Zebra reports lower Q3 net income, provides outlook for Q4

Zebra Technologies Corporation, a provider of barcode printing technology, has reported that net income for the third quarter ended September 29, 2012 was $27.1 million, or $0.52 per diluted share, compared to $45 million, or $0.84 per diluted share, for the same quarter ended October 1, 2011. The company expects diluted earnings per share to be in the range of $0.62 to $0.70 for the fourth quarter of 2012.

Total net sales for the third quarter ended September 29, 2012 were $252.04 million, compared to $253.34 million for the same quarter ended October 1, 2011.

Net income for the nine months ended September 29, 2012 was $87.91 million, or $1.69 per diluted share, compared to $139.6 million, or $2.55 per diluted share, for the same period ended October 1, 2011.

Total net sales for the nine months ended September 29, 2012 were $742.99 million, compared to $736.18 million for the same period ended October 1, 2011.

The company expects net sales to be in the range of $245 million to $255 million for the fourth quarter of 2012.

"Zebra delivered strong results in a challenged environment on the basis of the diversity of our business," stated Anders Gustafsson, Zebra's CEO. "Investments in sales resources and channel expansion have resulted in engagements with more customers in targeted markets. In addition, we are serving our customers with a broader array of innovative solutions from a more efficient and productive product development process. During the quarter, we also deployed $75 million on the acquisition of LaserBand and share buybacks. We remain confident in our ability to deliver increasing returns to enhance shareholder value over the long term."