Zebra Technologies Q2 Results Beat Estimates; Ups Annual Outlook Above View

(RTTNews) - Zebra Technologies Corporation (ZBRA), a provider of enterprise asset intelligence solutions, Tuesday reported lower profit in the second quarter, despite a slight increase in revenue. However, earnings as well as revenue beat analysts' view. The company also raised its full-year outlook above the Street expectations.

Net profit was 113 million or $2.17 per share for the second quarter, lower than $144 million or $2.78 per share in the same quarter a year ago.

Excluding one-time items, profit was $165 million or $3.18 per share, that beat the analysts' average estimate of $2.8 per share. Analysts' estimates typically exclude special items.

Sales for the quarter, however, slightly increased to $1.217 billion from $1.214 billion in the previous year. The consensus estimate was for $1.18 billion.

For the third quarter, the company expects sales to increase between 25% and 28% compared to the prior year. Adjusted EPS is expected in the range of $3.00 to $3.30

Analysts expect earnings of $3.06 per share on sales growth of 24.6 percent.

For the full year, Zebra Technologies now expects net sales growth between 4% and 7%, up from the previous outlook of 1% - 5% growth. The Street is looking for 4 percent growth in sales.

Adjusted EPS is now expected in the range of $12.30 to $12.90, up from $11.25 to $12.25 guided earlier. The consensus estimate stands at $11.92 per share.