Exhibit 99.1
FOR IMMEDIATE RELEASE
| Contact: | ||
| Investors: | Media: | |
| Douglas A. Fox, CFA | Robb Kristopher | |
| Vice President, Investor Relations | Director, Corporate Communications | |
| and Treasurer | and Public Relations | |
| + 1 847 793 6735 | + 1 847 793 5514 | |
| dfox@zebra.com | rkristopher@zebra.com |
Zebra Technologies Announces Financial Results
for the 2013 Second Quarter
Sales up 2.5% from a year ago and 6.8% from the first quarter of 2013
Lincolnshire, IL, August 6, 2013—Zebra Technologies Corporation (NASDAQ: ZBRA) today announced 2013 second quarter diluted earnings per share from continuing operations of $0.60, including exit, restructuring and acquisition costs that reduced earnings by $0.03 per share. Income from continuing operations for the second quarter of 2012 totaled $0.58 per share. Net sales for the quarter ended June 29, 2013, increased 2.5% to $253,160,000 from $247,077,000 for the second quarter of 2012.
Summary Financial Performance (Unaudited)
| 2Q13 | 2Q12 | Change | ||||||||||
| Net sales (in 000s) |
$ | 253,160 | $ | 247,077 | 2.5 | % | ||||||
| Gross margin (%) |
47.8 | 48.7 | (0.9 | ) pts. | ||||||||
| Operating margin (%) |
14.3 | 15.9 | (1.7 | ) pts. | ||||||||
| Income from continuing operations (in 000s) |
$ | 37,716 | $ | 39,719 | (5.0 | )% | ||||||
| Income (loss) from discontinued operations, net of tax (in 000s) |
$ | 8 | $ | 300 | N/M | |||||||
| Net income (in 000s) |
$ | 30,566 | $ | 30,653 | (0.3 | )% | ||||||
| Diluted earnings per share: |
||||||||||||
| Income from continuing operations |
$ | 0.60 | $ | 0.58 | 3.4 | % | ||||||
| Income from discontinued operations |
$ | 0.00 | $ | 0.01 | N/M | |||||||
| Net income |
$ | 0.60 | $ | 0.59 | 1.7 | % | ||||||
“In a quarter still challenged by uneven global business conditions, we won more business with strategic customers in targeted industries and delivered a broader range of products and solutions to a more diversified customer base,” stated Anders Gustafsson, Zebra’s chief executive officer. “During the quarter, the cadence of our product development activities remained high, with the recent introductions
- 1 -
of our ZXP Series 1 and updated ZXP Series 3 card printers, and our EM220 II wireless mobile receipt printer. We also accelerated investments to introduce innovative Internet of Things products and solutions to serve customers in sports and entertainment. Our recently launched Zebra Commerce™ brand will help us to more effectively deliver the broad suite of Zebra products and services to customers in the retail and field service industries. We look to the second half of 2013 with optimism about making further progress on our strategic initiatives and building greater value for our sharesholders.”
As of June 29, 2013, Zebra had $454,038,000 in cash and investments, and no long-term debt. Net inventories were $109,149,000, and net accounts receivable were $170,856,000.
For the first six months of 2013, net sales were $490,097,000, compared with $490,952,000 for the first half of 2012. Net income for the six months that ended June 29, 2013, was $54,108,000, or $1.05 per diluted share, compared with $60,817,000, or $1.17 per diluted share, for the same period in 2012.
Discussion and Analysis – Second Quarter
| • | Net sales growth of 2.5% included increased sales for the company in North America, Asia Pacific and the Europe, Middle East and Africa region. Organic growth of Zebra’s label and wristband business was supplemented with sales from the July 2012 acquisition of LaserBand. |
| • | Gross profit margin of 47.8%, versus 48.7% in 2012, reflects changes in product mix and selected pricing on certain large business opportunities with strategic customers in targeted markets. |
| • | Operating expense growth of 4.6% includes $1,101,000 for exit and restructuring costs and $618,000 for acquisition costs. Other increases in operating expenses principally relate to accelerated product development and sales and marketing activities supporting Zebra’s entry to serve customers in the sports industry. Amortization increased over 2012 levels primarily due to intangible assets acquired as part of the July 2012 LaserBand acquisition. |
| • | Other income includes a net $1,557,000 favorable litigation settlement, which is related to an investment loss that was recorded in prior years. |
Stock Purchase Update
During the second quarter of 2013, Zebra returned $24,674,000 to shareholders through the repurchase of 539,788 shares of Zebra Technologies Corporation Class A Common Stock at a weighted average price of $45.71 per share. At June 29, 2013, the company had 1,395,294 shares remaining in its stock buyback authorization, and 50,782,000 shares of common stock were outstanding.
