8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): April 30, 2012

Intermec, Inc.

(Exact name of registrant as specified in its charter)

Delaware	001-13279	95-4647021
(State or other jurisdiction of incorporation)	(Commission file number)	(I.R.S. Employer Identification Number)
6001 36th Avenue West Everett, Washington www.intermec.com		98203-1264
(Address of principal executive offices and internet site)		(Zip Code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01 Entry into a Material Definitive Agreement.

On April 30, 2012, Intermec, Inc. (“we,” “our” or “the Company”) entered into a Fourth Amendment to the Amended and Restated Credit Agreement (the “Fourth Amendment”) with Wells Fargo Bank, National Association, amending certain terms and conditions of the Amended and Restated Credit Agreement, dated as of January 14, 2011, as amended. A description of material terms of this Fourth Amendment to the Amended and Restated Credit Agreement is hereby incorporated by reference from Item 2.04 of this Report.

Item 2.02 Results of Operations and Financial Condition.

Preliminary Financial Results for the First Quarter of 2012

On May 1, 2012, we issued a press release announcing our preliminary financial results for the first fiscal quarter ended April 1, 2012. A copy of the press release is furnished as Exhibit 99.1 to this Current Report and is incorporated herein by reference (the “Earnings Press Release”).

In conjunction with its financial analysis and reporting procedures and based on its current market capitalization, the Company is evaluating its goodwill and long-lived assets including its intangible assets for impairment and its deferred tax assets for a valuation allowance for the first quarter of 2012. The final loss per share reported for the quarter could be greater than the preliminary results reported in this press release if either or both of these items require adjustment as a result of this analysis. Any such adjustments would be non-cash charges and are not expected to result in any change to our Non-GAAP results.

The Earnings Press Release includes the following non-GAAP financial measures for the fiscal quarter ended April 1, 2012:

• operating income;

• net earnings;

• earnings per diluted share;

• earnings before interest, taxes, depreciation and amortization (EBITDA); and

• gross margins.

Reconciliations of each of these first quarter 2012 non-GAAP financial measures to the most directly comparable GAAP financial measures are detailed in the Reconciliation of Preliminary GAAP to Non-GAAP Net Earnings, and in the Reconciliation of Preliminary GAAP to Non-GAAP Gross Margins, attached to the Earnings Press Release.

The Earnings Press Release also includes supplemental information regarding the calculation of earnings before interest, taxes, depreciation and amortization (“EBITDA”) and Adjusted EBITDA.

Correction of Reconciliations of 2011 Non-GAAP financial measures to 2011 GAAP Financial Measures

The reconciliations of non-GAAP financial measures that we used in connection with our earnings releases for each of our 2011 fiscal quarters contained certain errors and adjustments that we consider to be immaterial. Nevertheless, we believe that it is important for us to be consistent and correct in comparing non-GAAP financial measures when comparing our 2012 results with our 2011 results. Accordingly, we are furnishing with this Current Report non-GAAP financial measures related to our financial performance for the three months ended April 3, July 3, October 2, and December 31, 2011, respectively, and for the twelve months ended December 31, 2011 (collectively, the “2011 Non-GAAP Measures”). The 2011 Non-GAAP Measures are attached hereto as Exhibit 99.2 and are incorporated herein by reference.

Exhibit 99.2 includes the following non-GAAP financial measures for the reporting periods indicated above:

• operating income;

• net earnings;

• earnings per diluted share;

• earnings before interest, taxes, depreciation and amortization (EBITDA); and

• gross margins.

Exhibit 99.2 also includes supplemental information regarding the calculation of earnings before interest, taxes, depreciation and amortization (“EBITDA”) and Adjusted EBITDA.

General

Our non-GAAP financial measures should be read in conjunction with the corresponding GAAP financial measures. The non-GAAP financial measures should be considered in addition to, and not as an alternative or substitute for, the measures prepared in accordance with generally accepted accounting principles.

We believe that excluding restructuring charges, costs related to acquisitions and certain accounting adjustments, amortization of intangibles, non-cash stock based compensation expenses, and non-cash expense and impairment charges provides supplemental information useful to investors’ and management’s understanding of our core operating results, especially when comparing those results on a consistent basis to results for previous periods and anticipated results for future periods.

The foregoing information in this Item 2.02 is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Item 2.04 Triggering Event that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-balance Sheet Arrangement.

We are party to an Amended and Restated Credit Agreement dated as of January 14, 2011 (as amended through the date hereof, the “Credit Agreement”), with Wells Fargo Bank, National Association (“WFB”). The Credit Agreement includes covenants requiring that we meet certain minimum financial performance thresholds.

In connection with our evaluation of our preliminary financial results for the first fiscal quarter of 2012 described in Item 2.02 above, we informed WFB that we did not expect to be in compliance with the net income before taxes covenant as defined in the Credit Agreement, due to lower than anticipated revenues. Our failure to be in compliance with this covenant would, unless waived by WFB, constitute an event of default under the Credit Agreement and could give WFB, among other remedies, the right to declare all obligations under the Credit Agreement immediately due and payable. We promptly commenced discussions with WFB to amend the financial covenants under the Credit Agreement to provide for these charges.

On April 30, 2012, we entered into a Fourth Amendment to Amended and Restated Credit Agreement (the “Fourth Amendment”) to replace the financial covenants related to tangible net worth, annual net income after taxes, and adjusted net income before taxes with a new financial covenant related to minimum adjusted EBITDA. The Fourth Amendment is effective as of March 30, 2012. The new covenant, which is measured beginning with the second fiscal quarter of 2012 and for each subsequent fiscal quarter, requires minimum adjusted EBITDA for the trailing twelve months period of $25 million for the second fiscal quarter of 2012, $35 million for the third fiscal quarter of 2012 and $45 million for each subsequent fiscal quarter. The Fourth Amendment also includes a new covenant that we will not, without obtaining WFB’s prior written consent, consummate any acquisition unless, among other things, such acquisition involves cash consideration equal to, or lesser than, $30 million.

The foregoing description of the Fourth Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Fourth Amendment, which is filed as Exhibit 10.1 to this current report and is incorporated herein by reference. In addition:

• a copy of the Credit Agreement is incorporated herein by reference as Exhibit 10.2,

• a copy of the First Amendment to Amended and Restated Credit Agreement, dated as of March 3, 2011, by and between Intermec, Inc. and Wells Fargo Bank, National Association is incorporated herein by reference as Exhibit 10.3,

• a copy of the Second Amendment to Amended and Restated Credit Agreement, dated as of December 21, 2011, by and between Intermec, Inc. and Wells Fargo Bank, National Association is incorporated herein by reference as Exhibit 10.4, and

• a copy of the Third Amendment to Amended and Restated Credit Agreement, dated as of February 2, 2012, by and between Intermec, Inc. and Wells Fargo Bank, National Association is incorporated herein by reference as Exhibit 10.5.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 30, 2012, the Company’s Board of Directors (the “Board”) replaced Patrick J. Byrne as Chief Executive Officer and President of the Company and accepted Mr. Byrne’s resignation from the Board. Pursuant to Board appointment on April 30, 2012, Allen J. Lauer, the Company’s Chairman of the Board, will serve as the Company’s Interim Chief Executive Officer and President, while a search is conducted by the Board for a permanent Chief Executive Officer and President.

Mr. Lauer, age 74, has been a director of the Company since 2003 and served as the non-executive Chairman of the Board and the Chair of the Governance Committee since July 2007. While serving as Interim Chief Executive Officer and President, Mr. Lauer will continue as Chairman of the Board, but he will step down as a member and the Chairman of the Governance and Nominating Committee and be replaced as that committee’s Chairman by independent director Stephen P. Reynolds who will also serve as the Company’s lead independent director.

