Zebra Technologies Announces Fourth-Quarter and Full-Year 2018 Results

Financial Highlights

• Strong fourth-quarter net sales of $1,137 million; year-over-year growth of 10.8%
• Fourth-quarter net income of $115 million and net income per diluted share of $2.11
• Fourth-quarter non-GAAP diluted EPS increased 33% year-over-year to $3.10
• Fourth-quarter adjusted EBITDA increased 17.6% year-over-year to $240 million; and adjusted EBITDA margin expanded 120 bps year-over-year to 21.1%
• Generated $785 million of cash from operations and $721 million of free cash flow in 2018

Lincolnshire, Ill., Feb. 14, 2019 — Zebra Technologies Corporation (NASDAQ: ZBRA), an innovator at the edge of the enterprise with solutions and partners that enable businesses to gain a performance edge, today announced results for the fourth quarter and full year ended December 31, 2018.

“Our teams executed well in the fourth quarter, driving us to an exceptional finish to 2018. Sales, EBITDA margin, and earnings per share, each exceeded our outlook. Strong free cash flow enabled us to reduce our net debt leverage ratio to 1.8x,” said Anders Gustafsson, chief executive officer of Zebra Technologies. “Our momentum continues into 2019 with our leading portfolio of solutions and strong order backlog. We are well-positioned to accelerate our strategy through organic and inorganic investments to drive our enterprise asset intelligence vision.”