- 2 -
Third Quarter Outlook
Zebra announced its financial forecast for the third quarter of 2013. Net sales are expected within a range of $253,000,000 to $263,000,000. Diluted earnings per share are expected within a range of $0.61 to $0.71.
Conference Call Notification
Investors are invited to listen to a live webcast of Zebra’s conference call discussing the company’s financial results for the second quarter of 2013. The conference call will be held at 11:00 AM Eastern Time today. To listen to the call, visit the company’s website at http://www.zebra.com.
Forward-looking Statement
This press release contains forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation, the statements regarding the company’s financial forecast for the third quarter of 2013 stated in the paragraph above captioned “Third Quarter Outlook.” Actual results may differ from those expressed or implied in the company’s forward-looking statements. These statements represent estimates only as of the date they were made. Zebra undertakes no obligation, other than as may be required by law, to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason after the date of this release.
These forward-looking statements are based on current expectations, forecasts and assumptions and are subject to the risks and uncertainties inherent in Zebra’s industry, market conditions, general domestic and international economic conditions, and other factors. These factors include customer acceptance of Zebra’s hardware and software products and competitors’ product offerings, and the potential effects of technological changes. The continued uncertainty over future global economic conditions, the availability of credit, capital markets volatility, may have adverse effects on Zebra, its suppliers and its customers. In addition, a disruption in our ability to obtain products from vendors as a result of supply chain constraints, natural disasters or other circumstances could restrict sales and negatively affect customer relationships. Profits and profitability will be affected by Zebra’s ability to control manufacturing and operating costs. Because of a large investment portfolio, interest rates and financial market conditions will also have an impact on results. Foreign exchange rates will have an effect on financial results because of the large percentage of our international sales. The outcome of litigation in which Zebra may be involved is another factor. The success of integrating acquisitions could also affect profitability, reported results and the company’s competitive position in it industry. These and other factors could have an adverse effect on Zebra’s sales, gross profit margins and results of operations and increase the volatility of our financial results. When used in this release and documents referenced, the words “anticipate,” “believe,” “estimate,” and “expect” and similar expressions, as they relate to the company or its management, are intended to identify such forward-looking statements, but are not the exclusive means of identifying these statements. Descriptions of the risks, uncertainties and other factors that could affect the company’s future operations and results can be found in Zebra’s filings with the Securities and Exchange Commission. In particular, readers are referred to Zebra’s Form 10-K for the year ended December 31, 2012.
About Zebra Technologies
A global leader respected for innovation and reliability, Zebra Technologies Corporation (NASDAQ: ZBRA) offers technologies that give a virtual voice to an organization’s assets, people and transactions, enabling organizations to unlock greater business value. The company’s extensive portfolio of marking and printing technologies, including RFID and real-time location solutions, illuminates mission-critical information to help customers take smarter business actions. For more information about Zebra’s solutions, visit http://www.zebra.com.
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ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Amounts in thousands)
| June 29, 2013 |
December 31, 2012 |
|||||||
| (Unaudited) | ||||||||
| ASSETS | ||||||||
| Current assets: |
||||||||
| Cash and cash equivalents |
$ | 55,886 | $ | 64,740 | ||||
| Investments and marketable securities |
389,799 | 324,140 | ||||||
| Accounts receivable, net |
170,856 | 168,732 | ||||||
| Inventories, net |