Further, Mr. Lauer is the Retired Chairman of the Board of Varian, Inc., a supplier of scientific instruments and vacuum technologies. Mr. Lauer served as the Chairman of Varian from 2002 through February 2009. He served as Chief Executive Officer of Varian from 1999 until his retirement from that position on December 31, 2003. Mr. Lauer also served as a director of Immunicon Corporation (developer of cell- and molecular-based human diagnostic and life science research products) from 2003 to 2008. Mr. Lauer holds a Bachelor of Science Degree in Electrical Engineering from Stanford University and a Master’s Degree in Business Administration from the University of California, Berkeley.

For information regarding Mr. Lauer and Mr. Reynolds, including compensatory arrangements with the Company, please review the relevant disclosures in the Company’s 2012 Proxy Statement, filed with the Securities and Exchange Commission on April 12, 2012, which are incorporated by reference herein. The Board has not taken action regarding compensatory terms relating to Mr. Lauer’s service as the Company’s Interim Chief Executive Officer and President and Mr. Reynolds’ service as the Company’s lead independent director. If actions are taken, any required disclosures will be made.

For purposes of the Company’s Senior Officer Severance Plan, as amended and effective November 8, 2010, and the Company’s other employee benefit and equity plans, Mr. Byrne’s departure is considered an involuntary termination of employment by the Company without cause.

In addition, the Board has withdrawn its nomination of Mr. Byrne as a Company director at the Company’s 2012 Annual Meeting of Stockholders to be held on May 22, 2012 and reduced the size of the Board to nine members.

Item 7.01 Regulation FD Disclosure.

Announcement of CEO and President Departure and Interim CEO and President Appointment

The news release relating to Mr. Byrne’s departure and Mr. Lauer’s appointment as the Company’s Interim Chief Executive Officer and President is attached hereto as Exhibit 99.3 and incorporated herein by reference.

Forward-Looking Statements

Statements made in this filing and any related statements that express Intermec’s or our management’s intentions, hopes, indications, beliefs, expectations, guidance, estimates, forecasts or predictions of the future constitute forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995, and relate to matters that are not historical facts. They include, without limitation, statements regarding: our management succession, our view of our financial or business prospects for the future, our view of general economic and market conditions, our sales, revenue, expense, earnings or financial outlook for the current or any other period, our cost reduction plans, our ability to develop, produce, market or sell our products, either directly or through third parties, to reduce or control expenses, to improve efficiency, to realign resources, or to continue operational improvement and year-over-year or sequential growth, the potential benefits resulting from acquired businesses, and about the applicability of accounting policies used in our financial reporting. When used in this document and in documents it refers to, the words “anticipate,” “believe,” “will,” “intend,” “project” and “expect” and similar expressions as they relate to us or our management are intended to identify such forward-looking statements. These statements represent beliefs and expectations only as of the date they were made. We may elect to update forward-looking statements but we expressly disclaim any obligation to do so, even if our beliefs and expectations change. Actual results may differ from those expressed or implied in our forward-looking statements. Such forward-looking statements involve and are subject to certain risks and uncertainties, which may cause our actual results to differ materially from those discussed in a forward-looking statement. Such risk factors also include, but are not limited to, risks and uncertainties described more fully in our reports filed or to be filed with the Securities and Exchange Commission including, but not limited to, our annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K, which are available on our website at www.intermec.com.

General

The foregoing information in this Item 7.01 is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number	Description
10.1	Fourth Amendment to Amended and Restated Credit Agreement, dated as of April 30, 2012, by and between Intermec, Inc., a Delaware corporation, and Wells Fargo Bank, National Association.
10.2	Amended and Restated Credit Agreement, dated as of January 14, 2011, by and between Intermec, Inc., a Delaware corporation, and Wells Fargo Bank, National Association (filed as Exhibit 10.2 to Intermec’s current report on Form 8-K dated January 14, 2011 and incorporated herein by reference).
10.3	First Amendment to Amended and Restated Credit Agreement, dated as of March 3, 2011, by and between Intermec, Inc., a Delaware corporation, and Wells Fargo Bank, National Association (filed as Exhibit 10.1 to Intermec’s current report on Form 8-K dated March 3, 2011 and incorporated herein by reference).
10.4	Second Amendment to Amended and Restated Credit Agreement, dated as of December 21, 2011, by and between Intermec, Inc., a Delaware corporation, and Wells Fargo Bank, National Association (filed as Exhibit 10.1 to Intermec’s current report on Form 8-K dated December 21, 2011 and incorporated herein by reference).
10.5	Third Amendment to Amended and Restated Credit Agreement, dated as of February 2, 2012, by and between Intermec, Inc., a Delaware corporation, and Wells Fargo Bank, National Association (filed as Exhibit 10.1 to Intermec’s current report on Form 8-K dated February 2, 2012 and incorporated herein by reference).
99.1	Earnings Press Release issued by Intermec, Inc. on May 1, 2012.
99.2	2011 Non-GAAP Financial Measures.
99.3	Press Release issued by Intermec, Inc. on May 1, 2012.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		Intermec, Inc.
		(Registrant)
Date: May 1, 2012	By:	/s/ Robert J. Driessnack
		Robert J. Driessnack
		Senior Vice President, Chief Financial Officer

Exhibit Index

Exhibit Number	Description
10.1	Fourth Amendment to Amended and Restated Credit Agreement, dated as of April 30, 2012, by and between Intermec, Inc., a Delaware corporation, and Wells Fargo Bank, National Association.
10.2	Amended and Restated Credit Agreement, dated as of January 14, 2011, by and between Intermec, Inc., a Delaware corporation, and Wells Fargo Bank, National Association (filed as Exhibit 10.2 to Intermec’s current report on Form 8-K dated January 14, 2011 and incorporated herein by reference).
10.3	First Amendment to Amended and Restated Credit Agreement, dated as of March 3, 2011, by and between Intermec, Inc., a Delaware corporation, and Wells Fargo Bank, National Association (filed as Exhibit 10.1 to Intermec’s current report on Form 8-K dated March 3, 2011 and incorporated herein by reference).
10.4	Second Amendment to Amended and Restated Credit Agreement, dated as of December 21, 2011, by and between Intermec, Inc., a Delaware corporation, and Wells Fargo Bank, National Association (filed as Exhibit 10.1 to Intermec’s current report on Form 8-K dated December 21, 2011 and incorporated herein by reference).
10.5	Third Amendment to Amended and Restated Credit Agreement, dated as of February 2, 2012, by and between Intermec, Inc., a Delaware corporation, and Wells Fargo Bank, National Association (filed as Exhibit 10.1 to Intermec’s current report on Form 8-K dated February 2, 2012 and incorporated herein by reference).
99.1	Earnings Press Release issued by Intermec, Inc. on May 1, 2012.
99.2	2011 Non-GAAP Financial Measures.
99.3	Press Release issued by Intermec, Inc. on May 1, 2012.

EX-10.1

Exhibit 10.1

FOURTH AMENDMENT

TO

AMENDED AND RESTATED CREDIT AGREEMENT

THIS FOURTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT is entered into effective as of March 30, 2012 by and between INTERMEC, INC., a Delaware corporation (“Borrower”), and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Bank”).

RECITALS

Borrower and Bank are parties to that certain Amended and Restated Credit Agreement dated January 14, 2011 (as amended, the “Credit Agreement”). Borrower and Bank desire to amend the Credit Agreement in the manner set forth below. All capitalized terms used herein and not otherwise defined herein shall have the meaning attributed to them in the Credit Agreement.

