Stock Monitor: CVD Equipment Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 6, 2018 / Active-Investors.com has just released a free earnings report on Zebra Technologies Corp. (NASDAQ: ZBRA). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ZBRA. Zebra Technologies reported its fourth quarter fiscal 2017 operating and financial results on February 22, 2018. The producer of printers for barcodes, plastic cards, and radio-frequency identification tags outperformed top- and bottom-line expectation and provided guidance for the upcoming quarter and fiscal year 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for CVD Equipment Corporation (NASDAQ: CVV), which also belongs to the Industrial Goods sector as the Company Zebra Technologies. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Zebra Technologies most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
Zebra Technologies recorded net sales of $1.03 billion in the fourth quarter of 2017 compared to $942 million in Q4 2016. The Company's consolidated adjusted net sales were $1.03 billion in the reported quarter compared to $944 million in the prior year's same period, reflecting an increase of 8.7%. Zebra Technologies' consolidated organic net sales growth was 7.3% for Q4 2017 reflecting growth across all regions, most notably Europe, Middle-East, and Africa (EMEA), Latin America, and North America. Zebra Technologies' reported numbers topped analysts' estimates of $982.8 million.
During Q4 2017, Zebra Technologies reported gross profit of $469 million compared to $432 million in Q4 2016. The Company's reported quarter consolidated adjusted gross margin was 45.8% versus 46.1% in the prior year's comparable period. This decrease was due to changes in business mix and higher support services costs.
For Q4 2017, Zebra Technologies' adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) increased to $204 million, or 19.9% of adjusted net sales, compared to $179 million, or 19.0% of adjusted net sales, for Q4 2016, primarily due to operating leverage on increased sales.
Zebra Technologies' net income was $4 million, or $0.07 per diluted share, for Q4 2017 compared to net income of $17 million, or $0.34 per diluted share, for Q4 2016. The Company's non-GAAP net income was $126 million, or $2.33 per diluted share, for the reported quarter compared to $102 million, or $1.93 per diluted share, for the prior year's same quarter. Zebra Technologies earnings beat Wall Street's estimates of $2.12 per share.
Zebra Technologies' Segment Results
During Q4 2017, net sales in the Enterprise Visibility & Mobility (EVM) segment were $675 million compared with $617 million in Q4 2016. The segment recorded organic net sales growth of 8.5% in the reported quarter.
Asset Intelligence & Tracking (AIT) segment's net sales came in at $351 million for Q4 2017 compared to $327 million in the prior year's corresponding period. The segment generated organic net sales growth of 5.0% in the reported period.
Balance Sheet and Cash Flow
As of December 31, 2017, Zebra Technologies had cash and cash equivalents of $62 million and total debt of $2.23 billion.
In Q4 2017, Zebra Technologies completed the comprehensive plan to restructure its debt, which was initiated in July 2017. The actions taken in the reported quarter included the redemption of the remaining $300 million of 7.25% senior notes and the implementation of a new $180 million receivables financing facility ($135 million drawn as of December 31, 2017).
For FY17, Zebra Technologies' free cash flow was $428 million, consisting of $478 million of cash flow from operations and capital expenditures of $50 million. The Company made payments of long-term debt of $1,825 million and received proceeds from the issuance of long-term debt of $1,371 million, resulting in a $454 million net reduction of total debt in FY17.
Zebra Technologies entered FY18 with a strong order backlog and expects first-quarter 2018 net sales to increase approximately 7% to 10% on a y-o-y basis. The Company's adjusted EBITDA margin is expected to be in the range of 18.5% to 19.0% for the upcoming quarter, favorable to the prior year's same period. Zebra Technologies is estimating non-GAAP earnings to be in the range of $1.95 to $2.15 per share.
For full-year 2018, Zebra Technologies is projecting 2018 net sales growth to increase approximately 4% to 7%, including an anticipated 2% positive impact from foreign currency translation. The Company's adjusted EBITDA margin is expected to be in the range of 19% to 20% for FY18. Zebra Technologies expects to generate free cash flow of at least $475 million and continue to reduce financial leverage in FY18.
Stock Performance Snapshot
April 05, 2018 - At Thursday's closing bell, Zebra Technologies' stock marginally declined 0.22%, ending the trading session at $139.18.
Volume traded for the day: 303.37 thousand shares.
Stock performance in the last three-month – up 31.59%; previous six-month period – up 25.61%; past twelve-month period – up 51.81%; and year-to-date – up 34.08%
After yesterday's close, Zebra Technologies' market cap was at $7.40 billion.
Price to Earnings (P/E) ratio was at 84.25.
The stock is part of the Industrial Goods sector, categorized under the Diversified Machinery industry. This sector was up 1.2% at the end of the session.
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