109,149 | 123,357 | ||||||
| Deferred income taxes |
13,190 | 13,484 | ||||||
| Income taxes receivable |
7,481 | — | ||||||
| Prepaid expenses and other current assets |
16,246 | 16,410 | ||||||
|
|
|
|
|
|||||
| Total current assets |
762,607 | 710,863 | ||||||
|
|
|
|
|
|||||
| Property and equipment at cost, less accumulated depreciation and amortization |
101,737 | 101,349 | ||||||
| Long-term deferred income taxes |
— | 2,602 | ||||||
| Goodwill |
94,942 | 94,942 | ||||||
| Other intangibles, net |
35,425 | 39,151 | ||||||
| Long-term investments and marketable securities |
8,353 | 5,195 | ||||||
| Other assets |
15,491 | 13,646 | ||||||
|
|
|
|
|
|||||
| Total assets |
$ | 1,018,555 | $ | 967,748 | ||||
|
|
|
|
|
|||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY |
||||||||
| Current liabilities: |
||||||||
| Accounts payable |
$ | 31,945 | $ | 23,045 | ||||
| Accrued liabilities |
50,584 | 57,234 | ||||||
| Deferred revenue |
12,416 | 13,326 | ||||||
| Income taxes payable |
6,870 | 1,609 | ||||||
|
|
|
|
|
|||||
| Total current liabilities |
101,815 | 95,214 | ||||||
| Long-term deferred tax liability |
1,544 | — | ||||||
| Deferred rent |
1,332 | 1,303 | ||||||
| Other long-term liabilities |
17,285 | 14,229 | ||||||
|
|
|
|
|
|||||
| Total liabilities |
121,976 | 110,746 | ||||||
|
|
|
|
|
|||||
| Stockholders’ equity: |
||||||||
| Preferred Stock |
— | — | ||||||
| Class A Common Stock |
722 | 722 | ||||||
| Additional paid-in capital |
137,342 | 139,523 | ||||||
| Treasury stock |
(654,518 | ) | (641,438 | ) | ||||
| Retained earnings |
1,422,628 | 1,368,520 | ||||||
| Accumulated other comprehensive loss |
(9,595 | ) | (10,325 | ) | ||||
|
|
|
|
|
|||||
| Total stockholders’ equity |
896,579 | 857,002 | ||||||
|
|
|
|
|
|||||
| Total liabilities and stockholders’ equity |
$ | 1,018,555 | $ | 967,748 | ||||
|
|
|
|
|
|||||
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ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
(Amounts in thousands, except per share data)
(Unaudited)
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 29, 2013 | June 30, 2012 | June 29, 2013 | June 30, 2012 | |||||||||||||
| Net sales: |
||||||||||||||||
| Net sales of tangible products |
$ | 239,909 | $ | 234,708 | $ | 465,030 | $ | 467,184 | ||||||||
| Revenue from services and software |
13,251 | 12,369 | 25,067 | 23,768 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total net sales |
253,160 | 247,077 | 490,097 | 490,952 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Cost of sales: |
||||||||||||||||
| Cost of sales of tangible products |
125,664 | 119,980 | 242,775 | 239,013 | ||||||||||||
| Cost of services and software |
6,589 | 6,720 | 13,350 | 11,679 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total cost of sales |
132,253 | 126,700 | 256,125 | 250,692 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Gross profit |
120,907 | 120,377 | 233,972 | 240,260 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating expenses: |
||||||||||||||||
| Selling and marketing |
33,830 | 32,158 | 67,345 | 64,272 | ||||||||||||
| Research and development |
23,201 | 22,336 | 45,059 | 42,752 | ||||||||||||
| General and administrative |
24,053 | 24,402 | 49,329 | 48,722 | ||||||||||||
| Amortization of intangible assets |
1,863 | 770 | 3,726 | 1,540 | ||||||||||||
| Acquisition costs |
618 | 1,252 | 1,100 | 1,506 | ||||||||||||
| Exit and restructuring costs |
1,101 | 0 | 2,996 | 0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total operating expenses |
84,666 | 80,918 | 169,555 | 158,792 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Operating income |
36,241 | 39,459 | 64,417 | 81,468 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Other income (expense): |
||||||||||||||||
| Investment income |
473 | 826 | 1,150 | 1,418 | ||||||||||||
| Foreign exchange loss |
(462 | ) | (80 | ) | (560 | ) | (422 | ) | ||||||||
| Other, net |
1,464 | (486 | ) | 1,473 | (850 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total other income |
1,475 | 260 | 2,063 | 146 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Income from continuing operations before income taxes |
37,716 | 39,719 | 66,480 | 81,614 | ||||||||||||
| Income taxes |
7,158 | 9,366 | 12,380 | 21,097 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Income from continuing operations |
30,558 | 30,353 | 54,100 | 60,517 | ||||||||||||
