Zebra Technologies said net sales for the current quarter were $1,175 million, compared with $1,405 million a year earlier. Operating income was $159 million, compared with $225 million. The company reported net income of $115 million, or $2.23 per diluted share, versus $2.90 a year earlier.

1. 01

   Zebra Technologies said net sales for the current quarter were $1,175 million, compared with $1,405 million a year earlier. Operating income was $159 million, compared with $225 million. The company reported net income of $115 million, or $2.23 per diluted share, versus $2.90 a year earlier.

2. 02

   The company said AIT net sales fell 24.9%, with gross margin of 46.9% compared with 49.4% a year earlier. It said EVM net sales declined 11.3%, with gross margin of 48.4% versus 46.3% in the prior year.

3. 03

   The company said net cash provided by operating activities was $125 million, compared with net cash used in operating activities of $76 million a year earlier. It cited lower cash payments for inventory purchases and a reduction in overall inventory levels as factors, along with lower employee incentive compensation and income tax payments.

4. 04

   The company expects total charges for the 2022 Productivity Plan and the U.S. voluntary retirement plan to be approximately $130 million. It has incurred $120 million to date, including $10 million in the current quarter, and said it has realized approximately $75 million in net savings.

Key figures

Quarter ended March 30, 2024

Revenue

$1.2B

Operating income

$159M

Net income

$115M

EPS

$2.23

Gross profit

$563M

Operating cash flow

$125M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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