Zebra Tech Q2 Profit Increases; To Buy Back Up To $1 Bln Of Shares

(RTTNews) - Zebra Technologies Corp. (ZBRA) reported that its net income for the second quarter of 2019 increased to $124 million or $2.26 per share, from $70 million or $1.29 per share last year. The company also said its board authorized the repurchase of up to $1 billion of shares of Common Stock.

Non-GAAP net income for the quarter was $165 million or $3.02 per share, compared with $135 million or $2.48 per share in the prior year.

Consolidated net sales were $1.097 billion compared to $1.012 billion in the prior year period, an increase of 8.4%. Consolidated organic net sales growth for the second quarter was 7.0% reflecting solid growth in North America, EMEA and APAC.

Analysts polled by Thomson Reuters expected the company to report earnings of $2.89 per share and revenues of $1.09 billion. Analysts' estimates typically exclude special items for the second-quarter.

The company expects third-quarter 2019 net sales to increase approximately 3% to 5% from the third quarter of 2018. Non-GAAP earnings per share are expected to be in the range of $3.15 to $3.35. Analysts project third-quarter earnings of $3.25 per share.

The company expects full-year 2019 net sales to increase about 5% to 8% from 2018. The expectation includes an about 2 percentage point positive impact from recently acquired businesses, and an about 1 percentage point negative impact from foreign currency translation.