Headphones and audio accessories manufacturer, Skullcandy, reported a nearly 30 percent drop in net sales in the second quarter as the Park City-based company restructures its management team.
The company, which produces branded headphones for mobile devices as well as activewear, posted a net sales loss of 29.9 percent to $50.8 million compared to the same time last year, according to its financial report. North American net sales decreased 39.1 percent to $39 million from $64.1 million the same quarter last year. Meanwhile, international net sales increased 40.6 percent to $11.8 million compared to last year's second quarter.
"The second quarter was about taking the initial steps toward getting our house in order to drive positive, long-term transformation at Skullcandy," Hoby Darling, Skullcandy's CEO and president, said in a statement.