![]() ![]() This expectation includes an approximately 300 to 350 basis point additive impact from the Reflexis acquisition and foreign currency translation.Īdjusted EBITDA margin is expected to be slightly higher than 23%, which includes $10 million of premium freight expense. The company expects adjusted net sales to increase 25% to 29% compared to the first quarter of 2020 as the global economy continues to recover and we realize pent up demand from many of our customers. Additionally, the company made $200 million of share repurchases in 2020 under its existing share repurchase authorization, all during the first quarter. The company made cash interest payments of $38 million in 2020 compared to $63 million in the prior year period. For the full year 2020, the company made payments of long-term debt of $342 million and received proceeds from the issuance of long-term debt of $302 million, resulting in $40 million of net debt repayments. for $548 million in cash and made $32 million in venture investments. In 2020, the company acquired Reflexis Systems, Inc. Non-GAAP net income for the fourth quarter of 2020 increased to $240 million, or $4.46 per diluted share, compared to $194 million, or $3.56 per diluted share, for the prior year period.Īdjusted EBITDA for the fourth quarter of 2020 increased to $308 million, or 23.5% of adjusted net sales, compared to $255 million, or 21.4% of adjusted net sales, for the fourth quarter of 2019 due to higher gross margin and lower operating expense as a percentage of net sales.Īs of December 31, 2020, the company had cash and cash equivalents of $168 million and total debt of $1,252 million.įor the full year 2020, the company generated $962 million of operating cash flow and incurred capital expenditures of $67 million, resulting in free cash flow of $895 million. Net income for the fourth quarter of 2020 was $199 million, or $3.70 per diluted share, compared to net income of $169 million, or $3.10 per diluted share, for the fourth quarter of 2019. Adjusted operating expenses increased in the fourth quarter of 2020 to $336 million from $308 million in the prior year period. Operating expenses increased in the fourth quarter of 2020 to $387 million from $356 million in the prior year period primarily due to increased research and development costs and expenses associated with business acquisitions, partially offset by lower discretionary spending. Adjusted gross margin was 47.8% in the fourth quarter of 2020, compared to 45.8% in the prior year period. This increase was primarily due to a $12 million recovery of prior period Chinese import tariffs, as well as higher services and software margin. Gross margin increased to 47.2% for the fourth quarter of 2020, compared to 45.6% in the prior year period. Fourth-quarter year-over-year organic net sales increased by 5.6% in the EVM segment and by 14.0% in the AIT segment.įourth-quarter 2020 gross profit was $618 million compared to $544 million in the prior year period. Consolidated organic net sales for the fourth quarter increased 8.3%. Asset Intelligence & Tracking ("AIT") segment net sales were $434 million in the fourth quarter of 2020 compared to $379 million in the prior year period. ![]() Net sales in the Enterprise Visibility & Mobility ("EVM") segment were $879 million in the fourth quarter of 2020 compared with $813 million in the fourth quarter of 2019. Net sales were $1,308 million in the fourth quarter of 2020 compared to $1,192 million in the fourth quarter of 2019. We continue to be excited about our unique capability to digitize and automate our customers’ workflows in an increasingly on-demand economy."ĭownload PDF with consolidated balance sheet, cash flow and income statements ![]() This positions us well for double-digit sales growth for the first quarter and full year 2021. "We entered the new year with a strong order backlog as small business demand recovers and business with our large customers continues to be robust. We achieved record quarterly sales, EBITDA, earnings per share, and free cash flow, significantly exceeding our outlook," said Anders Gustafsson, Chief Executive Officer of Zebra Technologies. “I'm proud of our team's exceptional fourth quarter performance to close out a challenging 2020. Lincolnshire, Ill., February 11, 2021 - Zebra Technologies Corporation (NASDAQ: ZBRA), an innovator at the edge of the enterprise with solutions and partners that enable businesses to gain a performance edge, today announced results for the fourth quarter ended December 31, 2020. ![]()
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