ORLANDO, Fla., May 29, 2008 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., has initiated coverage on ZAGG, Inc. (OTCBB:ZAGG), a leading producer of clear protective coverings under the brand name invisibleSHIELD(tm) and other electronic accessories.
Gaurav Aggarwal, MBA, RedChip Research Analyst, reported:
"The market opportunity for ZAGG's product line is virtually unlimited. In the consumer electronics market alone, there are literally hundreds of models of handheld electronic devices that need protection from normal everyday use. As sales of these electronic devices continue to grow, we expect demand for ZAGG's complementary products will grow as well."
"ZAGG has achieved solid revenue growth since its inception, and we estimate the Company will more than double sales in 2008 while simultaneously maintaining impressive gross margin," Aggarwal continued.
"We believe ZAGG offers a conservative investment opportunity in a specialty retail environment free from the volatile swings of fashion. We are initiating coverage of ZAGG with a 'Speculative Buy' rating and a 12-month target price of $1.80," Aggarwal concluded.
To receive a complimentary copy of the RedChip Visibility Initial Research Report for ZAGG, Inc., please visit: http://www.redchip.com/visibility/about.asp?page=vreport&reportid=110&from=05292008pr.
To hear the RedChip Real Radio broadcast interviews featuring ZAGG, visit http://www.redchip.com/visibility/Radio/radioMain.asp?page=archive.
To learn more about ZAGG, visit http://www.redchip.com/visibility/investor.asp?symbol=ZAGG.
About ZAGG
ZAGG, Inc. designs, manufactures, and distributes protective coverings and accessories for consumer electronic and hand-held devices, worldwide. ZAGG's flagship brand, the invisibleSHIELD(tm), is a protective, scratch-proof film for high-tech film covering, designed for iPods, laptops, cell phones, digital cameras, PDAs, watch faces, GPS systems, gaming devices, and other items. The patent-pending invisibleSHIELD is the first scratch protection solution of its kind on the market. Currently, ZAGG offers over 2,500 precision pre-cut gadget designs that all come with a lifetime replacement warranty through online channels, resellers, college bookstores, Mac stores and mall kiosks. For more information please visit the company's web sites at www.ZAGG.com and www.invisibleSHIELD.com.
About RedChip Companies, Inc.
RedChip Companies is an international, small-cap research and financial public relations firm with offices in Maitland, Florida; Bangalore, India; and Beijing, with affiliates in New York and San Diego. RedChip delivers concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. RedChip has developed the most comprehensive platform of products and services for small-cap companies, including: RedChip Research(tm), Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences, RedChip Internet TV(tm), and RedChip Radio(tm). To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/productsandservices.asp.
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Disclosure
None of the profiles issued by RedChip Companies, Inc., constitutes a recommendation for any investor to purchase or sell any particular security or that any security is suitable for any investor. ZAGG, Inc. paid RedChip Visibility, a division of RedChip Companies, Inc., $30,000 for RedChip Visibility Program services, which included the preparation of this equity research report.