WASHINGTON (dpa-AFX) - Zebra Technologies Corp. (ZBRA) Tuesday said that its third quarter profit declined 26 percent from a year ago, impacted by higher expenses. Net sales, however, rose 5.2 percent and the company also provided the outlook for the fourth quarter.
On the NYSE, the stock is down 3.50 percent in Tuesday's pre-market trading at $300.00. ZBRA ended Monday's trade at $310.57, up 0.57 percent.
The American tech company posted net income of $101 million or $1.97 per share in the third quarter, down from $137 million or $2.64 per share in the same period last year. On an adjusted basis, income was $198 million or $3.88 per share in the three-month period, compared to $181 million or $3.49 per share in the year-ago quarter.
During the three-month period, net sales climbed 5.2 percent to $1.32 billion from $1.26 billion in the corresponding quarter of fiscal 2024.
The company said that operating expenses climbed to $451 million in the third quarter from $422 million in the prior year, mainly due to higher stock-based compensation expense.
Looking ahead, Zebra Technologies said that fourth quarter adjusted earnings are expected between $4.20 and $4.40. On average, 16 analysts expect the company to report earnings of $4.26 per share in the upcoming quarter.
Sales growth for the period is projected between 8 percent and 11 percent, in comparison to the previous year period.
The company said that from the fourth quarter and through the next 12 months, it plans to repurchase $500 million of its common stock.
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