Business
Zebra Technologies Announces Third-Quarter 2020 Results
Third-Quarter Financial Highlights Third-quarter net sales of $1,132 million; year-over-year increase of 0.2% Net income of $116 million and net income per
About this update from Zebra Technologies Corporation
[{"type":"text","content":"\nThird-Quarter Financial Highlights\n\n\nThird-quarter net sales of $1,132 million; year-over-year increase of 0.2%\n\n\nNet income of $116 million and net income per diluted share of $2.16, year-over-year decreases of 14.7% and 13.6%, respectively\n\n\nNon-GAAP diluted EPS decreased 4.7% year-over-year to $3.27\n\n\nAdjusted EBITDA decreased 10.5% year-over-year to $230 million\n\n\n LINCOLNSHIRE, Ill.--(BUSINESS WIRE)--\nZebra Technologies Corporation (NASDAQ: ZBRA), an innovator at the edge of the enterprise with solutions and partners that enable businesses to gain a performance edge, today announced results for the third quarter ended September 26, 2020.\n\n“In the third quarter our teams executed well in an environment that has disproportionately impacted our smaller customers and certain end-markets. We are pleased to deliver sales, EBITDA margin, and earnings per share results that exceeded our outlook, as many enterprise customers prioritized their spending on our solutions. I am proud of our employees’ resiliency and focus on serving our customers’ critical needs in these challenging times,” said Anders Gustafsson, Chief Executive Officer of Zebra Technologies. “Demand from our large strategic customers continues to be at record levels driven by accelerated trends to digitize and automate workflows as a result of the pandemic, while demand through the channel is recovering from the peak global macro pressure that we saw in the second quarter. Our strong order backlog, sales momentum, and encouraging pipeline of business gives us confidence in a strong finish to the year.”\n\n\n\n$ in millions, except per share amounts\n\n\n\n3Q20\n\n\n\n3Q19\n\n\n\nChange\n\n\n\n\n\nSelect reported measures:\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nNet sales\n\n\n\n$\n\n\n\n1,132\n\n\n\n \n\n\n\n$\n\n\n\n1,130\n\n\n\n \n\n\n\n0.2\n\n\n\n%\n\n\n\n\n\nGross profit\n\n\n\n493\n\n\n\n \n\n\n\n535\n\n\n\n \n\n\n\n(7.9\n\n\n\n%)\n\n\n\n\n\nGross margin \n\n\n\n43.6 \n\n\n\n%\n\n\n\n47.3 \n\n\n\n%\n\n\n\n(370) bps\n\n\n\n\n\nNet income\n\n\n\n116\n\n\n\n \n\n\n\n136\n\n\n\n \n\n\n\n(14.7\n\n\n\n%)\n\n\n\n\n\nNet income margin\n\n\n\n10.2 \n\n\n\n%\n\n\n\n12.0 \n\n\n\n%\n\n\n\n(180) bps\n\n\n\n\n\nNet income per diluted share\n\n\n\n$\n\n\n\n2.16\n\n\n\n \n\n\n\n$\n\n\n\n2.50\n\n\n\n \n\n\n\n(13.6\n\n\n\n%)\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n...