ZBRA » Topics » General and Administrative Expenses

These excerpts taken from the ZBRA 10-K filed Feb 27, 2009.

General and Administrative Expenses

General and administrative expenses are summarized in the table below (in thousands, except percentages):

 

     December 31,    Percent   Percent of    Percent of
           2008                2007          Change   Net sales - 2008    Net sales - 2007

Three months ended

     $ 20,090          $ 21,855        (8.1)   8.6    9.4

Year ended

     87,885          81,356        8.0    9.0    9.4

Changes in general and administrative expenses, compared to the same periods in 2007, are due to the following (in thousands):

 

     Three Months Ended
December 31, 2008
        Year Ended
December 31, 2008
    

Payroll and benefit costs

      $ (2,186 )            $ (375 )  

Information systems and communications costs

        49                1,065    

Sales meeting expenses

                       2,228    

Depreciation expenses

        687                2,343    

Other changes

        (315 )              1,268    
    

Total (decreases) increases

      $ (1,765 )            $ 6,529    

General and administrative expenses decreased in the fourth quarter due to a cost reduction program consisting primarily of headcount reductions implemented during the second half of 2008 in response to the current difficult business environment. Offsetting that, in part, were changes related to the ESG acquisitions, which increased general and administrative expenses by $1,134,000 during the fourth quarter and $6,640,000 for the full year of 2008.

General and Administrative Expenses

General and administrative expenses are summarized below (in thousands, except percentages):

 

For the Year Ended    General and
Administrative Expenses
   Percent of
Net sales
      

December 31, 2007

   $    81,356                9.4    

December 31, 2006

   62,656                8.2    

Percent Change

   29.8               

For 2007, general and administrative expenses increased due to higher payroll costs of $12,911,000 and higher information systems expenses of $1,546,000. These increases were related, in part, to recent acquisitions, which increased general and administrative expenses by $2,138,000 during 2007.

This excerpt taken from the ZBRA 10-K filed Feb 29, 2008.

General and Administrative Expenses

General and administrative expenses are summarized below (in thousands, except percentages):

 

For the Year Ended

   General and
Administrative Expenses
    Percent of
Total Sales

December 31, 2006

   $ 62,656     8.2

December 31, 2005

     64,050     9.1

Percent Change

     (2.2 )  

For 2006, general and administrative expenses were affected by:

 

   

Higher payroll costs of $2,350,000,

 

   

Higher information systems expenses of $1,718,000,

 

   

Increased bad debt expenses of $944,000, and

 

   

Higher professional services and recruiting of $725,000.

These increases were more than offset by lower legal expenses of $7,373,000, which was related to the resolution of the litigation with Paxar Americas, Inc., as described below.

This excerpt taken from the ZBRA 10-Q filed Nov 2, 2007.

General and Administrative Expenses

General and administrative expenses are summarized in the table below (in thousands, except percentages):

 

     Three Months Ended    Nine Months Ended
     September 29,
2007
   September 30,
2006
   Percent
Change
   September 29,
2007
   September 30,
2006
   Percent
Change

General and administrative expenses

   $ 21,694    $ 14,642    48.2    $ 59,502    $ 44,372    34.1

Percent of sales

     10.0      7.9         9.4      8.1   

For the third quarter of 2007, the increase in general and administrative expenses compared with the third quarter of 2006 is related to $2,368,000 of increased payroll costs and $3,979,000 in one-time charges related to the retirement of former CEO Ed Kaplan and Board of Director project activity related to the search and hiring of a new chief executive officer. Year-to-date, the general and administrative expense change was also a result of increased information systems costs offset by a decrease in legal expenses.

This excerpt taken from the ZBRA 10-Q filed Aug 3, 2007.

General and Administrative Expenses

General and administrative expenses are summarized in the table below (in thousands, except percentages):

 

     Three Months Ended    Six Months Ended
     June 30,
2007
   July 1,
2006
   Percent
Change
   June 30,
2007
   July 1,
2006
   Percent
Change

General and administrative expenses

   $ 19,875    $ 15,081    31.8    $ 37,808    $ 29,730    27.2

Percent of sales

     9.5      8.0         9.1      8.2   

For the second quarter of 2007, the increase in general and administrative expenses compared to the second quarter of 2006 is related to higher payroll and benefits of $3,197,000, which includes increased SFAS No. 123(R) compensation expense of $673,000. Information system costs also increased $1,153,000. The year-to-date increases were also a result of these costs.

 

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Table of Contents
This excerpt taken from the ZBRA 10-Q filed May 4, 2007.

General and Administrative Expenses

General and administrative expenses are summarized in the table below (in thousands, except percentages):

 

     Three Months Ended
     March 31,
2007
   April 1,
2006
   Percent
Change

General and administrative expenses

   $ 17,932    $ 14,649    22.4

Percent of sales

     8.6      8.3   

For the first quarter of 2007, the increase in general and administrative expenses compared to the first quarter of 2006 is related to higher payroll and benefits of $2,718,000, which includes increased SFAS No. 123(R) compensation expense of $965,000. Information system costs also increased $1,017,000 and legal expenses decreased $907,000.

This excerpt taken from the ZBRA 10-K filed Mar 1, 2007.

General and Administrative Expenses

General and administrative expenses are summarized below (in thousands, except percentages):

 

General and

 

Percent of

 

For the Year Ended

 

Administrative Expenses

 

Total Sales

 

December 31, 2005

 

$

64,050

 

9.1

 

December 31, 2004

 

53,083

 

8.0

 

Percent Change

 

20.7

 

 

 

 

For 2005, general and administrative expenses increased due to:

·                  Higher information systems expenses of $1,220,000,

·                  Increased relocation expenses of $572,000,

·                  Higher payroll costs of $930,000, and

·                  Higher legal expenses of $6,628,000 primarily related to intellectual property expense including Paxar litigation.

