Zebra Technologies Issues Q4 Outlook; Stock Up In Premarket - Update

(RTTNews) - Zebra Technologies Corp. (ZBRA), while reporting a loss in its third quarter with weak net sales, on Tuesday issued forecast for its fourth quarter.

In pre-market activity on Nasdaq, Zebra shares were gaining around 5 percent to trade at $220.

For the quarter, the company projects adjusted earnings per share to be in the range of $1.40 to $1.80.

On average, 10 analysts polled by Thomson Reuters expect earnings of $1.69 per share for the quarter. Analysts' estimates typically exclude special items.

The company expects fourth-quarter net sales to decrease between 32 percent and 36 percent compared to the prior year.

Adjusted EBITDA margin for the quarter is expected to be approximately 16 percent.

In its third quarter, net loss was $15 million or $0.28 per share, compared to net income of $170 million or $3.26 per share in the prior year. Adjusted net income was $45 million or $0.87 per share, compared to $215 million or $4.12 per share for the prior year. Analysts projected $0.81 per share.

Net sales were $956 million in the third quarter, compared to $1.38 billion in the prior year.

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