NOW, THEREFORE, in consideration of the mutual covenants and promises of the parties contained herein, Borrower and Bank hereby agree as follows:

1. Section 4.9. Section 4.9 of the Credit Agreement is amended in its entirety to read as follows:

Section 4.9. FINANCIAL CONDITION. Maintain Borrower’s consolidated financial condition as follows using GAAP, consistently applied, and used consistently with prior practices (except to the extent modified by the definitions herein):

(a) Borrower’s Adjusted EBITDA not less than $25,000,000 as of the end of Borrower’s second fiscal quarter of 2012, not less than $35,000,000 as of the end of Borrower’s third fiscal quarter of 2012 and not less than $45,000,000 as of the end of each subsequent fiscal quarter of Borrower. “Borrower’s Adjusted EBITDA” means, as of the end of a fiscal quarter of Borrower, Borrower’s net income before tax for the four fiscal quarters ending with such fiscal quarter plus interest expense (net of capitalized interest expense), depreciation expense and amortization expense for such period, plus any of the following for such period to the extent decreasing net income: (i) any non-cash compensation expense recorded from grants of stock appreciation, stock options, restricted stock or other similar rights to officers, directors and other employees, (ii) any non-cash item or deduction recorded in accordance with any change in GAAP during or effective as of such period, (iii) any other non-cash item (other than any non cash charges to the extent such charges represent an accrual of or reserve for cash expenditures in any future period) and (iv) with respect to the portion of such period ending before April 2, 2012, extraordinary, non-recurring or one time expenses, losses or charges not to exceed $10,000,000 for such portion of such period, plus Historical EBITDA for such portion of such period, plus Target Acquisition Costs for such portion of such period.

FOURTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT PAGE 1

(b) [Intentionally Deleted]

(c) [Intentionally Deleted]

(d) Asset Coverage Ratio not less than 1.00:1.00 as of the end of each fiscal quarter beginning with the last quarter of 2011. “Asset Coverage Ratio” means the ratio of (A) the total of the following as of the end of such fiscal quarter: (i) 80% of total net accounts receivable (domestic and foreign), (ii) 55% of domestic finished goods inventory and (iii) 30% of domestic parts and service inventory to (B) the total outstanding principal balance of the Line of Credit plus the undrawn face amount of all Letters of Credit.

(e) Borrower’s Total Funded Debt to EBITDA not in excess of 2.50 for each fiscal quarter, beginning with the last fiscal quarter of 2011.

2. New Section 5.9. A new Section 5.9 is added to the Credit Agreement to read as follows:

Section 5.9. PERMITTED ACQUISITIONS. Except for Permitted Acquisitions, acquire all or substantially all of the assets of, or more than fifty percent (50%) of the voting Equity Interests of, or a business line or a division of, any Person. “Permitted Acquisition” means any acquisition, whether by purchase, merger or otherwise, of all or substantially all of the assets of, or more than fifty percent (50%) of the voting Equity Interests of, or a business line or a division of, any Person; provided that:

(i) all Persons, assets, business lines or divisions acquired shall be in the type of business engaged in by the Borrower and its Subsidiaries as of March 30, 2012, or complimentary to such type of business, in each case as determined in good faith by Borrower’s board of directors;

(ii) no Event of Default shall then exist or would exist after giving effect to such acquisition;

(iii) as of the closing of any acquisition, such acquisition shall have been approved by the board of directors or equivalent governing body of the Person to be acquired or from which such assets, business line or division is to be acquired;

(iv) the Borrower shall have delivered to Bank a certificate demonstrating to the Bank’s reasonable satisfaction that, upon giving effect to such acquisition and taking into account payment of all transaction expenses in connection therewith, the Borrower, on a pro forma basis, would be in compliance with the financial covenants set forth in Section 4.9;

FOURTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT PAGE 2

(v) if such acquisition is structured as a merger, the Borrower (or if such merger is with any Subsidiary, then a Subsidiary) shall be the surviving Person after giving effect to such merger and;

(vi) the total cash consideration (including assumed liabilities, earnout payments and any other deferred payment) paid for all of the Persons, assets, business lines or divisions acquired in the aggregate after April 1, 2012 shall not exceed $30,000,000.

3. Ratification. Except as otherwise provided in this Fourth Amendment, all of the provisions of the Credit Agreement are hereby ratified and confirmed and shall remain in full force and effect.

4. One Agreement. The Credit Agreement, as modified by the provisions of this Fourth Amendment, shall be construed as one agreement.

5. Effective Date. This Fourth Amendment shall be effective as of March 30, 2012 upon execution and delivery by the parties of this amendment and the attached Guarantors’ Acknowledgement, Consent and Reaffirmation.

6. Counterparts. This Fourth Amendment may be executed in any number of counterparts, each of which when executed and delivered shall be deemed to be an original, and all of which when taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page of this Fourth Amendment by fax or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Fourth Amendment.

[Signature page follows]

FOURTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT PAGE 3

IN WITNESS WHEREOF, this Fourth Amendment to Amended and Restated Credit Agreement has been duly executed.

INTERMEC, INC.
By:	/s/ Frank S. McCallick
	Frank S. McCallick,
	Vice President, Tax and Treasurer
WELLS FARGO BANK, NATIONAL ASSOCIATION
By:	/s/ John Cantalupo
	John Cantalupo,
	Senior Vice President

GUARANTORS’ SIGNATURE PAGE TO FOURTH AMENDMENT TO

AMENDED AND RESTATED CREDIT AGREEMENT ACKNOWLEDGMENT

EX-99.1

Exhibit 99.1

Intermec, Inc.

6001 36^th Avenue West

Everett, WA 98203-1264

www.intermec.com

FOR IMMEDIATE RELEASE

INTERMEC REPORTS PRELIMINARY FIRST QUARTER 2012 RESULTS

• Q1 Revenue increased year over year to $179.7 million

• Preliminary GAAP EPS ($0.27) per fully diluted share; Non-GAAP EPS of ($0.21)

• Adjusted EBITDA of ($6.9) million

• Final results subject to impairment analysis and deferred tax asset balances

EVERETT, Wash. – May 1, 2012 – Intermec, Inc. (NYSE: IN) today announced preliminary financial results for its first quarter ended April 1, 2012.

First quarter 2012 revenues were $179.7 million, with preliminary net (loss) on a GAAP basis of ($16.4) million or ($0.27) per diluted share. That compares to 2011 first quarter revenues of $178.5 million and net loss on a GAAP basis of ($6.1) million or ($0.10) per diluted share. Excluding acquisition-related costs and other adjustments totaling $3.7 million (detailed below), the Adjusted Non-GAAP operating loss for the quarter was ($12.7) million or ($0.21) per diluted share, as compared with Non-GAAP operating loss of ($0.1) million or ($0.01) per diluted share, for the 2011 quarter.

The following table presents the Company’s preliminary GAAP operating income (loss), net earnings (loss) and earnings (loss) per share reported for the first quarters of 2012 and 2011, and as adjusted excluding the impact of restructuring costs, acquisition-related costs and acquisition-related accounting adjustments:

PRELIMINARY

INTERMEC, INC.

RECONCILIATION OF GAAP TO NON-GAAP OPERATING INCOME,

NET EARNINGS AND EARNINGS PER SHARE

(In millions, except per share amounts)

(Unaudited)

	Quarter Ended April 1, 2012									Quarter Ended April 3, 2011
	Operating Income (loss)			Net earnings (loss)			Earnings (loss) per share			Operating Income (loss)			Net earnings (loss)			Earnings (loss) per share
Loss as reported	$	(18.6	)	$	(16.4	)	$	(0.27	)	$	(8.6	)	$	(6.1	)	$	(0.10	)
Acquisition related adjustments		4.8			3.0			0.05			7.8			5.7			0.09
Income taxes - increase in valuation allowance		—			0.7			0.01			—			0.3			—
Non-GAAP loss as adjusted	$	(13.8	)	$	(12.7	)	$	(0.21	)	$	(0.8	)	$	(0.1	)	$	(0.01	)

1

The acquisition-related adjustments reflect amortization of acquisition intangibles of $4.8 million related to acquisitions closed in March 2011. Adjusted operating income for the first quarter of 2012 was ($13.8) million and adjusted net loss was ($0.21) per share as described in the Non-GAAP Financial Measures section of this release.

