       1,349  
                 
Other assets
    1,457       3,010  
                 
Total assets
  $ 206,085     $ 202,328  
                 
LIABILITIES AND STOCKHOLDERS' EQUITY
               
                 
Current liabilities
               
Accounts payable
  $ 19,027     $ 16,013  
Income taxes payable
    3,062       4,294  
Accrued liabilities
    3,754       3,886  
Accrued wages and wage related expenses
    2,554       1,468  
Deferred revenue
    722       320  
Current portion of note payable
    6,000       2,372  
Sales returns liability
    6,697       5,387  
                 
Total current liabilities
    41,816       33,740  
                 
Revolving line of credit
    22,173       23,332  
                 
Noncurrent portion of note payable
    18,000       42,628  
                 
Total liabilities
    81,989       99,700  
                 
Stockholders' equity
               
Common stock, $0.001 par value; 100,000 shares authorized;
               
31,215 and 29,782 shares issued and outstanding, respectively
    31       30  
Additional paid-in capital
    77,234       70,248  
Accumulated other comprehensive income
    (57 )     (33 )
Note receivable collateralized by stock
    (566 )     (566 )
Retained earnings
    47,454       32,949  
                 
Total stockholders' equity
    124,096       102,628  
                 
Total liabilities and stockholders' equity
  $ 206,085     $ 202,328  
                 
                 
 
 
 
1

The following information was filed by Zagg Inc (ZAGG) on Tuesday, February 26, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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