ZBRA FY 2011 Earnings Report — Zebra Technologies Corporation Revenue & Financial Results | Market Cap Arena

Zebra Technologies CorporationZBRA

FY 2011 Earnings

Reported February 23, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$983M	—	$894M	—	10.0%
Op. Income	$182M	—	$148M	—	22.8%
Gross Margin	49.5%	—	47.0%	—	2.4pp
Net Margin	17.8%	—	11.4%	—	6.4pp
EPS (Diluted)	$3.22	—	$1.77	—	81.9%
Free Cash Flow	$51M	—	$106M	—	-51.6%

Revenue Flow

Item	Amount
REVENUE	$983M
Cost of Revenue	$497M
GROSS PROFIT	$487M
R&D Expenses	$90M
Selling & Marketing	$128M
General & Administrative	$82M
SG&A Expenses	$209M
Other Expenses	$6M
Operating Expenses	$305M
Cost & Expenses	$801M
OPERATING INCOME	$182M
Interest Income	$2M
Interest Expense	$2M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$180M
Income Tax Expense	$49M
Net Income from Continuing Ops	$130M
Net Income from Discontinued Ops	$44M
Other Adjustments	$0
NET INCOME	$175M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$175M
D&A	$24M
EBIT	$184M
EBITDA	$208M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$983M
Cost of Revenue	$497M
GROSS PROFIT	$487M
R&D Expenses	$90M
Selling & Marketing	$128M
General & Administrative	$82M
SG&A Expenses	$209M
Other Expenses	$6M
Operating Expenses	$305M
Cost & Expenses	$801M
OPERATING INCOME	$182M
Interest Income	$2M
Interest Expense	$2M
Other Income/Expenses	-$2M
INCOME BEFORE TAX	$180M
Income Tax Expense	$49M
Net Income from Continuing Ops	$130M
Net Income from Discontinued Ops	$44M
Other Adjustments	$0
NET INCOME	$175M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$175M
D&A	$24M
EBIT	$184M
EBITDA	$208M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$175M
Depreciation & Amortization	$24M
Stock-Based Compensation	$14M
Deferred Income Tax	$11M
Other Non-Cash Items	-$70M
Change in Working Capital	-$74M
OPERATING CASH FLOW	$80M
Capital Expenditure	-$28M
Acquisitions (Net)	$161M
Purchases of Investments	-$992M
Sales/Maturities of Investments	$912M
Other Investing Activities	$160M
NET CASH FROM INVESTING	$53M
Net Debt Issuance	$0
Common Stock Repurchased	-$160M
Common Dividends Paid	$0
Other Financing Activities	$14M
NET CASH FROM FINANCING	-$146M
FREE CASH FLOW	$51M
Net Change in Cash	-$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$36M
Short-Term Investments	$182M
Net Receivables	$196M
Inventory	$133M
Other Current Assets	$14M
TOTAL CURRENT ASSETS	$585M
PP&E (Net)	$98M
Goodwill	$80M
Intangible Assets	$13M
Long-Term Investments	$108M
Tax Assets	$12M
Other Non-Current Assets	$4M
TOTAL NON-CURRENT ASSETS	$314M
TOTAL ASSETS	$899M
Account Payables	$33M
Short-Term Debt	$0
Deferred Revenue	$11M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$109M
Long-Term Debt	$0
Deferred Revenue NC	$2M
Deferred Tax Liabilities	$12M
Other Non-Current Liabilities	-$351.0K
TOTAL NON-CURRENT LIABILITIES	$13M
TOTAL LIABILITIES	$122M
Common Stock	$722.0K
Additional Paid-In Capital	$131M
Retained Earnings	$1.2B
Treasury Stock	-$597M
Accum. Other Comp. Income	-$4M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$777M
Minority Interest	$0
TOTAL EQUITY	$777M
TOTAL LIABILITIES & EQUITY	$899M
Total Debt	$0
Net Debt	-$36M