Insiders from Zebra Technologies Active on Acquisition News

02:51 08/14/2018

Three executive insiders, including, Chief Executive Officer, Anders Gustafsson, from Zebra Technologies Corporation ZBRA , acted on the companies announcement of it new acquisition.

Zebra Technologies ZBRA , an innovator at the edge of the enterprise with solutions and partners that enable businesses to gain a performance edge, today announced that it has completed its acquisition of Xplore Technologies Corporation, a leading developer of semi-, fully- and ultra-rugged tablets, 2-in-1 laptops, and a range of performance matched accessories. Xplore's offerings complement Zebra's industry-leading enterprise mobile computing, data capture, and printing portfolios, which will now serve a wider range of enterprise customers and accelerate growth.

A week ago, on August 7th, Zebra ZBRA  announced results for the second quarter ended June 30, 2018. Net sales were $1,012 million in the second quarter of 2018 compared to $896 million in the second quarter of 2017. Net sales in the Enterprise Visibility & Mobility ("EVM") segment were $661 million in the second quarter of 2018 compared with $584 million in the second quarter of 2017. Asset Intelligence & Tracking ("AIT") segment net sales were $351 million in the second quarter of 2018 compared to $313 million in the prior year period. Second-quarter 2018 gross profit was $472 million compared to $411 million in the comparable prior year period. Net income for the second quarter of 2018 was $70 million, or $1.29 per diluted share, compared to net income of $17 million, or $0.32 per diluted share, for the second quarter of 2017.

"Our second quarter results were driven by strong growth from our product and service offerings and disciplined operational execution. Sales and earnings results exceeded our previously communicated guidance ranges and strong free cash flow allowed us to reduce our net debt leverage ratio to 2.5x," said Anders Gustafsson, chief executive officer of Zebra Technologies. "Given the strength of our results, we are raising our full-year outlook for sales growth and free cash flow. We continue to deliver digital innovation that enables our customers to compete effectively in today's on-demand economy.”

The company expects third-quarter 2018 net sales to increase approximately 12% to 15% from the third quarter of 2017. This expectation includes an approximately 1 percentage point positive impact from foreign currency translation.

Zebra (NASDAQ:ZBRA) ZBRA  empowers the front line of business in retail/ecommerce, manufacturing, transportation and logistics, healthcare and other industries to achieve a performance edge. With more than 10,000 partners across 100 countries, they deliver industry-tailored, end-to-end solutions that intelligently connect people, assets and data to help their customers make business-critical decisions. Their market-leading solutions elevate the shopping experience, track and manage inventory as well as improve supply chain efficiency and patient care. Ranked on Forbes' list of America's Best Employers for the last three years, Zebra helps their customers capture their edge.

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