29




This excerpt taken from the ZBRA 10-Q filed Nov 8, 2006.

General and Administrative Expenses

General and administrative expenses are summarized in the table below (in thousands, except percentages):

 

     Three Months Ended     Nine Months Ended  
   September 30,
2006
   October 1,
2005
(restated)
   Percent
Change
    September 30,
2006
   October 1,
2005
(restated)
   Percent
Change
 

General and administrative expenses

   $ 14,642    $ 15,631    (6.3 )   $ 44,372    $ 49,234    (9.9 )

Percent of sales

     7.9      8.9        8.1      9.4   

The decrease in general and administrative expenses this quarter is the result of lower legal expenses ($2,681,000) largely related to decline in litigation activity with Paxar as described in Note 11 to the Consolidated Financial Statements. Offsetting this decrease is an increase in payroll costs of $603,000 and information system expenditures of $520,000. For the year to-date, legal expenses declined $6,278,000 from the same period in 2005, offset by increases in payroll and information system expenses

This excerpt taken from the ZBRA 10-Q filed Aug 7, 2006.

General and Administrative Expenses

General and administrative expenses are summarized in the table below (in thousands, except percentages):

 

     Three Months Ended     Six Months Ended  
     July 1,
2006
   July 2,
2005
(restated)
   Percent
Change
    July 1,
2006
   July 2,
2005
(restated)
   Percent
Change
 

General and administrative expenses

   $ 15,081    $ 17,800    (15.3 )   $ 29,730    $ 33,603    (11.5 )

Percent of sales

     8.0      10.1        8.2      9.7   

For the second quarter of 2006, the decrease in general and administrative expenses is the result of lower legal expenses ($2,920,000) largely related to litigation with Paxar as described in Note 11 to the Consolidated Financial Statements included in this Report. For the year to-date, legal expenses declined $3,598,000 from the same period in 2005. During this period, we also saw a decline in other patent legal activity. We expect legal expenses to increase beginning in the last half of 2006 and into the first quarter of 2007 as we near the trial date for the Paxar litigation.

 

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Table of Contents
This excerpt taken from the ZBRA 10-Q filed May 10, 2006.

General and Administrative Expenses

General and administrative expenses are summarized in the table below (in thousands, except percentages):

 

     Three Months Ended  
     April 1,
2006
   April 2,
2005
(restated)
   Percent
Change
 

General and administrative expenses

   $ 14,649    $ 15,802    (7.3 )

Percent of sales

     8.3      9.3   

For the first quarter of 2006, the decrease in general and administrative expenses is related to lower audit fees ($347,000) and lower legal expenses ($677,000). The decrease in audit fees is related to additional expenses in the first quarter of 2005 for year-end compliance with Section 404 of the Sarbanes-Oxley Act. The decrease in legal expenses is related to litigation with Paxar as described in Note 12 to the Consolidated Financial Statements included in this Report. We expect legal expenses to increase beginning in the last half of 2006 and into the first quarter of 2007 as we near the trial date for the Paxar trial.

This excerpt taken from the ZBRA 10-K filed Feb 28, 2006.

General and Administrative Expenses

General and administrative expenses are summarized below (in thousands, except percentages):

 

 

 

General and

 

Percent of

 

For the Year Ended

 

Administrative Expenses

 

Total Sales

 

December 31, 2004

 

$

49,240

 

7.4

 

December 31, 2003

 

41,352

 

7.7

 

Percent Change

 

19.1

 

 

 

 

For 2004, general and administrative expenses include $4,111,000 of increased legal expenses related to:

 

                  Litigation with Paxar,

                  Increased intellectual property work, and

                  International expansion activity.

 

In addition to legal expenses in 2004, we saw an increase in payroll costs and information system expenses.

 

This excerpt taken from the ZBRA 10-Q filed May 6, 2005.

General and Administrative Expenses

General and administrative expenses are summarized in the table below (in thousands, except percentages):

 

 

 

Three Months Ended

 

Percent Change

 

 

 

 

 

 

 

April 2, 2005

 

April 3, 2004

 

 

 

General and administrative expenses

 

$

14,946

 

$

12,763

 

17.1

 

 

 

 

 

Percent of sales

 

 

8.8

 

 

8.3

 

 

 

 

 

 

 

 

For the first quarter of 2005, audit fees increased $404,000 and legal expenses increased $1,436,000. The increase in audit fees is related to year-end compliance with Section 404 of the Sarbanes-Oxley Act. The increase in legal expenses is related to litigation with Paxar as described in Note 12 and increased intellectual property work. We expect higher legal expenses to continue for subsequent quarters based on the legal activity we are currently experiencing.

 

This excerpt taken from the ZBRA 10-K filed Mar 3, 2005.

General and Administrative Expenses

General and administrative expenses are summarized below (in thousands, except percentages):

 

For the Year Ended

 

General and
Administrative Expenses

 

Percent of
Total Sales

 

December 31, 2003

 

$

41,892

 

7.8

 

December 31, 2002

 

38,689

 

8.1

 

Percent Change

 

8.3

 

 

 

 

22



 

For 2003, general and administrative expenses include $596,000 of increased legal expenses related to:

                  Litigation with Paxar,

                  Increased intellectual property work,

                  International activity, and

                  General contract review.

 

In addition to legal expenses in 2003, we saw an increase in director and officer liability insurance and administrative personnel costs. A portion of these costs resulted from new compliance requirements of the Sarbanes-Oxley Act of 2002 and related regulations. Offsetting these increases was a decline in consulting expenses.

 

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