Zebra First Quarter 2016 Results - Net Sales Down Compared to 1Q15

LINCOLNSHIRE, Ill., May 10, 2016 /PRNewswire/ -- Zebra Technologies Corporation (NASDAQ: ZBRA), a global leader in solutions and services that provides real-time visibility into organizations' assets, people, and transactions, today announced results for the first quarter ended April 2, 2016.

Zebra Logo

"Our first quarter results were below our expectations, with lower sales and earnings reflecting the continuation of a cautious enterprise spending environment against a tough comparison to double-digit growth last year," said Anders Gustafsson, CEO of Zebra Technologies. "Despite a challenging environment, we maintained gross margins, generated stronger operating cash flow, and continued to make steady progress on our integration of the Enterprise business."

"Given our first quarter results, continued macro uncertainty, and cautious spending behavior from many of our North America, EMEA, and Latin American customers, we are introducing a tempered outlook for the second quarter and have reduced our full-year sales outlook. We are, however, taking proactive steps to ensure we maximize sales opportunities and expand margins." Continued Mr. Gustafsson, "We remain fully committed to our strategic priorities of driving profitable growth, executing on cost synergies, de-levering the balance sheet, and operating as One Zebra. Our long-term growth prospects are supported by our leadership position in providing visibility and insight into our enterprise customers' operations."

$ in millions except per share data

1Q16

1Q15

Change

Selected reported measures:

     

Net sales

$   847

$  893

(5.2)%

Gross profit

$   390

$  409

(4.6)%

   Gross margin

46.0%

45.8%

         0.2 pts.

Net loss

$    (29)

$  (25)

(16.0)%

Reported loss per share

$    (0.56)

$   (0.50)

(12.0)%

       

Selected Non-GAAP measures:

     

Adjusted net sales

$   850

$  899

(5.5)%

   Adj. net sales decline in constant currency

   

(3.2)%

Adjusted gross profit

$   393

$  415

(5.3)%

   Adjusted gross margin

46.2%

46.2%

        NM

Adjusted EBITDA

$   132

$  152

(13.2)%

   Adjusted EBITDA margin

15.5%

16.9%

       (1.4) pts.

Non-GAAP net income

$    53

$    72

(26.4)%

Non-GAAP earnings per diluted share

$    1.01

$    1.41

(28.4)%

For the full release and assorted disclosures click here

 

Other barcode industry news and info:

  1. Bayshore Networks Raises $6.6 Million From Trident Capital Cybersecurity and Investors
  2. Hitachi Unveils Lumada Internet of Things Core Platform
  3. Sensor Tadpole voted “Best New Product” at #RFIDLive 2016
  4. ELAN International Selects NGC's Apparel ERP and Shop Floor Control
  5. Polyonics Exhibits New Materials for Barcode Tags and Labels at AISTech
  6. RFID Company Partners with Quest Solution to Accelerate Enterprise Asset Tracking #RFIDLive
  7. ISN Releases Updated Mobile App with Barcode Scanner for IDs
  8. RFID Sensors - Smart Business Models Generate Demand for Real-time Condition Monitoring
  9. Champion Healthcare Technologies Awarded Device Management Agreement with Premier Inc.
  10. Air Canada Cargo Deploys Piece-Level RFID Tracking
  11. #RFIDLive - Identiv Launches Tag on Metal Media Label for Global Library Applications
  12. Retail Sourcing and Procurement Market Worth 4.83 Billion USD by 2021
  13. Inventory Management Is About More Than Counting Boxes
  14. Polyonics Expands Line of Flame Retardant Barcode Labels with Seven New Colors
  15. #RFIDLive - Identiv Launches Comprehensive UHF Tags for the Internet of Things Market
  16. CYBRA Announces RFID Lock and EnCode SmartSeals that are Tamper, Temperature Sensing
  17. Barcodes vs. RFID and the Internet of Things for Work-in-Process Tracking
  18. Mobeam Surpasses 40 Million Barcode Beaming Transactions at Retail POS
  19. Ophir Announces Photodiode Sensor For Measuring Power Of Laser Bar Code Scanners