Zebra Technologies Corp. (NASDAQ: ZBRA)
Illinois-based firm, Zebra Technologies Corp, presented its second quarter financial report on Tuesday, for the three months to June 30, 2018.
The company beat Street views on both top and bottom lines., and raised its earnings per share guidance for the third quarter.
Following the exciting results, shares of the company climbed $21.18, or 14.90% to trade at $163.17 at 3:25 p.m. The stock has gained nearly 37% year-to-date and jumped 48% in the last twelve months.
Popular for producing printers for bar codes, radio-frequency identification tags, and plastic cards, Zebra Technologies has beaten EPS expectations four times in the past four quarters.
ZBRA Earnings & Outlook
The enterprise asset tracking company said it had a net income of $70 million and net income per diluted share of $1.29.
Adjusted earnings were $2.48 per share during the quarter, an increase of 64% from the second quarter of the previous year. Total revenues came in at $1.012 billion, up 13% year over year.
Zacks Investment Research, based on analyst projections, had expected the company to report adjusted earnings of $2.25 per share on sales of $990.1 million.
Looking ahead, Zebra Technologies hopes to post adjusted earnings of $2.60 per share on sales of $1.061 billion, for its third quarter.
Analysts have modeled earnings of between $2.50 and $2.70 per share on sales of $988 million.
Zebra Technologies CEO Comments
“Our second quarter results were driven by strong growth from our product and service offerings and disciplined operational execution. Sales and earnings results exceeded our previously communicated guidance ranges and strong free cash flow allowed us to reduce our net debt leverage ratio to 2.5x,” said Anders Gustafsson, Chief Executive Officer of Zebra Technologies. “Given the strength of our results, we are raising our full-year outlook for sales growth and free cash flow. We continue to deliver digital innovation that enables our customers to compete effectively in today’s on-demand economy,” concluded Gustafsson.
Zebra Technologies Corp. Company Profile
Zebra Technologies Corp., together with its subsidiaries, designs, manufactures, and sells a range of automatic identification and data capture (AIDC) products worldwide.
The company offers AIDC products, including mobile computers, barcode scanners, radio frequency identification device readers, specialty printers for barcode labeling and personal identification.
It also offers real-time location systems; related accessories and supplies, such as self-adhesive labels and other consumables; and software utilities and applications.
In addition, the company also provides a range of services, including maintenance, technical support, repair, and managed and professional services, including cloud-based subscriptions.
It serves retail and e-commerce, transportation and logistics, manufacturing, health care, hospitality, warehouse and distribution, energy and utilities, government, and education enterprises.
The company sells its products, solutions, and services through distributors, value added resellers, independent software vendors, direct marketers, and original equipment manufacturers.
Zebra Technologies Corp. was founded in 1969 by Gerhard Cless and Edward L. Kaplan. Its headquarters are based in Lincolnshire, Illinois. –Reuters