In conjunction with its financial analysis and reporting procedures and based on its current market capitalization, the Company is evaluating its goodwill and long-lived assets including its intangible assets for impairment and its deferred tax assets for a valuation allowance for the first quarter of 2012. The final loss per share reported for the quarter could be greater than the preliminary results reported in this press release if either or both of these items require adjustment as a result of this analysis. Any such adjustments would be non-cash charges and are not expected to result in any change to our Non-GAAP results.

First Quarter 2012 Operating Performance

• Total revenue of $179.7 million increased 1% from the prior-year quarter and includes the benefit of approximately $20.7 million from acquired businesses, including Vocollect. Excluding the acquisitions, revenue decreased 12%. Total revenue growth includes the decline of 1.6 percentage points from currency translation.

• Geographically, compared to the prior-year quarter and including the benefit of Voice solutions, revenues in North America increased approximately 17%. Europe, Middle East and Africa (EMEA) revenues decreased by 17%. Latin America was flat and Asia Pacific revenue declined 6% versus strong first quarters in 2011. On a constant currency basis EMEA revenues decreased 14%.

• Compared to the prior year quarter Intermec-branded Systems and solutions revenue declined 10% while Printer and media revenue decreased 18%. Intermec-branded services revenue was flat compared to Q1 2011. Voice solutions revenues of $27.4 million include two months of revenue in Q1 2012 that was not included in Q1 2011 prior to the close of the acquisition on March 3, 2011.

• Total gross margin as reported for the first quarter was 36.7%. Excluding the impact of $3.6 million of intangible amortization, the Company’s non-GAAP adjusted gross margin was 38.7%.

• Product gross margin as reported was 33.1%, compared to 38.1% in the first quarter of 2011. Excluding the acquisition-related adjustment of $3.6 million, the Company’s non-GAAP adjusted product gross margin was 35.7% compared to 39.7% in the first quarter 2011. Service gross margin as reported was 48.1%, compared to 39.0% in first quarter 2011.

• Total operating expenses for the quarter were $86 million. That compares to prior-year operating expenses of $76.8 million which included only one month of acquired companies’ expenses of $6.4 million and $4.8 million of acquisition related expense. On a comparable basis, core Intermec operating expenses were $65.7 million in the 2012 quarter, versus $65.6 million in the 2011 quarter.

• The Company used $12 million in operating cash flow during the quarter. Cash, cash equivalents, and short-term investments totaled approximately $85 million at quarter-end. The outstanding balance of the Company’s credit facility at the end of the quarter was $85 million, unchanged from the prior quarter end, with $63.5 million available under the credit agreement.

2

First Quarter Business Highlights

• Intermec launched two new Vehicle Mount computers the CV-41 and CV-61 designed to integrate with any forklift. Both units will offer Vocollect integrated voice-directed workflow to increase accuracy and productivity.

• The Company also introduced the SG20 family of handheld scanners featuring the industry’s fastest 2D imaging technology for highly responsive omnidirectional scanning. Designed to speed up the bar code scanning process in retail, healthcare and general countertop scanning applications, the SG20 scanner minimizes the time and effort required to read a bar code by providing more than 50 times the motion tolerance of competitive scanners.

• The Company debuted three new printers. The PC23d is an intuitive, flexible and smart desktop printer designed to set a new standard for user-friendly, efficient printing operations in healthcare. The PC43d and PC43t desktop printers provide intuitive, flexible and smart solutions for light duty labeling applications in transportation, courier, hospitality, manufacturing, warehouse and office environments.

• Intermec received the prestigious 5-star rating in CRN’s 2012 Partner Programs Guide. The 2012 CRN Partner Programs Guide and CRN 5-Star Rating is the definitive listing of manufacturers and software publishers that service solution providers and/or provide products to the IT Channel.

• Vocollect announced that its industry-leading VoiceCatalyst software now supports a variety of leading personal computers (PCs) to enable voice-directed support for multiple workflows in distribution operations.

• Vocollect also launched Vocollect VoiceExpress, a new host interface solution that provides distribution center (DC) and warehouse operators the benefits of voice across almost any distribution workflow quickly, by eliminating or reducing common customer adoption barriers of voice solutions without host changes or significant IT resources.

Outlook – 2012

• Following the departure of its CEO Patrick J. Byrne, the Company will not be providing financial guidance at this time.

3

Conference Call Information

Intermec will hold its conference call on Tuesday May 1, 2012 at 5:00 p.m., Eastern Time (2:00 p.m. Pacific Time):

Conference Call:

Tuesday May 1, 2012 at 5:00 p.m., Eastern Time (2:00 p.m. Pacific Time)

Dial-in Numbers:

1-877-941-8609

1-480-629-9692

Passcode: INTERMEC

30-Day Replay:

1-800-406-7325

1-303-590-3030

Passcode: 4533430

Audio Webcast:

Intermec will provide a live audio Webcast of its first quarter 2012 earnings conference call beginning Tuesday, May 1, 2012 at 5:00 p.m., Eastern, (2:00 p.m. Pacific). A Webcast archive will be available for one month.

The webcast will be available at: www.intermec.com/InvestorRelations

Contact:

Dan Evans

Investor Relations

425-267-2975

dan.evans@intermec.com

About Intermec, Inc.

Intermec Inc. (NYSE:IN) develops and integrates products, services and technologies that identify, track and manage supply chain assets and information. Core technologies include rugged mobile computing and data collection systems, voice solutions that increase business performance, bar code printers, label media, and RFID. The company’s products and services are used by customers in many industries worldwide to improve the productivity, quality and responsiveness of business operations. For more information about Intermec, visit www.intermec.com or call 800-347-2636.

4

Non-GAAP Financial Measures

This press release includes Non-GAAP financial measures for operating income (loss), net earnings (loss), and earnings (loss) per diluted share, EBITDA, Adjusted EBITDA and gross margins. Reconciliations of each of these Non-GAAP financial measures to the most directly comparable GAAP financial measures are detailed in the Reconciliation of GAAP to Non-GAAP operating (loss) and adjusted EBITDA and Reconciliation of GAAP to Non-GAAP Gross Margins.

Our Non-GAAP measures should be read in conjunction with the corresponding GAAP measures. The Non-GAAP measures should be considered in addition to and not as an alternative or substitute for the measures prepared in accordance with generally accepted accounting principles.

We believe that excluding items such as, but not limited to, restructuring charges (principally related to severance costs in connection with distinct organizational initiatives to reduce costs and improve operational efficiency), costs related to completion of acquisitions and certain opening balance sheet accounting adjustments, amortization of intangibles and non-cash stock based compensation expenses provides supplemental information useful to investors’ and management’s understanding of Intermec’s core operating results, especially when comparing those results on a consistent basis to results for previous periods and anticipated results for future periods.

Forward Looking Statements

Statements made in this release and related statements that express Intermec’s or our management’s intentions, hopes, indications, beliefs, expectations, guidance, estimates, forecasts or predictions of the future constitute forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995, and relate to matters that are not historical facts. The forward-looking statements contained herein include, without limitation, statements regarding: our view of general economic and market conditions, our revenue, expense, earnings or financial outlook for the current period or any other period, our cost reduction plans, our ability to develop, produce, market or sell our products, either directly or through third parties, to reduce or control expenses, to improve efficiency, to realign resources, or to continue operational improvement and year-over-year or sequential growth, and the applicability of accounting policies used in our financial reporting. They also include, without limitation, statements about future financial and operating results of our company after the acquisition of other businesses and the benefits of such acquisitions. When used in this document and in documents it refers to, the words “anticipate,” “believe,” “will,” “intend,” “project” and “expect” and similar expressions as they relate to us or our management are intended to identify such forward-looking statements. These statements represent beliefs and expectations only as of the date they were made. We may elect to update forward-looking statements, but we expressly disclaim any obligation to do so, even if our beliefs and expectations change.

