Zebra Technologies Announces Record Sales and Earnings for the 2013 Third Quarter


Posted on November 11, 2013 @ 08:15 am



Zebra Technologies announced 2013 third quarter diluted earnings per share from continuing operations of a record $0.76, including exit, restructuring and acquisition costs that reduced earnings by $0.01 per share. Income from continuing operations for the third quarter of 2012 totaled $0.51 per share, which included acquisition costs and a non-cash asset impairment charge that reduced earnings by $0.19 per share. Net sales for the quarter ended Sept. 28, 2013, increased 4.6% to a record $263,523,000 from $252,037,000 for the third quarter of 2012.

“A steady run-rate business through the quarter complemented an improving pipeline for large enterprise deals, as we continued to extend Zebra’s industry leadership,” stated Anders Gustafsson, Zebra’s CEO. “Favorable trends with customers in manufacturing, retail and healthcare, are resulting from our success in developing strong channels and securing tighter engagements with strategic customers. Zebra’s expanding range of products and solutions are enabling our customers to gain greater visibility across their value chains. Zebra remains well positioned to benefit from important technology trends such as the Internet of Things, Big Data and Cloud Computing which are creating new opportunities for growth and shareholder value creation.”

As of Sept. 28, 2013, Zebra had $466,325,000 in cash and investments, and no long-term debt. Net inventories were $106,628,000, and net accounts receivable were $175,639,000. For the first nine months of 2013, net sales were $753,620,000, compared with $742,989,000 for the first nine months of 2012. Net income for the nine months ending Sept. 28, 2013, was $92,708,000, or $1.81 per diluted share, compared with $87,914,000, or $1.69 per diluted share, for the same period in 2012.

Net sales growth of 4.6% included sales growth in all regions, including record sales in North America and Asia Pacific. The increase was primarily due to high sales of supplies, aftermarket parts and services. The 11.7% growth in supplies, which include labels, thermal ribbons and wristbands, was all on an organic basis. Gross profit margin of 48.8%, versus 50.4% for 2012, reflects changes in product mix and higher costs for freight-in.

During the third quarter of 2013, Zebra returned $29,896,000 to shareholders through the repurchase of 641,719 shares of Zebra Technologies Corporation Class A Common Stock at a weighted average price of $46.59 per share. At Sept. 28, 2013, the company had 753,575 shares remaining in its stock buyback authorization, and 50,229,576 shares of common stock were outstanding.

Zebra announced its financial forecast for the fourth quarter of 2013. Net sales are expected within a range of $263,000,000 to $273,000,000. Diluted earnings per share are expected within a range of $0.72 to $0.82.

Calendar

<November>
SMTWTFS
     12
3456789
10111213141516
17181920212223
24252627282930
By Company:
By Category:
By Term:

Search Site

Got News? Send it to us!

If you have news in the Printed Electronics Industry, please feel free to send it to us!

Send your news to