Walking through the Skullcandy you probably wouldn’t have guessed that the company had just filed to raise $125 million in an initial public offering. Things were a party as usual. However behind the party scene, Skullcandy is making moves and planning to get bigger. Their own revolution if you will. For which the soundtrack will be played through Skullcandy headphones all over the world. Perhaps even the universe.
Headphone maker Skullcandy filed with U.S. regulators on Friday to raise up to $125 million in an initial public offering.
The Park City, Utah-based company sponsors athletes and musicians including Snoop Dogg, and its motto is “Every revolution needs a soundtrack.”
Net sales rose 35.7 percent to $95.9 million in the nine months ended Sept. 30, compared with the year-earlier period. The net income available to common stockholders swung to a $7.6 million profit from a $4.4 million loss in the same period.
Underwriters on the offering are being led by Bank of America Merrill Lynch and Morgan Stanley. The shares are expected to trade on the Nasdaq under the symbol “SKUL.”