| Income from discontinued operations, net of tax |
8 | 300 | 8 | 300 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net income |
$ | 30,566 | $ | 30,653 | $ | 54,108 | $ | 60,817 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Basic earnings per share: |
||||||||||||||||
| Income from continuing operations |
$ | 0.60 | $ | 0.58 | $ | 1.06 | $ | 1.16 | ||||||||
| Income from discontinued operations |
0.00 | 0.01 | 0.00 | 0.01 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net income |
$ | 0.60 | $ | 0.59 | $ | 1.06 | $ | 1.17 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Diluted earnings per share: |
||||||||||||||||
| Income from continuing operations |
$ | 0.60 | $ | 0.58 | $ | 1.05 | $ | 1.16 | ||||||||
| Income from discontinued operations |
0.00 | 0.01 | 0.00 | 0.01 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Net income |
$ | 0.60 | $ | 0.59 | $ | 1.05 | $ | 1.17 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Basic weighted average shares outstanding |
50,900 | 51,771 | 50,929 | 51,881 | ||||||||||||
| Diluted weighted average and equivalent shares outstanding |
51,283 | 52,030 | 51,310 | 52,156 | ||||||||||||
- 5 -
ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Amounts in thousands)
(Unaudited)
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 29, 2013 | June 30, 2012 | June 29, 2013 | June 30, 2012 | |||||||||||||
| Net income |
$ | 30,566 | $ | 30,653 | $ | 54,108 | $ | 60,817 | ||||||||
| Other comprehensive income (loss): |
||||||||||||||||
| Unrealized gains (losses) on hedging transactions, net of income taxes |
(391 | ) | 2,400 | 1,352 | (2,246 | ) | ||||||||||
| Unrealized holding gains (losses) on investments, net of income taxes |
(867 | ) | (46 | ) | (939 | ) | 524 | |||||||||
| Foreign currency translation adjustment |
223 | 105 | 317 | 188 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Comprehensive income |
$ | 29,531 | $ | 33,112 | $ | 54,838 | $ | 59,283 | ||||||||
|
|
|
|
|
|
|
|
|
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- 6 -
ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands)
(Unaudited)
| Six Months Ended | ||||||||
| June 29, 2013 | June 30, 2012 | |||||||
| Cash flows from operating activities: |
||||||||
| Net income |
$ | 54,108 | $ | 60,817 | ||||
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: |
||||||||
| Depreciation and amortization |
15,412 | 11,964 | ||||||
| Share-based compensation |
6,504 | 8,045 | ||||||
| Excess tax benefit from share-based compensation |
(3,727 | ) | (1,358 | ) | ||||
| Loss on sale of property and equipment |
182 | 147 | ||||||
| Gain on sale of business |
0 | (613 | ) | |||||
| Deferred income taxes |
4,439 | 367 | ||||||
| Changes in assets and liabilities: |
||||||||
| Accounts receivable, net |
(1,976 | ) | (657 | ) | ||||
| Inventories, net |
14,190 | 16,599 | ||||||
| Other assets |
1,313 | 527 | ||||||
| Accounts payable |
3,263 | (9,594 | ) | |||||
| Accrued liabilities |
(6,094 | ) | (11,422 | ) | ||||
| Deferred revenue |
1,585 | 1,460 | ||||||
| Income taxes |
476 | 10,714 | ||||||
| Other operating activities |
1,381 | (2,341 | ) | |||||
|
|
|
|
|
|||||
| Net cash provided by operating activities |
91,056 | 84,655 | ||||||
|
|
|
|
|
|||||
| Cash flows from investing activities: |
||||||||
| Purchases of property and equipment |
(8,547 | ) | (10,599 | ) | ||||
| Proceeds from the sale of business |
0 | 13,790 | ||||||
| Acquisition of intangible assets |
(500 | ) | 0 | |||||
| Purchase of long-term equity investment |
(604 | ) | (5,000 | ) | ||||
| Purchases of investments and marketable securities |
(231,174 | ) | (313,863 | ) | ||||
| Maturities of investments and marketable securities |
19,188 | 228,105 | ||||||
| Proceeds from sales of investments and marketable securities |
142,230 | 95,106 | ||||||
|
|
|
|
|
|||||
| Net cash provided by (used in) investing activities |
(79,407 | ) | 7,539 | |||||
|
|
|
|
|
|||||
| Cash flows from financing activities: |
||||||||
| Purchase of treasury stock |
(28,563 | ) | (24,645 | ) | ||||
| Proceeds from exercise of stock options and stock purchase plan purchases |
4,104 | 142 | ||||||
| Excess tax benefit from share-based compensation |
3,727 | 1,358 | ||||||
|
|
|
|
|
|||||
| Net cash used in financing activities |
(20,732 | ) | (23,145 | ) | ||||
|
|
|
|
|
|||||
| Effect of exchange rate changes on cash |
229 | (99 | ) | |||||
|
