ZBRA » Topics » Strong sequential increases in sales and earnings led by improved business in North America

This excerpt taken from the ZBRA 8-K filed Nov 4, 2009.

Strong sequential increases in sales and earnings led by improved business in North America

Lincolnshire, IL, November 4, 2009—Zebra Technologies Corporation (NASDAQ: ZBRA) today announced net sales of $200,778,000 for the quarter that ended October 3, 2009, compared with $244,073,000 for the corresponding period a year ago. Quarterly net income was $11,111,000, or $0.19 per diluted share, including $3,515,000 in exit, restructuring and integration costs which lowered diluted earnings by $0.04 per share. Net income for the third quarter of 2008 was $25,770,000, or $0.40 per diluted share, including a $0.04 per diluted share impact from exit, restructuring and integration costs.

“We are pleased to report better-than-expected sales and solid earnings performance for the third quarter,” stated Anders Gustafsson, Zebra’s chief executive officer. “These results were in large part driven by not only increasing demand for our products, but also our strategic commitment over the last year to continue investment in areas that strengthen Zebra’s future. We reinforced our industry-leading position, maintained strong cash flows and began to realize the initial benefits from our outsourcing activities.”

Mr. Gustafsson continued, “Around the world, as we continue to drive competitive advantage through innovation, more customers are turning to Zebra to help them improve business performance and supply chain execution with our industry-leading suite of specialty printing, RFID and other asset tracking solutions. Zebra will continue to capitalize on our strategic and financial strength as the business environment improves by investing in global expansion and other high-returning activities to deliver better customer service, improve operational efficiency, and build stockholder value.”

At October 3, 2009, Zebra had $223,272,000 in cash and investments, and no long-term debt. Net inventories were $79,807,000, and net accounts receivable were $144,375,000.

 

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