Actual results may differ from those expressed or implied in our forward-looking statements. Such forward-looking statements involve and are subject to certain risks and uncertainties, which may cause our actual results to differ materially from those discussed in a forward-looking statement. These risk factors include, but are not limited to, risks and uncertainties described more fully in our reports filed or to be filed with the Securities and Exchange Commission including, but not limited to, our annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K, which are available on our website at www.intermec.com.

5

PRELIMINARY

INTERMEC, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(Unaudited)

	Three Months Ended
	April 1, 2012			April 3, 2011
Revenues:
Product	$	136,471		$	141,736
Service		43,207			36,782
Total revenues		179,678			178,518
Costs and expenses:
Cost of product revenues		91,339			87,797
Cost of service revenues		22,414			22,427
Research and development		20,009			17,815
Selling, general and administrative		66,007			54,242
Acquisition costs		—			4,839
Gain on intellectual property sales		(1,400	)		—
Total costs and expenses		198,369			187,120
Operating loss		(18,691	)		(8,602	)
Interest income		121			98
Interest expense		(750	)		(511	)
Loss before income taxes		(19,320	)		(9,015	)
Income tax benefit		(2,898	)		(2,938	)
Net loss	$	(16,422	)	$	(6,077	)
Basic loss per share	$	(0.27	)	$	(0.10	)
Diluted loss per share	$	(0.27	)	$	(0.10	)
Shares used in computing basic loss per share		60,030			60,367
Shares used in computing diluted loss per share		60,030			60,367

6

PRELIMINARY

INTERMEC, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands)

	April 1, 2012			December 31, 2011
ASSETS
Current assets:
Cash and cash equivalents	$	85,321		$	95,108
Short-term investments		203			170
Accounts receivable, net		112,837			139,737
Inventories		107,745			103,622
Current deferred tax assets, net		79,384			84,541
Other current assets		25,456			24,226
Total current assets		410,946			447,404
Deferred tax assets, net		153,560			141,064
Goodwill		143,510			143,510
Intangibles, net		57,303			61,996
Property, plant and equipment, net		44,821			47,086
Other assets, net		27,786			28,230
Total assets	$	837,926		$	869,290
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	75,818		$	92,607
Payroll and related expenses		23,872			32,540
Deferred revenue		54,598			47,234
Accrued expenses		30,119			35,118
Total current liabilities		184,407			207,499
Long-term debt		85,000			85,000
Pension and other postretirement benefits liabilities		125,901			124,058
Long-term deferred revenue		28,567			28,960
Other long-term liabilities		16,298			15,344
Commitments and contingencies
Shareholders’ equity:
Common stock (250,000 shares authorized, 63,096 and 62,956 shares issued and 59,847 and 59,717 outstanding)		636			636
Additional paid-in capital		700,833			697,597
Accumulated deficit		(226,749	)		(210,327	)
Accumulated other comprehensive loss		(76,967	)		(79,477	)
Total shareholders’ equity		397,753			408,429
Total liabilities and shareholders’ equity	$	837,926		$	869,290

7

PRELIMINARY

INTERMEC, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

	Three Months Ended
	April 1,			April 3,
	2012			2011
Cash and cash equivalents at beginning of the period	$	95,108		$	221,467
Cash flows from operating activities:
Net loss		(16,422	)		(6,077	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization		8,808			4,907
Deferred taxes		(4,791	)		(4,383	)
Stock-based compensation		2,641			2,328
Gain on intellectual property sales		(1,400	)		—
Change in pension and other postretirement plans, net		(304	)		(159	)
Changes in operating assets and liabilities:
Accounts receivable		29,899			13,152
Inventories		(3,916	)		2,357
Accounts payable		(17,113	)		(2,128	)
Accrued expenses		(4,943	)		(14,454	)
Payroll and related expenses		(8,964	)		4,409
Deferred revenue		6,099			6,705
Other operating activities		(1,613	)		(4,310	)
Net cash provided by (used in) operating activities		(12,019	)		2,347
Cash flows from investing activities:
Acquisitions, net of cash acquired		—			(199,018	)
Additions to property, plant and equipment		(1,792	)		(4,115	)
Proceeds from intellectual property sales		1,650			—
Other investing activities		(11	)		(371	)
Net cash used in investing activities		(153	)		(203,504	)
Cash flows from financing activities:
Proceeds from issuance of debt		—			97,000
Stock repurchase		—			(4,535	)
Stock options exercised and other		674			524
Net cash provided by financing activities		674			92,989
Effect of exchange rate changes on cash and cash equivalents		1,711			3,818
Net change in cash and cash equivalents		(9,787	)		(104,350	)
Cash and cash equivalents at end of the period	$	85,321		$	117,117

8

PRELIMINARY

INTERMEC, INC.

RECONCILIATION OF GAAP TO NON-GAAP OPERATING INCOME (LOSS) AND ADJUSTED EBITDA

(In thousands, except per share amounts)

(Unaudited)

	Three Months Ended April 1, 2012															Three Months Ended April 3, 2011
	GAAP Operating Results			Non-GAAP Adjustments			Non-GAAP Operating Results			EBITDA Adjustments			Adjusted EBITDA			GAAP Operating Results			Non-GAAP Adjustments			Non-GAAP Operating Results			EBITDA Adjustments			Adjusted EBITDA
Total revenues	$	179,678		$	—		$	179,678		$	—		$	179,678		$	178,518		$	726		$	179,244		$	—		$	179,244
Costs and expenses:
Cost of revenues		113,753			(3,648	)		110,105			(1,774	)		108,331			110,224			(2,265	)		107,959			(1,858	)		106,101
Research and development		20,009			—			20,009			(297	)		19,712			17,815			—			17,815			(277	)		17,538
Selling, general and administrative		66,007			(1,201	)		64,806			(4,882	)		59,924			54,242			—			54,242			(3,998	)		50,244
Acquisition costs		—			—			—			—			—			4,839			(4,839	)		—			—			—
Gain on intellectual property sales		(1,400	)		—			(1,400	)		—			(1,400	)		—			—			—			—			—
Total costs and expenses		198,369			(4,849	)		193,520			(6,953	)		186,567			187,120			(7,104	)		180,016			(6,133	)		173,883
Operating income (loss)	$	(18,691	)	$	4,849		$	(13,842	)	$	6,953		$	(6,889	)	$	(8,602	)	$	7,830		$	(772	)	$	6,133		$	5,361

9

PRELIMINARY

INTERMEC, INC.

RECONCILIATION OF GAAP TO NON-GAAP GROSS MARGINS

(In thousands, except per share amounts)

(Unaudited)

	Three Months Ended April 1, 2012									Three Months Ended April 3, 2011
	As Reported			Non-GAAP Adjustments			Non-GAAP as Adjusted			As Reported			Non-GAAP Adjustments			Non-GAAP as Adjusted
Revenues:
Product	$	136,471		$	—		$	136,471		$	141,736		$	—		$	141,736
Service		43,207			—			43,207			36,782			726	b		37,508
Total revenues	$	179,678		$	—		$	179,678		$	178,518		$	726		$	179,244
Cost of revenues:
Product	$	91,339		$	(3,648	) a	$	87,691		$	87,797		$	(2,265	) c	$	85,532
Service		22,414			—			22,414			22,427						22,427
Total cost of revenues	$	113,753		$	(3,648	)	$	110,105		$	110,224		$	(2,265	)	$	107,959
Gross margins:
Product		33.1	%					35.7	%		38.1	%					39.7	%
Service		48.1	%					48.1	%		39.0	%					40.2	%
Total		36.7	%					38.7	%		38.3	%					39.8	%

a - Acquisition related intangible amortization

b - Acquisition fair value of service revenue

c - $1,102 of acquisition related intangible amortization, $1,163 of acquisition fair value of inventory

10

PRELIMINARY

INTERMEC, INC.

