First Quarter Earnings Call

May 10, 2006

Exhibit 99.1

First Quarter Earnings Call

During the course of this presentation, we may make projections or other

forward-looking statements regarding future events or the future financial

performance of the company.

Such statements are just estimates and actual events or results may differ

materially from these forward-looking statements.  Please refer to the

documents that the company files with the SEC from time to time and the

company’s

first

quarter

earnings

press

release

for

a

detailed

discussion

of

the

factors,

risks

and

uncertainties

that

could

cause

actual

results

to

differ

materially from those contained in our projections or forward-looking

statements.

During this presentation, we will refer to certain non-GAAP measures as

defined by the SEC. As required, we have provided a reconciliation of those

measures to the most comparable GAAP measures.

Copies of our SEC filings are available upon request or by accessing our

company website at www.metrologic.com.

Forward-Looking Statements

Private Securities Litigation Reform Act of 1995 Safe Harbor Provision

Page 2

First Quarter Earnings Call

C. Harry Knowles

Chairman of the Board

First Quarter Earnings Call

Frank Zirnkilton

Executive Vice President,

Chief Administrative Officer

First Quarter Earnings Call

Q106 Overview

Adjusted

Effect of

As Reported

Actual

Q106

SFAS 123( R)

Q106

Q105

Change

Revenue

$60,235

$0

$60,235

$46,851

28.6%

Gross Profit

24,147

(321)

23,826

20,118

20.0%

Gross Margin

40.1%

(50bp)

39.6%

42.9%

(280bp)

Net Income

5,348

(988)

4,360

3,901

37.1%

EPS (Fully Diluted)

$0.23

($0.04)

$0.19

$0.17

35.3%

A Strong Start to 2006

Page 5

Q106 Highlights:

•

Strength from Channel partners

•

Stratos

and Focus rollouts continue

•

3 new products introduced

•

MaxID

partnership and Visible-RF acquisition

First Quarter Earnings Call

$-

$10.0

$20.0

$30.0

$40.0

$50.0

$60.0

$70.0

Q106

Q105

Q106 Sales by Market

Page 6

INDUSTRIAL

DCC

OPTICAL SYSTEMS

•

Up 37.6% for the quarter

•

Strong performance in the Channel

•

Continued Tier 1 rollouts

•

Down 45.5% for the quarter

•

RFID efforts announced

•

Progress on international sales

•

Up 29.7% for the quarter

•

Strong growth due to Proprietary

Programs projects

QUARTERLY

First Quarter Earnings Call

Mark C. Schmidt

Executive Vice President,

Strategic Initiatives

First Quarter Earnings Call

Building one of the industry’s broadest product lines

Product and Technology Update

Page 8

MR600 Impulse

•

Offers advanced digital filtering capability

•

Affordable,

multi-protocol

Gen

2

EPCGlobal

certified 

solution

SP5800 Maximus

•

Rugged CE.NET mobile device

•

Incorporates multi-frequency RFID, high-resolution

imager and an integrated fingerprint reader

Visible RF-LLC

•

A unique differentiation of RFID technology

•

“Remotely updateable human readable label”

•

Applicability

in

many

current

verticals

as

well

as

potential

to

expand

addressable markets

First Quarter Earnings Call

Winning customers…one deal at a time

The Americas

Page 9

Data Capture & Collection

•Focus®

rollouts continue

•Record sales-out in the

Channel

•Stability in South America

supporting higher growth

•Merger of 2 existing

customers and conversion to

VoyagerBT

Industrial Automation

•Partnership with MaxID

•2 new RFID products

introduced

Optical Systems

•Growth in all 3 markets

QUARTERLY

Q106 Highlights:

$27.9

$22.6

$0.0

$5.0

$10.0

$15.0

$20.0

$25.0

$30.0

Q106

Q105

First Quarter Earnings Call

Cautiously Optimistic

Europe, Middle East, Africa

Page 10

•Tesco

and Systeme

U

remain important but

not the whole story

•Reverse vending

continues to be strong

•Baltic region seeing

growth and interest

from retailers

•Focus gaining traction

in Europe

QUARTERLY

Q106 Highlights:

$27.1

$18.9

$0.0

$5.0

$10.0

$15.0

$20.0

$25.0

$30.0

Q106

Q105

First Quarter Earnings Call

Winning customers…one deal at a time

AsiaPac

& ROW

Page 11

•Tough Comp to Q105

•Additional orders for

the IQ series Industrial

Automation products

•Strong Channel

performance

•Positive outlook for

2006

$5.2

$5.4

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

$3.5

$4.0

$4.5

$5.0

$5.5

Q106

Q105

QUARTERLY

Q106 Highlights:

First Quarter Earnings Call

Kevin Bratton

Chief Financial Officer

First Quarter Earnings Call

Q106 Non-GAAP Measures Reconciliation

Actual

Effect

Actual

Before

Of

As

(US $mm)

SFAS 123( R)

SFAS 123( R)

Reported

Sales

60,235

0

60,235

Cost of Goods Sold

36,088

321

36,409

Gross Profit

24,147

(321)

