Skullcandy is a company many investors and many adults may have never heard of. That may change as the company has now filed its S-1 paperwork with the SEC to apply for its initial public offering.
Terms are not set but the filing is for up to $125 million in common stock to be sold and the company will list under the ticker “SKUL” on NASDAQ. The company has listed its joint book-runners as BofA/Merrill Lynch and Morgan Stanley.
The company a audio brand for headphones, and it sells apparel and accessories as well. Its motto is “Every revolution needs a soundtrack” and it has more advanced headphones than traditional in-ear headsets used by most music players.
It offers Link Technology for integrated mobile phones and personal media devices, and it now offers Skullcrusher headphones and headphones with bold color schemes, loud patterns, unique materials and creative packaging from a wide array of styles and price points. It is expanding into complementary audio products and accessories. The company is promoted through DJ’s, skateboarding, skiing, snowboarding, surfing, BMX, Moto-sports and more.
Skullcandy has increased net sales from $9.1 million in 2006 to $118.3 million in 2009. Sales in the first nine-months of 2009 were $70.7 million and that grew to $95.94 million for the first nine months of 2010. Net income for those periods was $5.568 million and $7.645 million, respectively.
The Full S-1 Filing is here.
JON C. OGG
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