SUPPLEMENTAL INFORMATION: EBITDA AND ADJUSTED EBITDA CALCULATION

(In thousands, except per share amounts)

	Three Months Ended
	April 1, 2012			April 3, 2011
Operating loss, as reported	$	(18,691	)	$	(8,602	)
Acquisition adjustments
Acquisition fair-value adjustments		—			1,889
Intangible amortization		4,496			1,102
Acquisition costs		—			4,839
Other		353			—
Total adjustments		4,849			7,830
Non-GAAP operating loss	$	(13,842	)	$	(772	)
Adjusted EBITDA calculation
Add: depreciation and amortization (excluding acquisition related)	$	4,312		$	3,805
Add: stock-based compensation		2,641			2,328
Adjusted EBITDA	$	(6,889	)	$	5,361

Intermec is providing disclosure of the reconciliation of certain Non-US GAAP financial measures used in our financial reporting and within our press release, among other places, to our comparable financial measures on a US GAAP basis. The Company believes that these Non-US GAAP financial measures provide investors the additional information to evaluate financial performance in a way that is comparable to measures reported by other technology companies.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) is net income/loss before provisions for income taxes, net interest expense, and depreciation and amortization. EBITDA should not be considered an alternative to, or more meaningful than, income before income taxes, cash flow from operations, or other traditional indicators of operating performance. Rather, EBITDA is presented because it is a widely accepted supplemental financial measure that we believe provides relevant and useful information. Our calculation of adjusted EBITDA adds back the non-cash effect of stock-based compensation as accounted for under ACS 718 as we believe this is a meaningful view of our true cash earnings. Adjusted EBITDA may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate this non-US GAAP measure in the same manner.

11

PRELIMINARY

INTERMEC, INC.

SUPPLEMENTAL SALES INFORMATION BY CATEGORY

(Amounts in millions)

(Unaudited)

	Three Months Ended
	April 1, 2012		Percent of Revenues			April 3, 2011		Percent of Revenues			Percent Change in Revenues
Revenues by category:
Intermec-branded:
Systems and solutions	$	81.8		45.5	%	$	90.4		50.6	%		-9.5	%
Printer and media		35.5		19.8	%		43.4		24.3	%		-18.2	%
Service		35.0		19.5	%		34.9		19.6	%		0.3	%
Voice solutions		27.4		15.2	%		9.8		5.5	%		179.6	%
Total revenues	$	179.7		100.0	%	$	178.5		100.0	%		0.7	%

SUPPLEMENTAL SALES INFORMATION BY GEOGRAPHICAL REGION

(Amounts in millions)

(Unaudited)

	Three Months Ended
	April 1, 2012		Percent of Revenues			April 3, 2011		Percent of Revenues			Percent Change in Revenues
Revenues by geographic region:
North America	$	91.7		51.0	%	$	78.4		43.9	%		17.0	%
Europe, Middle East and Africa (EMEA)		54.6		30.4	%		65.9		36.9	%		-17.1	%
Latin America		19.9		11.1	%		19.9		11.2	%		0.0	%
Asia Pacific		13.5		7.5	%		14.3		8.0	%		-5.6	%
Total revenues	$	179.7		100.0	%	$	178.5		100.0	%		0.7	%

12

EX-99.2

Exhibit 99.2

INTERMEC, INC.

RECONCILIATION OF GAAP TO NON-GAAP OPERATING INCOME,

NET EARNINGS AND EARNINGS PER SHARE

(In millions, except per share amounts)

(Unaudited)

	Quarter Ended April 3, 2011
	Operating income (loss) (a)			Net earnings (loss)			Earnings(loss) per share
Profit (loss) as reported	$	(8.6	)	$	(6.1	)	$	(0.10	)
Acquisition related adjustments		7.8			5.7			0.09
Income taxes - increase in valuation allowance		—			0.3	(b)		—
Non-GAAP profit (loss) as adjusted	$	(0.8	)	$	(0.1	)	$	(0.01	)
	Quarter Ended July 3, 2011
	Operating income (loss) (a)			Net earnings (loss)			Earnings(loss) per share
Profit (loss) as reported	$	(3.1	)	$	(3.8	)	$	(0.06	)
Acquisition related adjustments		6.7			4.1			0.07
Restructuring charges		5.1			5.1			0.08
Income taxes - increase in valuation allowance		—			0.5	(b)		0.01	(b)
Non-GAAP profit (loss) as adjusted	$	8.7		$	5.9		$	0.10
	Quarter Ended October 2, 2011
	Operating income (loss)			Net earnings (loss)			Earnings(loss) per share
Profit (loss) as reported	$	1.0		$	0.7		$	0.01
Acquisition related adjustments		7.1	(c)		4.4	(c)		0.07	(c)
Restructuring charges		0.6			0.6			0.01
Income taxes - increase in valuation allowance		—			0.3	(b)		0.01	(b)
Non-GAAP profit (loss) as adjusted	$	8.7		$	6.0		$	0.10
	Quarter Ended December 31, 2011
	Operating income (loss)			Net earnings (loss)			Earnings(loss) per share
Profit (loss) as reported	$	4.4		$	(21.6	)	$	(0.36	)
Acquisition related adjustments		5.8			3.6			0.06
Capitalized legal fees charge		5.6			3.4			0.06
Restructuring charges		0.1			0.1			—
Impairment of property, plant and equipment		0.9			0.6			0.01
Income taxes - increase in valuation allowance		—			21.4			0.36
Non-GAAP profit (loss) as adjusted	$	16.8		$	7.5		$	0.13
	Twelve Months Ended December 31, 2011
	Operating income (loss)			Net earnings (loss)			Earnings(loss) per share
Profit (loss) as reported	$	(6.2	)	$	(30.8	)	$	(0.51	)
Acquisition related adjustments		27.4	(d)		17.8	(d)		0.29	(d)
Capitalized legal fees charge		5.6			3.4			0.06
Restructuring charges		5.8			5.8			0.1
Impairment of property, plant and equipment		0.9			0.6			0.01
Income taxes - increase in valuation allowance		—			22.5			0.38
Non-GAAP profit (loss) as adjusted	$	33.5		$	19.3		$	0.32

(a) This table for the first and second quarters of 2011 has been modified to conform with the presentation made in the Company's earnings release for the third and fourth quarters of 2011. Specifically, the reconciliation in the Operating income (loss) column reconciles operating profit (loss) to non-GAAP operating profit (loss), rather than from loss before income taxes to non-GAAP profit (loss), which was presented in the first two quarters of 2011.

(b) Non-GAAP adjustments for income taxes were not included in the reconciliations accompanying the Company’s earnings releases for the first three quarters of 2011, because they were not considered to be material at the time. However, due to a material valuation adjustment in the fourth quarter of 2011, the adjustments in the first three quarters when added to the fourth quarter adjustment are now considered to be material, and accordingly have been included in the reconciliation for those periods.

(c) The Acquisition related adjustment for the third quarter of 2011 increased operating income by $0.3 million and increased net earnings by $0.2 million over the amounts reported in the reconciliation presented in the third quarter earnings release, because certain intangible amortization had been excluded from the original presentation. The effect of this adjustment on earnings (loss) per share was immaterial.