|
|
|
|
|||||
| Net increase (decrease) in cash and cash equivalents |
(8,854 | ) | 68,950 | |||||
| Cash and cash equivalents at beginning of period |
64,740 | 36,418 | ||||||
|
|
|
|
|
|||||
| Cash and cash equivalents at end of period |
$ | 55,886 | $ | 105,368 | ||||
|
|
|
|
|
|||||
| Supplemental disclosures of cash flow information: |
||||||||
| Income taxes paid |
$ | 5,346 | $ | 13,479 | ||||
- 7 -
ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL SALES INFORMATION
(Amounts in thousands)
(Unaudited)
SALES BY PRODUCT CATEGORY
| Three Months Ended | ||||||||||||||||||||
| Product Category |
June 29, 2013 |
June 30, 2012 |
Percent Change |
Percent of Net Sales – 2013 |
Percent of Net Sales – 2012 |
|||||||||||||||
| Hardware |
$ | 178,938 | $ | 183,973 | (2.7 | ) | 70.8 | 74.5 | ||||||||||||
| Supplies |
59,618 | 49,508 | 20.4 | 23.5 | 20.0 | |||||||||||||||
| Service and software |
13,251 | 12,369 | 7.1 | 5.2 | 5.0 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
| Subtotal products |
251,807 | 245,850 | 2.4 | 99.5 | 99.5 | |||||||||||||||
| Shipping and handling |
1,353 | 1,227 | 10.3 | 0.5 | 0.5 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total net sales |
$ | 253,160 | $ | 247,077 | 2.5 | 100.0 | 100.0 | |||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
| Six Months Ended | ||||||||||||||||||||
| Product Category |
June 29, 2013 |
June 30, 2012 |
Percent Change |
Percent of Net Sales – 2013 |
Percent of Net Sales – 2012 |
|||||||||||||||
| Hardware |
$ | 345,630 | $ | 365,169 | (5.4 | ) | 70.6 | 74.4 | ||||||||||||
| Supplies |
116,741 | 99,470 | 17.4 | 23.8 | 20.3 | |||||||||||||||
| Service and software |
25,067 | 23,768 | 5.5 | 5.1 | 4.8 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
| Subtotal products |
487,438 | 488,407 | (0.2 | ) | 99.5 | 99.5 | ||||||||||||||
| Shipping and handling |
2,659 | 2,545 | 4.5 | 0.5 | 0.5 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total net sales |
$ | 490,097 | $ | 490,952 | (0.2 | ) | 100.0 | 100.0 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
| SALES BY GEOGRAPHIC REGION | ||||||||||||||||||||
| Three Months Ended | ||||||||||||||||||||
| Geographic Region |
June 29, 2013 |
June 30, 2012 |
Percent Change |
Percent of Net Sales – 2013 |
Percent
of Net Sales – 2012 |
|||||||||||||||
| Europe, Middle East and Africa |
$ | 80,913 | $ | 77,857 | 3.9 | 32.0 | 31.5 | |||||||||||||
| Latin America |
24,322 | 25,371 | (4.1 | ) | 9.6 | 10.3 | ||||||||||||||
| Asia-Pacific |
36,973 | 35,921 | 2.9 | 14.6 | 14.5 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total International |
142,208 | 139,149 | 2.2 | 56.2 | 56.3 | |||||||||||||||
| North America |
110,952 | 107,928 | 2.8 | 43.8 | 43.7 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total net sales |
$ | 253,160 | $ | 247,077 | 2.5 | 100.0 | 100.0 | |||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
| Six Months Ended | ||||||||||||||||||||
| Geographic Region |
June 29, 2013 |
June 30, 2012 |
Percent Change |
Percent of Net Sales – 2013 |
Percent of Net Sales – 2012 |
|||||||||||||||
| Europe, Middle East and Africa |
$ | 158,586 | $ | 163,978 | (3.3 | ) | 32.4 | 33.4 | ||||||||||||
| Latin America |
47,454 | 47,658 | (0.4 | ) | 9.7 | 9.7 | ||||||||||||||
| Asia-Pacific |
69,882 | 69,069 | 1.2 | 14.3 | 14.1 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total International |
275,922 | 280,705 | (1.7 | ) | 56.4 | 57.2 | ||||||||||||||
| North America |
214,175 | 210,247 | 1.9 | 43.6 | 42.8 | |||||||||||||||
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| Total net sales |
$ | 490,097 | $ | 490,952 | (0.2 | ) | 100.0 | 100.0 | ||||||||||||
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ZEBRA TECHNOLOGIES CORPORATION AND SUBSIDIARIES
PRINTER UNITS and AVERAGE UNIT PRICES
(Unaudited)
| Three Months Ended | ||||||||||||
| June 29, | June 30, | Percent | ||||||||||
| 2013 | 2012 | Change | ||||||||||
| Total printers shipped |
328,392 | 330,186 | (0.5 | ) | ||||||||
| Average selling price of printers shipped |
$ | 462 | $ | 471 | (1.9 | ) | ||||||
| Six Months Ended | ||||||||||||
| June 29, | June 30, | Percent | ||||||||||
| 2013 | 2012 | Change | ||||||||||
| Total printers shipped |
628,025 | 627,855 | N/M | |||||||||
| Average selling price of printers shipped |
$ | 466 | $ | 486 | (4.1 | ) | ||||||
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