For the third quarter of 2014, non-GAAP net income was $48,036,000, or $0.93 per diluted share, up 22.9% from $39,088,000, or $0.77 per diluted share, for the third quarter of 2013.
“Broad strength across virtually all dimensions of our business led to excellent results for the quarter,” stated Anders Gustafsson, Zebra’s CEO. “A surge in large deals complemented record distribution sales, as more customers turned to Zebra for best-of-breed solutions that provide greater visibility into critical enterprise assets worldwide.
“Favorable business momentum is continuing into the fourth quarter for Zebra and the Enterprise business that we acquired from Motorola Solutions on Oct. 27,” Gustafsson added. “Together, no other company has the scale, focus and resources dedicated to enterprise asset intelligence. Zebra is now even better positioned to take advantage of important technology trends in mobility, cloud and the Internet of Things. We have great confidence in our future, and in our ability to create value for our customers, employees and shareholders over the long term.”
As of Sept. 27, 2014, Zebra had $541,920,000 in cash and investments, and no long-term debt. Net inventories were $139,621,000, and net accounts receivable were $187,543,000.
Zebra announced its financial forecast for the fourth quarter of 2014. For the pre-transaction Zebra, the company expects net sales within a range of $300,000,000 to $310,000,000 and pro forma operating income of $55,000,000 to $63,000,000.