(d) The Acquisition related adjustments included in the earnings release for the year ended December 31, 2011, were $25.8 million for Operating income (loss), $16.3 million for Net earnings (loss), and $0.27 for Earnings (loss) per share. Due to a footing error in the original calculation of these amounts for the 12-month period and the adjustment described above, Acquisition related adjustments for the 12-month period have been increased to $27.4 million for Operating income (loss), $17.8 million for Net earnings (loss), and $0.29 for Earnings (loss) per share.

1

INTERMEC, INC.

RECONCILIATION OF GAAP TO NON-GAAP NET EARNINGS

(In thousands)

(Unaudited)

	Three Months Ended April 3, 2011 (a)
	GAAP Operating Results			Non-GAAP Adjustments			Non-GAAP Operating Results			EBITDA Adjustments			Adjusted EBITDA
Total revenues	$	178,518		$	726		$	179,244		$	—		$	179,244
Costs and expenses:
Cost of revenues		110,224			(2,265	)		107,959			(1,858	)		106,101
Research and development		17,815			—			17,815			(277	)		17,538
Selling, general and administrative		54,242			—			54,242			(3,998	)		50,244
Acquisition costs		4,839			(4,839	)		—			—			—
Total costs and expenses		187,120			(7,104	)		180,016			(6,133	)		173,883
Operating (loss) income	$	(8,602	)	$	7,830		$	(772	)	$	6,133		$	5,361
	Three Months Ended July 3, 2011
	GAAP Operating Results			Non-GAAP Adjustments			Non-GAAP Operating Results			EBITDA Adjustments			Adjusted EBITDA
Total revenues	$	221,082		$	2,178		$	223,260		$	—		$	223,260
Costs and expenses:
Cost of revenues		129,766			(3,105	)		126,661			(2,217	)		124,444
Research and development		22,858			(17	)		22,841			(369	)		22,472
Selling, general and administrative		66,052			(981	)		65,071			(4,002	)		61,069
Acquisition costs		373			(373	)		—						—
Restructuring charges		5,111			(5,111	)		—						—
Total costs and expenses		224,160			(9,587	)		214,573			(6,588	)		207,985
Operating (loss) income	$	(3,078	)	$	11,765		$	8,687		$	6,588		$	15,275
	Three Months Ended October 2, 2011
	GAAP Operating Results			Non-GAAP Adjustments			Non-GAAP Operating Results			EBITDA Adjustments			Adjusted EBITDA
Total revenues	$	211,805		$	2,178		$	213,983		$	—		$	213,983
Costs and expenses:
Cost of revenues		123,950			(3,170	)		120,780			(2,173	) (b)		118,607
Research and development		22,047			(18	)		22,029			(413	) (b)		21,616
Selling, general and administrative		63,610			(1,178	) (d)		62,432			(5,668	) (b)		56,764
Acquisition costs		554			(554	)		—			—			—
Restructuring charges		644			(644	)		—			—			—
Total costs and expenses		210,805			(5,564	)		205,241			(8,254	)		196,987
Operating income	$	1,000		$	7,742		$	8,742		$	8,254		$	16,996

2

	Three Months Ended December 31, 2011
	GAAP Operating Results			Non-GAAP Adjustments			Non-GAAP Operating Results		EBITDA Adjustments			Adjusted EBITDA
Total revenues	$	236,776		$	1,744		$	238,519	$	—		$	238,519
Costs and expenses:
Cost of revenues		137,504			(2,882	)		134,622		(1,406	) (c)		133,216
Research and development		21,664			(18	)		21,646		(353	) (c)		21,293
Selling, general and administrative		66,391			(987	)		65,404		(6,016	) (c)		59,388
Acquisition costs		208			(208	)		—		—			—
Capitalized legal fees charge		5,573			(5,573	)		—		—			—
Restructuring charges		99			(99	)		—		—			—
Impairment of Property, plant and equipment		900			(900	)		—		—			—
Total costs and expenses		232,339			(10,667	)		221,672		(7,775	)		213,897
Operating income	$	4,437		$	12,411		$	16,847	$	7,775		$	24,622
	Twelve Months Ended December 31, 2011
	GAAP Operating Results			Non-GAAP Adjustments			Non-GAAP Operating Results		EBITDA Adjustments			Adjusted EBITDA
Total revenues	$	848,181		$	6,826		$	855,007	$	—		$	855,008
Costs and expenses:
Cost of revenues		501,445			(11,422	)		490,023		(7,654	)		482,369
Research and development		84,384			(53	)		84,331		(1,412	)		82,919
Selling, general and administrative		250,296			(3,146	)		247,150		(19,684	)		227,466
Acquisition costs		5,974			(5,974	)		—		—			—
Capitalized legal fees charge		5,573			(5,573	)		—		—			—
Restructuring charges		5,854			(5,854	)		—		—			—
Impairment of property, plant and equipment		900			(900	)		—		—			—
Total costs and expenses		854,426			(32,922	)		821,504		(28,750	)		792,754
Operating income (loss)	$	(6,245	)	$	39,748		$	33,503	$	28,750		$	62,254

(a) This table was not included with the reconciliation accompanying the earnings release for the first quarter of 2011. It has been included to be consistent with the inclusion of this reconciliation in subsequent filings and because it is included in the reconciliations accompanying the earnings release for the first quarter of 2012.

(b) Due to a calculation error in the reconciliation accompanying the third quarter 2011 earnings release, total amortization expense for the period increased to $5.1 million from the $4.7 million included in the original reconciliation. Portions of the $0.4 million adjustment were allocated to each of the line items listed.

(c) Stock compensation expense was increased to $3.7 million from the $3.6 million used in the reconciliation for the fourth quarter of 2011 accompanying the 2011 year-end earnings release. Portions of the $0.1 million adjustment were allocated to Selling, general and administrative.

(d) Total acquisition related amortization expense for the third quarter increased to $3.7 million from the $3.4 million reported in the reconciliation accompanying the third quarter 2011 press release due to the exclusion of amortization of certain intangibles from the calculation. The entire $0.3 million increase was allocated to the adjustment for Selling, general and administrative expense for the period.

3

INTERMEC, INC.

RECONCILIATION OF GAAP TO NON-GAAP GROSS MARGINS

(In thousands)

(Unaudited)

	Three Months Ended April 3, 2011
	As Reported			Non-GAAP Adjustments			Non-GAAP as Adjusted
Revenues:
Product	$	141,736		$	—		$	141,736
Service		36,782			726			37,508
Total revenues	$	178,518		$	726		$	179,244
Cost of revenues:
Product	$	87,797		$	(2,265	)	$	85,532
Service		22,427			—			22,427
Total cost of revenues	$	110,224		$	(2,265	)	$	107,959
Gross margins:
Product		38.1	%					39.7	%
Service		39.0	%					40.2	%
Total		38.3	%					39.8	%
	Three Months Ended July 3, 2011
	As Reported			Non-GAAP Adjustments			Non-GAAP as Adjusted
Revenues:
Product	$	177,751		$	—		$	177,751
Service		43,331			2,178			45,509
Total revenues	$	221,082		$	2,178		$	223,260
Cost of revenues:
Product	$	106,441		$	(3,105	)	$	103,336
Service		23,325			—			23,325
Total cost of revenues	$	129,766		$	(3,105	)	$	126,661
Gross margins:
Product		40.1	%					41.9	%
Service		46.2	%					48.7	%
Total		41.3	%					43.3	%