23,826

SG&A

13,857

930

14,787

Research & Development

2,194

292

2,486

EBIT

8,096

(1,543)

6,553

EBITDA

9,865

(1,543)

8,322

Net Income

5,348

(988)

4,360

FD EPS

0.23

(0.04)

0.19

Growth and Margin Analysis (%)

Gross Profit Margin

40.1%

39.6%

SG&A as a % of Sales

23.0%

24.5%

R&D as a % of Sales

3.6%

4.1%

EBIT Margin

13.4%

10.9%

EBITDA Margin

16.4%

13.8%

Committed to enhancing long-term shareholder value

Page 13

First Quarter Earnings Call

Comparative Quarterly Income Statement

(US $mm)

Q1 2006*

Q1 2005

Change

Sales

60,235

46,851

28.6%

Cost of Goods Sold

36,088

26,733

35.0%

Gross Profit

24,147

20,118

20.0%

SG&A

13,857

11,395

21.6%

Research & Development

2,194

1,952

12.4%

EBIT

8,096

6,771

19.6%

EBITDA

9,865

8,464

16.6%

Net Income

5,348

3,901

37.1%

EPS (Fully Diluted)

0.23

0.17

35.3%

Growth and Margin Analysis (%)

Gross Profit Margin

40.1%

42.9%

(280.0)

bp

SG&A as a % of Sales

23.0%

24.3%

(130.0)

bp

R&D as a % of Sales

3.6%

4.2%

(60.0)

bp

EBIT Margin

13.4%

14.5%

(110.0)

bp

EBITDA Margin

16.4%

18.1%

(170.0)

bp

Committed to enhancing long-term shareholder value

Page 14

* Excludes the effects of SFAS No. 123 (R)

First Quarter Earnings Call

Gross Margin

Committed to enhancing long-term shareholder value

$0

$20

$40

$60

$80

$100

2002

2003

2004

2005

Q1 05

Q1 06*

$41.4

$25.5

$20.1

$90.8

$81.7

$58.4

35.8%

42.3%

45.9%

43.2%

42.9%

40.1%

Page 15

*Excludes the effects of SFAS No. 123(R)

First Quarter Earnings Call

$0

$2

$4

$6

$8

$10

Operating Income by Quarter

$1.6

$3.1

$3.6

$3.8

$4.6

$8.2

$8.6

$7.0

$7.2

$8.9

$6.8

Committed to enhancing long-term shareholder value

$7.2

Page 16

$9.9

$9.7

$8.1

* Excludes the $12.6M charge for the Symbol royalty

** Excludes the effects of SFAS No. 123(R)

First Quarter Earnings Call

$0

$1

$2

$3

$4

$5

$6

$7

$8

$9

$10

Net Income by Quarter

* Includes one time or non-recurring items aggregating income of approximately $1.9M.

** Includes one-time recognition of the $2.25M cash settlement with PSC Inc.

*** Excludes $12.6M royalty settlement with Symbol Technologies

**** Excludes the effects of SFAS No. 123 (R)

$1.7

$3.8

$2.2

$2.7

$5.2

$5.1

$4.2

$4.7

$8.7

$3.9

$0.3

Committed to enhancing long-term shareholder value

$4.7

Page 17

$7.7

$9.0

$5.3

First Quarter Earnings Call

Committed to enhancing long-term shareholder value

Balance Sheet

(US$mm)

Mar 31, 2006

Dec 31, 2005

Cash

$60.2

$73.9

Current assets (non-cash)

91.3

84.2

Net PPE

20.5

20.4

Other assets

44.4

47.7

Total Assets

$216.4

$226.2

Current liabilities

27.5

47.4

Total Debt (long-term and short-term)

16.6

18.4

Other liabilities

2.5

0.1

Stockholders’ Equity

169.8

160.3

Total Liabilities and Stockholders’ Equity

$216.4

$226.2

Total Working Capital

$107.3

$92.3

Page 18

First Quarter Earnings Call

Frank Zirnkilton

Executive Vice President, Chief

Administrative Officer

First Quarter Earnings Call

FY 2006 Updated Guidance

2005

* Euro Assumptions

$1.20 to $1.25

* Gross Margin

40% to 42%

* Effective full year tax rate

36%

* Effect of SFAS No. 123(R)

Est. $3M or $.13 per

fully diluted share

$210.5M

$245M -

$255M

$19M –

$21M

$0.82 -

$0.91

$17.8M

$0.77

FD EPS

Net Income

Revenue

2006 *

Positive outlook for 2006

Page 20

Earnings Guidance was effective as of the date given and will not be revised

until the Company publicly announces updated guidance.

First Quarter Earnings Call

Metrologic –

A Strong Growth Company

$36

$42

$47

$53

$66

$80

$92

$112

$116

$138

$178

$211

$250

$0

$50

$100

$150

$200

$250

$300

Focused on maintaining the momentum

Page 21

*Based upon the midpoint of the Company’s FY 2006 guidance.

*Earnings Guidance was effective as of the date given and will

not be revised until the Company publicly announces updated guidance.