Zebra Technologies Turns To Profit In Q3

(RTTNews) - Zebra Technologies Corp. (ZBRA) reported that its net income for the third quarter of 2018 was $127 million, or $2.34 per share, compared to net loss of $12 million, or $0.23 loss per diluted share, for the third quarter of 2017.

Net sales were $1.092 billion in the third quarter of 2018 compared to $935 million in the third quarter of 2017. Net sales in the Enterprise Visibility & Mobility ("EVM") segment were $739 million in the third quarter of 2018 compared with $611 million in the third quarter of 2017.

The company expects fourth-quarter 2018 net sales to increase approximately 7% to 10% from the fourth quarter of 2017. This expectation includes an approximately 2 percentage point positive impact from the acquisition of Xplore Technologies, which closed in the third quarter of 2018, and a neutral impact from foreign currency translation.

Adjusted EBITDA margin is expected to be approximately 20% for the fourth quarter 2018, favorable to the prior year period. Non-GAAP earnings per diluted share are expected to be in the range of $2.80 to $3.00. This assumes an adjusted effective tax rate of approximately 16%.

Additionally, for the full year 2018, the company expects free cash flow of at least $575 million.