4

	Three Months Ended October 2, 2011
	As Reported			Non-GAAP Adjustments			Non-GAAP as Adjusted
Revenues:
Product	$	165,294		$	—		$	165,294
Service		46,511			2,178			48,689
Total revenues	$	211,805		$	2,178		$	213,983
Cost of revenues:
Product	$	97,587		$	(3,170	)	$	94,417
Service		26,363			—			26,363
Total cost of revenues	$	123,950		$	(3,170	)	$	120,780
Gross margins:
Product		41.0	%					42.9	%
Service		43.3	%					45.9	%
Total		41.5	%					43.6	%
	Three Months Ended December 31, 2011
	As Reported			Non-GAAP Adjustments			Non-GAAP as Adjusted
Revenues:
Product	$	192,209		$	—		$	192,209
Service		44,566			1,744			46,310
Total revenues	$	236,775		$	1,744		$	238,519
Cost of revenues:
Product	$	112,766		$	(2,882	)	$	109,884
Service		24,738			—			24,738
Total cost of revenues	$	137,504		$	(2,882	)	$	134,622
Gross margins:
Product		41.3	%					42.8	%
Service		44.5	%					46.6	%
Total		41.9	%					43.6	%
	Twelve Months Ended December 31, 2011
	As Reported			Non-GAAP Adjustments			Non-GAAP as Adjusted
Revenues:
Product	$	676,991		$	—		$	676,991
Service		171,190			6,826			178,016
Total revenues	$	848,181		$	6,826		$	855,007
Cost of revenues:
Product	$	404,591		$	(11,422	)	$	393,169
Service		96,853			—			96,853
Total cost of revenues	$	501,444		$	(11,422	)	$	490,022
Gross margins:
Product		40.2	%					41.9	%
Service		43.4	%					45.6	%
Total		40.9	%					42.7	%

This presentation has been adjusted to reflect certain reclassifications applied to subsequent periods.

Total cost of revenues and Total gross margins remain unchanged.

5

INTERMEC, INC.

SUPPLEMENTAL INFORMATION: EBITDA AND ADJUSTED EBITDA CALCULATION

(In thousands)

(Unaudited)

	Three Months Ended												Twelve Months Ended
	April 3, 2011			July 3, 2011			October 2, 2011			December 31, 2011			December 31, 2011
Operating income (loss), as reported	$	(8,602	)	$	(3,078	)	$	1,000		$	4,435		$	(6,245	)
Acquisition adjustments
Acquisition fair-value adjustments		1,889			2,490			2,178			1,744			8,301
Intangible amortization		1,102			3,174			3,746	(c)		3,205			11,227	(c)
Acquisition costs		4,839			373			554			208			5,974
Capitalized legal fees charge		—			—			—			5,573			5,573
Restructuring charges		—			5,112			644			99			5,855
Impairment of property, plant and equipment		—			—			—			900			900
Other		—			618			620			682			1,920
Total adjustments		7,830			11,767			7,742			12,411			39,750
Non-GAAP operating income (loss)	$	(772	)	$	8,689		$	8,742		$	16,846		$	33,505
Adjusted EBITDA calculation
Add: depreciation and amortization (excluding acquisition related)	$	3,805		$	4,540		$	5,082	(a)	$	4,027		$	17,454	(a)
Add: stock-based compensation		2,328			2,048			3,172			3,748	(b)		11,296
Adjusted EBITDA	$	5,361		$	15,277		$	16,996		$	24,621		$	62,255

(a) Due to a calculation error in the reconciliation accompanying the third quarter 2011 earnings release, total amortization expense for the period increased to $5.1 million from the $4.7 million included in the original reconciliation.

(b) Stock compensation expense was increased to $3.7 million from the $3.6 million used in the reconciliation for the fourth quarter of 2011 accompanying the 2011 year-end earnings release.

(c) Total Acquisition related amortization for the third quarter increased to $3.7 million from the $3.4 million reported in the reconciliation accompanying the third quarter 2011 press release due to the exclusion of amortization of certain intangibles from the calculation.

Intermec is providing disclosure of the reconciliation of certain Non-US GAAP financial measures used in our financial reporting and within our press release, among other places, to our comparable financial measures on a US GAAP basis. The Company believes that these Non-US GAAP financial measures provide investors the additional information to evaluate financial performance in a way that is comparable to measures reported by other technology companies.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) is net income (loss) before provisions for income taxes, net interest expense, and depreciation and amortization. EBITDA should not be considered an alternative to, or more meaningful than, income before income taxes, cash flow from operations, or other traditional indicators of operating performance. Rather, EBITDA is presented because it is a widely accepted supplemental financial measure that we believe provides relevant and useful information. Our calculation of adjusted EBITDA adds back the non-cash effect of stock-based compensation as accounted for under ACS 718 as we believe this is a meaningful view of our true cash earnings. Adjusted EBITDA may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate this non-US GAAP measure in the same manner.

6

EX-99.3

Exhibit 99.3

    Intermec, Inc.

    6001 36^th Avenue West

    Everett, WA 98203-1264

    www.intermec.com

FOR IMMEDIATE RELEASE

Contact:

Dan Evans

Investor Relations

425-267-2975

dan.evans@intermec.com

PATRICK BYRNE DEPARTS AS INTERMEC’S CHIEF EXECUTIVE OFFICER

EVERETT, Wash. – May 1, 2012 – Intermec, Inc. (NYSE: IN) today announced the departure of President, Chief Executive Officer and Board member, Patrick J. Byrne.

Chairman of the Board, Allen J. Lauer, will serve as Interim Chief Executive Officer and President effective immediately, until a permanent successor is in place, and will continue to serve as Chairman of the Board. In a related change, the Company announced that Board member Stephen P. Reynolds will serve as Lead Independent Director and will succeed Mr. Lauer in the position of Chairman of the Company’s Governance and Nominating Committee.

“Pat made many positive contributions here at Intermec including leading the Company through transformations in our sales channels and supply chain, as well as executing several successful acquisitions. We wish him the very best in his future endeavors,” said Mr. Lauer. “Going forward, we will make sure that Intermec’s focus on excellence and innovation continues. The Board is fully engaged and intends to take full advantage of the Company’s many strengths to accelerate value creation for our customers, shareholders and employees.”

Mr. Lauer has been a member of Intermec’s Board since 2003 and has served as the non-executive Chairman of the Board and Chair of the Governance Committee since 2007. He is the retired CEO of Varian, Inc., a supplier of scientific instruments and vacuum technologies, a position he held from 1999 to 2003. He served as Varian’s Chairman from 2002 to 2009. Mr. Reynolds is the former President, Chief Executive Officer and director of Puget Energy, Inc., a regulated Washington State utility, and its wholly owned utility subsidiary, Puget Sound Energy, Inc.

About Intermec, Inc.

Intermec Inc. (NYSE:IN) develops and integrates products, services and technologies that identify, track and manage supply chain assets and information. Core technologies include rugged mobile computing and data collection systems, voice solutions that increase business performance, bar code printers, label media, and RFID. The Company’s products and services are used by customers in many industries worldwide to improve the productivity, quality and responsiveness of business operations. For more information about Intermec, visit www.intermec.com or call 800-347-2636.

Forward Looking Statements

Statements made in this release and related statements that express Intermec’s or our management’s intentions, hopes, indications, beliefs, expectations, guidance, estimates, forecasts or predictions of the future constitute forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995, and relate to matters that are not historical facts. The forward-looking statements contained herein include, without limitation, statements regarding: our management succession and our view of our financial or business prospects for the future. When used in this document and in documents it refers to, the words “anticipate,” “believe,” “will,” “intend,” “project” and “expect” and similar expressions as they relate to us or our management are intended to identify such forward-looking statements. These statements represent beliefs and expectations only as of the date they were made. We may elect to update forward-looking statements, but we expressly disclaim any obligation to do so, even if our beliefs and expectations change.

Forward-looking statements involve and are subject to certain risks and uncertainties, which may cause our actual results to differ materially from those expressed or implied in our forward-looking statements. These risk factors include, but are not limited to, risks and uncertainties described more fully in our reports filed or to be filed with the Securities and Exchange Commission including, but not limited to, our annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K, which are available on our website at www.intermec.com.